<informationTable xmlns="http://www.sec.gov/edgar/document/thirteenf/informationtable">		<infoTable>
			<nameOfIssuer>ADT Corporation</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>00101J100</cusip>
			<value>1124</value>
			<shrsOrPrnAmt>
				<sshPrnamt>27772</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>27772</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AFLAC CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>001055100</cusip>
			<value>4319</value>
			<shrsOrPrnAmt>
				<sshPrnamt>64653</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>64653</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AGL RESOURCES INC.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>001204100</cusip>
			<value>777</value>
			<shrsOrPrnAmt>
				<sshPrnamt>16457</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>16457</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AES CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>00130H100</cusip>
			<value>1324</value>
			<shrsOrPrnAmt>
				<sshPrnamt>91272</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>91272</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AT&amp;T INC COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>00206R100</cusip>
			<value>25703</value>
			<shrsOrPrnAmt>
				<sshPrnamt>731043</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>731043</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ABBOTT LABORATORIE</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>002824100</cusip>
			<value>8223</value>
			<shrsOrPrnAmt>
				<sshPrnamt>214542</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>214542</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ABBVIE INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>00287Y100</cusip>
			<value>11631</value>
			<shrsOrPrnAmt>
				<sshPrnamt>220242</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>220242</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ADOBE SYS INC COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>00724F100</cusip>
			<value>3863</value>
			<shrsOrPrnAmt>
				<sshPrnamt>64518</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>64518</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AETNA INC NEW</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>00817Y100</cusip>
			<value>3498</value>
			<shrsOrPrnAmt>
				<sshPrnamt>51000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>51000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AGILENT TECHNOLOGI</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>00846U100</cusip>
			<value>2630</value>
			<shrsOrPrnAmt>
				<sshPrnamt>45993</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>45993</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AIR PRODUCTS &amp; CHE</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>009158100</cusip>
			<value>3258</value>
			<shrsOrPrnAmt>
				<sshPrnamt>29150</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>29150</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AIRGAS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>009363100</cusip>
			<value>1023</value>
			<shrsOrPrnAmt>
				<sshPrnamt>9149</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>9149</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AKAMAI TECHNOLOGIE</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>00971T100</cusip>
			<value>1168</value>
			<shrsOrPrnAmt>
				<sshPrnamt>24748</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>24748</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ALCOA, INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>013817100</cusip>
			<value>1579</value>
			<shrsOrPrnAmt>
				<sshPrnamt>148579</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>148579</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ALEXION PHARM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>015351100</cusip>
			<value>3619</value>
			<shrsOrPrnAmt>
				<sshPrnamt>27200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>27200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ALLEGHENY TECHNOLO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>01741R100</cusip>
			<value>535</value>
			<shrsOrPrnAmt>
				<sshPrnamt>15003</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>15003</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ALLERGAN INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>018490100</cusip>
			<value>4582</value>
			<shrsOrPrnAmt>
				<sshPrnamt>41252</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>41252</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ALLIANCE DATA</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>018581100</cusip>
			<value>1788</value>
			<shrsOrPrnAmt>
				<sshPrnamt>6800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>6800</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ALLSTATE CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>020002100</cusip>
			<value>3441</value>
			<shrsOrPrnAmt>
				<sshPrnamt>63084</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>63084</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ALTERA CORP.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>021441100</cusip>
			<value>1446</value>
			<shrsOrPrnAmt>
				<sshPrnamt>44437</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>44437</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ALTRIA GROUP INC F</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>02209S100</cusip>
			<value>10657</value>
			<shrsOrPrnAmt>
				<sshPrnamt>277595</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>277595</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AMAZON COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>023135100</cusip>
			<value>20524</value>
			<shrsOrPrnAmt>
				<sshPrnamt>51465</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>51465</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AMEREN CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>023608100</cusip>
			<value>1220</value>
			<shrsOrPrnAmt>
				<sshPrnamt>33746</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>33746</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AMERICAN ELEC PWR</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>025537100</cusip>
			<value>3161</value>
			<shrsOrPrnAmt>
				<sshPrnamt>67638</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>67638</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AMERICAN EXPRESS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>025816100</cusip>
			<value>11596</value>
			<shrsOrPrnAmt>
				<sshPrnamt>127813</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>127813</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AMERICAN INTL GROU</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>026874780</cusip>
			<value>10430</value>
			<shrsOrPrnAmt>
				<sshPrnamt>204305</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>204305</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AMERICAN TOWER REI</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>03027X100</cusip>
			<value>4380</value>
			<shrsOrPrnAmt>
				<sshPrnamt>54868</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>54868</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AMERISOURCEBERGEN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>03073E100</cusip>
			<value>2260</value>
			<shrsOrPrnAmt>
				<sshPrnamt>32141</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>32141</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AMERIPRISE FINL IN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>03076C100</cusip>
			<value>3110</value>
			<shrsOrPrnAmt>
				<sshPrnamt>27031</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>27031</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AMETEK INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>031100100</cusip>
			<value>1786</value>
			<shrsOrPrnAmt>
				<sshPrnamt>33900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>33900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AMGEN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>031162100</cusip>
			<value>11946</value>
			<shrsOrPrnAmt>
				<sshPrnamt>104645</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>104645</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AMPHENOL CORP-CL A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>032095100</cusip>
			<value>1968</value>
			<shrsOrPrnAmt>
				<sshPrnamt>22070</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>22070</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ANADARKO PETE CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>032511100</cusip>
			<value>5544</value>
			<shrsOrPrnAmt>
				<sshPrnamt>69888</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>69888</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ANALOG DEVICES</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>032654100</cusip>
			<value>2197</value>
			<shrsOrPrnAmt>
				<sshPrnamt>43142</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>43142</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>APACHE CORP COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>037411100</cusip>
			<value>4761</value>
			<shrsOrPrnAmt>
				<sshPrnamt>55399</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>55399</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>APT INV MNGMT STK</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>03748R100</cusip>
			<value>524</value>
			<shrsOrPrnAmt>
				<sshPrnamt>20235</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>20235</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>APPLE COMPUTER</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>037833100</cusip>
			<value>70048</value>
			<shrsOrPrnAmt>
				<sshPrnamt>124838</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>124838</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>APPLIED MATLS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>038222100</cusip>
			<value>2956</value>
			<shrsOrPrnAmt>
				<sshPrnamt>167086</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>167086</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ARCHER DANIELS MID</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>039483100</cusip>
			<value>3976</value>
			<shrsOrPrnAmt>
				<sshPrnamt>91603</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>91603</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ASSURANT INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>04621X100</cusip>
			<value>691</value>
			<shrsOrPrnAmt>
				<sshPrnamt>10411</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>10411</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AUTODESK INC COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>052769100</cusip>
			<value>1558</value>
			<shrsOrPrnAmt>
				<sshPrnamt>30957</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>30957</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AUTOMATIC DATA PRO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>053015100</cusip>
			<value>5418</value>
			<shrsOrPrnAmt>
				<sshPrnamt>67043</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>67043</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AUTONATION STK</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>05329W100</cusip>
			<value>443</value>
			<shrsOrPrnAmt>
				<sshPrnamt>8919</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>8919</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AUTOZONE INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>053332100</cusip>
			<value>2251</value>
			<shrsOrPrnAmt>
				<sshPrnamt>4709</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>4709</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AVALONBAY COMMUNIT</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>053484100</cusip>
			<value>2001</value>
			<shrsOrPrnAmt>
				<sshPrnamt>16927</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>16927</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AVERY DENNISON COR</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>053611100</cusip>
			<value>686</value>
			<shrsOrPrnAmt>
				<sshPrnamt>13675</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>13675</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AVON PRODS INC COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>054303100</cusip>
			<value>1038</value>
			<shrsOrPrnAmt>
				<sshPrnamt>60271</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>60271</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BB &amp; T CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>054937100</cusip>
			<value>3649</value>
			<shrsOrPrnAmt>
				<sshPrnamt>97766</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>97766</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BAKER HUGHES INC C</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>057224100</cusip>
			<value>3404</value>
			<shrsOrPrnAmt>
				<sshPrnamt>61592</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>61592</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BALL CORP COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>058498100</cusip>
			<value>1042</value>
			<shrsOrPrnAmt>
				<sshPrnamt>20164</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>20164</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BANK OF AMERICA CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>060505100</cusip>
			<value>23046</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1480154</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>1480154</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BANK NEW YORK MELL</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>064058100</cusip>
			<value>5586</value>
			<shrsOrPrnAmt>
				<sshPrnamt>159860</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>159860</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BARD C R INC COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>067383100</cusip>
			<value>1470</value>
			<shrsOrPrnAmt>
				<sshPrnamt>10974</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>10974</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BAXTER INTERNATION</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>071813100</cusip>
			<value>5248</value>
			<shrsOrPrnAmt>
				<sshPrnamt>75452</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>75452</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BEAM INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>073730100</cusip>
			<value>1530</value>
			<shrsOrPrnAmt>
				<sshPrnamt>22487</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>22487</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BECTON DICKINSON &amp;</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>075887100</cusip>
			<value>2980</value>
			<shrsOrPrnAmt>
				<sshPrnamt>26969</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>26969</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BED BATH &amp; BEYOND</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>075896100</cusip>
			<value>2394</value>
			<shrsOrPrnAmt>
				<sshPrnamt>29817</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>29817</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BEMIS INC COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>081437100</cusip>
			<value>586</value>
			<shrsOrPrnAmt>
				<sshPrnamt>14300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>14300</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Berkshire Hathaway</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>084670700</cusip>
			<value>29617</value>
			<shrsOrPrnAmt>
				<sshPrnamt>249807</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>249807</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BEST BUY INC COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>086516100</cusip>
			<value>1496</value>
			<shrsOrPrnAmt>
				<sshPrnamt>37521</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>37521</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BIOGEN IDEC, INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>09062X100</cusip>
			<value>9169</value>
			<shrsOrPrnAmt>
				<sshPrnamt>32774</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>32774</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BLACKROCK INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>09247X100</cusip>
			<value>5551</value>
			<shrsOrPrnAmt>
				<sshPrnamt>17539</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>17539</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BLOCK H &amp; R INC CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>093671100</cusip>
			<value>1105</value>
			<shrsOrPrnAmt>
				<sshPrnamt>38040</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>38040</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BOEING CO COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>097023100</cusip>
			<value>13089</value>
			<shrsOrPrnAmt>
				<sshPrnamt>95895</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>95895</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BORGWARNER INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>099724100</cusip>
			<value>1806</value>
			<shrsOrPrnAmt>
				<sshPrnamt>32300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>32300</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BOSTON PROPERTIES</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>101121100</cusip>
			<value>2130</value>
			<shrsOrPrnAmt>
				<sshPrnamt>21223</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>21223</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BOSTON SCIENTIFIC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>101137100</cusip>
			<value>2242</value>
			<shrsOrPrnAmt>
				<sshPrnamt>186562</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>186562</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BRISTOL-MYERS SQUI</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>110122100</cusip>
			<value>12156</value>
			<shrsOrPrnAmt>
				<sshPrnamt>228704</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>228704</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BROADCOM CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>111320100</cusip>
			<value>2221</value>
			<shrsOrPrnAmt>
				<sshPrnamt>74901</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>74901</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BROWN FORMAN CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>115637200</cusip>
			<value>1707</value>
			<shrsOrPrnAmt>
				<sshPrnamt>22590</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>22590</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CBS Corp New Cl B</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>124857200</cusip>
			<value>4938</value>
			<shrsOrPrnAmt>
				<sshPrnamt>77466</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>77466</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CBRE Group Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>12504L100</cusip>
			<value>1013</value>
			<shrsOrPrnAmt>
				<sshPrnamt>38499</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>38499</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CF INDUSTRIES HOLD</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>125269100</cusip>
			<value>1852</value>
			<shrsOrPrnAmt>
				<sshPrnamt>7946</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>7946</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>C H  ROBINSON WORL</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>12541W200</cusip>
			<value>1227</value>
			<shrsOrPrnAmt>
				<sshPrnamt>21029</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>21029</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CIGNA CORP COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>125509100</cusip>
			<value>3359</value>
			<shrsOrPrnAmt>
				<sshPrnamt>38403</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>38403</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CME GROUP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>12572Q100</cusip>
			<value>3424</value>
			<shrsOrPrnAmt>
				<sshPrnamt>43635</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>43635</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CMS ENERGY CORP CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>125896100</cusip>
			<value>988</value>
			<shrsOrPrnAmt>
				<sshPrnamt>36910</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>36910</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CSX CORP COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>126408100</cusip>
			<value>4047</value>
			<shrsOrPrnAmt>
				<sshPrnamt>140656</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>140656</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CVS/CAREMARK CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>126650100</cusip>
			<value>11822</value>
			<shrsOrPrnAmt>
				<sshPrnamt>165187</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>165187</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CA INC, COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>12673P100</cusip>
			<value>1535</value>
			<shrsOrPrnAmt>
				<sshPrnamt>45627</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>45627</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CABLEVISION SY-A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>12686C100</cusip>
			<value>533</value>
			<shrsOrPrnAmt>
				<sshPrnamt>29709</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>29709</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CABOT OIL &amp; GAS CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>127097100</cusip>
			<value>2267</value>
			<shrsOrPrnAmt>
				<sshPrnamt>58492</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>58492</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CAMERON INTERNATIO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>13342B100</cusip>
			<value>1966</value>
			<shrsOrPrnAmt>
				<sshPrnamt>33019</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>33019</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CAMPBELL SOUP CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>134429100</cusip>
			<value>1074</value>
			<shrsOrPrnAmt>
				<sshPrnamt>24812</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>24812</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CAPITAL ONE FINL C</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>14040H100</cusip>
			<value>6130</value>
			<shrsOrPrnAmt>
				<sshPrnamt>80017</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>80017</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CARDINAL HEALTH IN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>14149Y100</cusip>
			<value>3150</value>
			<shrsOrPrnAmt>
				<sshPrnamt>47154</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>47154</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CAREFUSION CORP CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>14170T100</cusip>
			<value>1185</value>
			<shrsOrPrnAmt>
				<sshPrnamt>29752</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>29752</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CARMAX INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>143130100</cusip>
			<value>1459</value>
			<shrsOrPrnAmt>
				<sshPrnamt>31030</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>31030</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CARNIVAL CRUISE LI</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>143658300</cusip>
			<value>2445</value>
			<shrsOrPrnAmt>
				<sshPrnamt>60867</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>60867</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CATERPILLAR</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>149123100</cusip>
			<value>8028</value>
			<shrsOrPrnAmt>
				<sshPrnamt>88402</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>88402</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CELGENE CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>151020100</cusip>
			<value>9659</value>
			<shrsOrPrnAmt>
				<sshPrnamt>57165</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>57165</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CENTERPOINT ENERGY</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>15189T100</cusip>
			<value>1381</value>
			<shrsOrPrnAmt>
				<sshPrnamt>59597</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>59597</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CENTURYLINK INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>156700100</cusip>
			<value>2612</value>
			<shrsOrPrnAmt>
				<sshPrnamt>82020</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>82020</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Cerner Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>156782100</cusip>
			<value>2284</value>
			<shrsOrPrnAmt>
				<sshPrnamt>40976</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>40976</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CHESAPEAKE ENERGY</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>165167100</cusip>
			<value>1909</value>
			<shrsOrPrnAmt>
				<sshPrnamt>70345</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>70345</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CHEVRON CORP NEW F</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>166764100</cusip>
			<value>33333</value>
			<shrsOrPrnAmt>
				<sshPrnamt>266856</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>266856</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CHIPOTLE MEXICAN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>169656100</cusip>
			<value>2285</value>
			<shrsOrPrnAmt>
				<sshPrnamt>4288</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>4288</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CHUBB CORP COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>171232100</cusip>
			<value>3381</value>
			<shrsOrPrnAmt>
				<sshPrnamt>34988</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>34988</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CINCINNATI FINL CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>172062100</cusip>
			<value>1070</value>
			<shrsOrPrnAmt>
				<sshPrnamt>20437</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>20437</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CISCO SYSTEMS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>17275R100</cusip>
			<value>16658</value>
			<shrsOrPrnAmt>
				<sshPrnamt>742024</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>742024</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CINTAS CORP OHIO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>172908100</cusip>
			<value>848</value>
			<shrsOrPrnAmt>
				<sshPrnamt>14234</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>14234</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CITIGROUP, INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>172967420</cusip>
			<value>21934</value>
			<shrsOrPrnAmt>
				<sshPrnamt>420926</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>420926</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CITRIX SYSTEMS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>177376100</cusip>
			<value>1644</value>
			<shrsOrPrnAmt>
				<sshPrnamt>25995</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>25995</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CLIFFS NATURAL R</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>18683K100</cusip>
			<value>557</value>
			<shrsOrPrnAmt>
				<sshPrnamt>21267</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>21267</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CLOROX CO COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>189054100</cusip>
			<value>1677</value>
			<shrsOrPrnAmt>
				<sshPrnamt>18075</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>18075</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>COACH STK</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>189754100</cusip>
			<value>2200</value>
			<shrsOrPrnAmt>
				<sshPrnamt>39198</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>39198</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>COCA COLA</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>191216100</cusip>
			<value>21773</value>
			<shrsOrPrnAmt>
				<sshPrnamt>527070</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>527070</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>COCA COLA ENTERPRI</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>19122T100</cusip>
			<value>1480</value>
			<shrsOrPrnAmt>
				<sshPrnamt>33534</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>33534</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>COGNIZANT TECH SOL</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>192446100</cusip>
			<value>4225</value>
			<shrsOrPrnAmt>
				<sshPrnamt>41839</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>41839</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>COLGATE PALMOLIVE</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>194162100</cusip>
			<value>7951</value>
			<shrsOrPrnAmt>
				<sshPrnamt>121930</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>121930</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>COMCAST CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>20030N100</cusip>
			<value>18792</value>
			<shrsOrPrnAmt>
				<sshPrnamt>361633</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>361633</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>COMERICA INC COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>200340100</cusip>
			<value>1222</value>
			<shrsOrPrnAmt>
				<sshPrnamt>25714</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>25714</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>COMPUTER SCIENCES</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>205363100</cusip>
			<value>1145</value>
			<shrsOrPrnAmt>
				<sshPrnamt>20487</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>20487</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CONAGRA INC COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>205887100</cusip>
			<value>1976</value>
			<shrsOrPrnAmt>
				<sshPrnamt>58647</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>58647</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CONOCOPHILLIPS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>20825C100</cusip>
			<value>12007</value>
			<shrsOrPrnAmt>
				<sshPrnamt>169956</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>169956</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CONSOL ENERGY INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>20854P100</cusip>
			<value>1210</value>
			<shrsOrPrnAmt>
				<sshPrnamt>31818</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>31818</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CONSOLIDATED EDISO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>209115100</cusip>
			<value>2247</value>
			<shrsOrPrnAmt>
				<sshPrnamt>40652</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>40652</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CONSTELLATION ORDI</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>21036P100</cusip>
			<value>1624</value>
			<shrsOrPrnAmt>
				<sshPrnamt>23071</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>23071</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CORNING INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>219350100</cusip>
			<value>3579</value>
			<shrsOrPrnAmt>
				<sshPrnamt>200856</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>200856</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>COSTCO WHSL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>22160K100</cusip>
			<value>7220</value>
			<shrsOrPrnAmt>
				<sshPrnamt>60665</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>60665</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CROWN CASTLE INT</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>228227100</cusip>
			<value>3356</value>
			<shrsOrPrnAmt>
				<sshPrnamt>45700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>45700</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CUMMINS ENGINE INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>231021100</cusip>
			<value>3412</value>
			<shrsOrPrnAmt>
				<sshPrnamt>24204</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>24204</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>D R HORTON ORDINAR</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>23331A100</cusip>
			<value>880</value>
			<shrsOrPrnAmt>
				<sshPrnamt>39432</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>39432</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DTE ENERGY</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>233331100</cusip>
			<value>1616</value>
			<shrsOrPrnAmt>
				<sshPrnamt>24346</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>24346</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DANAHER CORP COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>235851100</cusip>
			<value>6420</value>
			<shrsOrPrnAmt>
				<sshPrnamt>83159</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>83159</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DARDEN RESTAURANTS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>237194100</cusip>
			<value>986</value>
			<shrsOrPrnAmt>
				<sshPrnamt>18126</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>18126</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DAVITA INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>23918K100</cusip>
			<value>1552</value>
			<shrsOrPrnAmt>
				<sshPrnamt>24486</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>24486</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DEERE &amp; CO COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>244199100</cusip>
			<value>4854</value>
			<shrsOrPrnAmt>
				<sshPrnamt>53152</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>53152</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DELTA AIR LI</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>247361700</cusip>
			<value>3274</value>
			<shrsOrPrnAmt>
				<sshPrnamt>119200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>119200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DENBURY RESOURCE</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>247916200</cusip>
			<value>851</value>
			<shrsOrPrnAmt>
				<sshPrnamt>51824</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>51824</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DENTSPLY INTERNATI</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>249030100</cusip>
			<value>957</value>
			<shrsOrPrnAmt>
				<sshPrnamt>19749</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>19749</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DEVON ENERGY CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>25179M100</cusip>
			<value>3281</value>
			<shrsOrPrnAmt>
				<sshPrnamt>53035</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>53035</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DIAMOND OFFSHORE</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>25271C100</cusip>
			<value>551</value>
			<shrsOrPrnAmt>
				<sshPrnamt>9683</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>9683</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DISNEY (WALT) CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>254687100</cusip>
			<value>17329</value>
			<shrsOrPrnAmt>
				<sshPrnamt>226820</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>226820</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DISCOVER FINANCIAL</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>254709100</cusip>
			<value>3718</value>
			<shrsOrPrnAmt>
				<sshPrnamt>66461</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>66461</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DISCOVERY COMM-A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>25470F100</cusip>
			<value>2830</value>
			<shrsOrPrnAmt>
				<sshPrnamt>31300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>31300</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DIRECT TV</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>25490A300</cusip>
			<value>4682</value>
			<shrsOrPrnAmt>
				<sshPrnamt>67769</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>67769</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DOLLAR GENERAL C</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>256677100</cusip>
			<value>2467</value>
			<shrsOrPrnAmt>
				<sshPrnamt>40900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>40900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DOLLAR TREE INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>256746100</cusip>
			<value>1631</value>
			<shrsOrPrnAmt>
				<sshPrnamt>28900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>28900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DOMINION RES INC V</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>25746U100</cusip>
			<value>5206</value>
			<shrsOrPrnAmt>
				<sshPrnamt>80472</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>80472</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DOVER CORP COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>260003100</cusip>
			<value>2291</value>
			<shrsOrPrnAmt>
				<sshPrnamt>23733</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>23733</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DOW CHEM CO COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>260543100</cusip>
			<value>7464</value>
			<shrsOrPrnAmt>
				<sshPrnamt>168116</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>168116</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DR PEPPER SNAPPLE</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>26138E100</cusip>
			<value>1356</value>
			<shrsOrPrnAmt>
				<sshPrnamt>27831</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>27831</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DUPONT (EI) DE NEM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>263534100</cusip>
			<value>8334</value>
			<shrsOrPrnAmt>
				<sshPrnamt>128281</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>128281</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DUKE ENERGY CORP,</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>26441C200</cusip>
			<value>6771</value>
			<shrsOrPrnAmt>
				<sshPrnamt>98110</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>98110</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DUN &amp; BRADSTREET</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>26483E100</cusip>
			<value>663</value>
			<shrsOrPrnAmt>
				<sshPrnamt>5403</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>5403</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DYNEGY, INC. WARRA</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>26817R110</cusip>
			<value>1</value>
			<shrsOrPrnAmt>
				<sshPrnamt>460</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>460</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EMC CORP MASS COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>268648100</cusip>
			<value>7183</value>
			<shrsOrPrnAmt>
				<sshPrnamt>285598</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>285598</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EOG RES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>26875P100</cusip>
			<value>6345</value>
			<shrsOrPrnAmt>
				<sshPrnamt>37804</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>37804</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EQT CORP COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>26884L100</cusip>
			<value>1879</value>
			<shrsOrPrnAmt>
				<sshPrnamt>20927</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>20927</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>E TRADE FIN STK</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>269246400</cusip>
			<value>784</value>
			<shrsOrPrnAmt>
				<sshPrnamt>39904</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>39904</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EASTMAN CHEM CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>277432100</cusip>
			<value>1730</value>
			<shrsOrPrnAmt>
				<sshPrnamt>21436</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>21436</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EBAY INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>278642100</cusip>
			<value>8884</value>
			<shrsOrPrnAmt>
				<sshPrnamt>161848</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>161848</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ECOLAB INC COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>278865100</cusip>
			<value>3929</value>
			<shrsOrPrnAmt>
				<sshPrnamt>37680</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>37680</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EDISON INTL</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>281020100</cusip>
			<value>2097</value>
			<shrsOrPrnAmt>
				<sshPrnamt>45302</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>45302</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EDWARDS LIFE</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>28176E100</cusip>
			<value>998</value>
			<shrsOrPrnAmt>
				<sshPrnamt>15180</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>15180</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ELECTRONIC ARTS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>285512100</cusip>
			<value>976</value>
			<shrsOrPrnAmt>
				<sshPrnamt>42563</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>42563</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EMERSON ELECTRIC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>291011100</cusip>
			<value>6857</value>
			<shrsOrPrnAmt>
				<sshPrnamt>97700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>97700</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ENTERGY CORP NEW</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>29364G100</cusip>
			<value>1569</value>
			<shrsOrPrnAmt>
				<sshPrnamt>24799</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>24799</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EQUIFAX INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>294429100</cusip>
			<value>1165</value>
			<shrsOrPrnAmt>
				<sshPrnamt>16855</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>16855</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EQUITY RESIDENTIAL</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>29476L100</cusip>
			<value>2417</value>
			<shrsOrPrnAmt>
				<sshPrnamt>46588</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>46588</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EXELON CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>30161N100</cusip>
			<value>3261</value>
			<shrsOrPrnAmt>
				<sshPrnamt>119059</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>119059</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Expedia Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>30212P300</cusip>
			<value>998</value>
			<shrsOrPrnAmt>
				<sshPrnamt>14328</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>14328</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Expeditors Intl Wa</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>302130100</cusip>
			<value>1270</value>
			<shrsOrPrnAmt>
				<sshPrnamt>28700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>28700</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EXPRESS SCRIPTS HO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>30219G100</cusip>
			<value>7856</value>
			<shrsOrPrnAmt>
				<sshPrnamt>111840</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>111840</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EXXON MOBIL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>30231G100</cusip>
			<value>61356</value>
			<shrsOrPrnAmt>
				<sshPrnamt>606280</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>606280</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FLIR SYSTEMS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>302445100</cusip>
			<value>595</value>
			<shrsOrPrnAmt>
				<sshPrnamt>19767</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>19767</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FMC CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>302491300</cusip>
			<value>1398</value>
			<shrsOrPrnAmt>
				<sshPrnamt>18532</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>18532</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FMC TECHNOLOGIES</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>30249U100</cusip>
			<value>1719</value>
			<shrsOrPrnAmt>
				<sshPrnamt>32923</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>32923</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FACEBOOK INC-A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>30303M100</cusip>
			<value>12473</value>
			<shrsOrPrnAmt>
				<sshPrnamt>228200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>228200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FAMILY DOLLAR STOR</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>307000100</cusip>
			<value>872</value>
			<shrsOrPrnAmt>
				<sshPrnamt>13420</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>13420</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FASTENAL CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>311900100</cusip>
			<value>1802</value>
			<shrsOrPrnAmt>
				<sshPrnamt>37938</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>37938</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FEDEX CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>31428X100</cusip>
			<value>5943</value>
			<shrsOrPrnAmt>
				<sshPrnamt>41336</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>41336</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>F5 NETWORKS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>315616100</cusip>
			<value>985</value>
			<shrsOrPrnAmt>
				<sshPrnamt>10836</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>10836</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FIDELITY NATIONAL</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>31620M100</cusip>
			<value>2177</value>
			<shrsOrPrnAmt>
				<sshPrnamt>40564</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>40564</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FIFTH THIRD BANCOR</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>316773100</cusip>
			<value>2592</value>
			<shrsOrPrnAmt>
				<sshPrnamt>123230</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>123230</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FIRST SOLAR INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>336433100</cusip>
			<value>524</value>
			<shrsOrPrnAmt>
				<sshPrnamt>9586</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>9586</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FISERV INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>337738100</cusip>
			<value>2171</value>
			<shrsOrPrnAmt>
				<sshPrnamt>36758</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>36758</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FIRSTENERGY CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>337932100</cusip>
			<value>1917</value>
			<shrsOrPrnAmt>
				<sshPrnamt>58140</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>58140</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FLUOR CORP (NEW)</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>343412100</cusip>
			<value>1816</value>
			<shrsOrPrnAmt>
				<sshPrnamt>22621</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>22621</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FLOWSERVE CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>34354P100</cusip>
			<value>1537</value>
			<shrsOrPrnAmt>
				<sshPrnamt>19500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>19500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FORD MOTOR</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>345370860</cusip>
			<value>8446</value>
			<shrsOrPrnAmt>
				<sshPrnamt>547405</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>547405</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FOREST LABS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>345838100</cusip>
			<value>1972</value>
			<shrsOrPrnAmt>
				<sshPrnamt>32853</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>32853</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FOSSIL GROUP, INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>34988V100</cusip>
			<value>840</value>
			<shrsOrPrnAmt>
				<sshPrnamt>7000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>7000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FRANKLIN RESOURCES</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>354613100</cusip>
			<value>3237</value>
			<shrsOrPrnAmt>
				<sshPrnamt>56073</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>56073</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FREEPORT-MCMORAN C</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>35671D850</cusip>
			<value>5443</value>
			<shrsOrPrnAmt>
				<sshPrnamt>144230</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>144230</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FRONTIER COMMUNICA</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>35906A100</cusip>
			<value>646</value>
			<shrsOrPrnAmt>
				<sshPrnamt>138921</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>138921</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GAMESTOP CORP-CLAS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>36467W100</cusip>
			<value>800</value>
			<shrsOrPrnAmt>
				<sshPrnamt>16244</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>16244</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GANNETT</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>364730100</cusip>
			<value>941</value>
			<shrsOrPrnAmt>
				<sshPrnamt>31796</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>31796</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GAP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>364760100</cusip>
			<value>1437</value>
			<shrsOrPrnAmt>
				<sshPrnamt>36779</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>36779</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GENERAL DYNAMICS C</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>369550100</cusip>
			<value>4416</value>
			<shrsOrPrnAmt>
				<sshPrnamt>46214</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>46214</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GENERAL ELECTRIC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>369604100</cusip>
			<value>39354</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1404007</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>1404007</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GENERAL GROWTH P</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>370023100</cusip>
			<value>1497</value>
			<shrsOrPrnAmt>
				<sshPrnamt>74600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>74600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GENERAL MILLS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>370334100</cusip>
			<value>4393</value>
			<shrsOrPrnAmt>
				<sshPrnamt>88012</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>88012</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GENERAL MOTORS C</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>37045V100</cusip>
			<value>6462</value>
			<shrsOrPrnAmt>
				<sshPrnamt>158100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>158100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GENUINE PARTS CO C</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>372460100</cusip>
			<value>1790</value>
			<shrsOrPrnAmt>
				<sshPrnamt>21521</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>21521</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GENWORTH FINL</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>37247D100</cusip>
			<value>1065</value>
			<shrsOrPrnAmt>
				<sshPrnamt>68555</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>68555</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GILEAD SCIENCES IN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>375558100</cusip>
			<value>15983</value>
			<shrsOrPrnAmt>
				<sshPrnamt>212676</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>212676</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GOLDMAN SACHS GROU</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>38141G100</cusip>
			<value>10288</value>
			<shrsOrPrnAmt>
				<sshPrnamt>58039</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>58039</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GOODYEAR TIRE &amp; RU</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>382550100</cusip>
			<value>814</value>
			<shrsOrPrnAmt>
				<sshPrnamt>34130</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>34130</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GOOGLE INC-CL A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>38259P500</cusip>
			<value>43574</value>
			<shrsOrPrnAmt>
				<sshPrnamt>38881</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>38881</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GRAHAM HOLDINGS CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>384637100</cusip>
			<value>418</value>
			<shrsOrPrnAmt>
				<sshPrnamt>630</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>630</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GRAINGER W W INC C</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>384802100</cusip>
			<value>2197</value>
			<shrsOrPrnAmt>
				<sshPrnamt>8600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>8600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HCP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>40414L100</cusip>
			<value>2298</value>
			<shrsOrPrnAmt>
				<sshPrnamt>63277</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>63277</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HALLIBURTON CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>406216100</cusip>
			<value>5962</value>
			<shrsOrPrnAmt>
				<sshPrnamt>117471</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>117471</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HARLEY DAVIDSON IN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>412822100</cusip>
			<value>2128</value>
			<shrsOrPrnAmt>
				<sshPrnamt>30729</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>30729</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HARMAN INTERNATION</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>413086100</cusip>
			<value>776</value>
			<shrsOrPrnAmt>
				<sshPrnamt>9486</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>9486</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Harris Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>413875100</cusip>
			<value>1037</value>
			<shrsOrPrnAmt>
				<sshPrnamt>14856</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>14856</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HARTFORD FINL SVCS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>416515100</cusip>
			<value>2250</value>
			<shrsOrPrnAmt>
				<sshPrnamt>62091</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>62091</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HASBRO INC COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>418056100</cusip>
			<value>883</value>
			<shrsOrPrnAmt>
				<sshPrnamt>16059</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>16059</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HEALTH CARE REIT</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>42217K100</cusip>
			<value>2132</value>
			<shrsOrPrnAmt>
				<sshPrnamt>39798</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>39798</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HELMERICH &amp; PAYN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>423452100</cusip>
			<value>1245</value>
			<shrsOrPrnAmt>
				<sshPrnamt>14812</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>14812</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>THE HERSHEY COMPAN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>427866100</cusip>
			<value>2020</value>
			<shrsOrPrnAmt>
				<sshPrnamt>20778</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>20778</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HESS CORP COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>42809H100</cusip>
			<value>3279</value>
			<shrsOrPrnAmt>
				<sshPrnamt>39503</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>39503</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HEWLETT PACKARD</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>428236100</cusip>
			<value>7472</value>
			<shrsOrPrnAmt>
				<sshPrnamt>267058</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>267058</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HOME DEPOT</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>437076100</cusip>
			<value>16093</value>
			<shrsOrPrnAmt>
				<sshPrnamt>195442</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>195442</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HONEYWELL INT&apos;L IN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>438516100</cusip>
			<value>9963</value>
			<shrsOrPrnAmt>
				<sshPrnamt>109036</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>109036</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HORMEL FOODS CRP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>440452100</cusip>
			<value>845</value>
			<shrsOrPrnAmt>
				<sshPrnamt>18698</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>18698</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HOSPIRA INC COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>441060100</cusip>
			<value>950</value>
			<shrsOrPrnAmt>
				<sshPrnamt>23012</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>23012</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HOST HOTELS &amp; RESO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>44107P100</cusip>
			<value>2025</value>
			<shrsOrPrnAmt>
				<sshPrnamt>104183</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>104183</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HUDSON CITY BANCOR</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>443683100</cusip>
			<value>623</value>
			<shrsOrPrnAmt>
				<sshPrnamt>66084</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>66084</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HUMANA</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>444859100</cusip>
			<value>2248</value>
			<shrsOrPrnAmt>
				<sshPrnamt>21782</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>21782</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HUNTINGTON BANCSHA</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>446150100</cusip>
			<value>1112</value>
			<shrsOrPrnAmt>
				<sshPrnamt>115276</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>115276</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ILLINOIS TOOL WKS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>452308100</cusip>
			<value>4763</value>
			<shrsOrPrnAmt>
				<sshPrnamt>56650</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>56650</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>INTEL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>458140100</cusip>
			<value>17909</value>
			<shrsOrPrnAmt>
				<sshPrnamt>689870</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>689870</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>INTEGRYS ENERGY GR</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>45822P100</cusip>
			<value>599</value>
			<shrsOrPrnAmt>
				<sshPrnamt>11016</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>11016</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>IntercontinentalEx</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>45866F100</cusip>
			<value>3573</value>
			<shrsOrPrnAmt>
				<sshPrnamt>15884</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>15884</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>INTL BUSINESS MACH</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>459200100</cusip>
			<value>26569</value>
			<shrsOrPrnAmt>
				<sshPrnamt>141647</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>141647</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>INTERNATIONAL FLAV</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>459506100</cusip>
			<value>974</value>
			<shrsOrPrnAmt>
				<sshPrnamt>11327</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>11327</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>INTERNATIONAL GAME</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>459902100</cusip>
			<value>627</value>
			<shrsOrPrnAmt>
				<sshPrnamt>34522</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>34522</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>INTL PAPER</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>460146100</cusip>
			<value>3038</value>
			<shrsOrPrnAmt>
				<sshPrnamt>61952</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>61952</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>INTERPUBLIC GROUP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>460690100</cusip>
			<value>1038</value>
			<shrsOrPrnAmt>
				<sshPrnamt>58616</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>58616</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>INTUIT</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>461202100</cusip>
			<value>3017</value>
			<shrsOrPrnAmt>
				<sshPrnamt>39528</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>39528</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>INTUITIVE SURGICAL</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>46120E600</cusip>
			<value>2031</value>
			<shrsOrPrnAmt>
				<sshPrnamt>5288</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>5288</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>IRON MOUNTAIN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>462846100</cusip>
			<value>716</value>
			<shrsOrPrnAmt>
				<sshPrnamt>23592</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>23592</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>JP MORGAN CHASE &amp;</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>46625H100</cusip>
			<value>30506</value>
			<shrsOrPrnAmt>
				<sshPrnamt>521650</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>521650</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>JABIL CIRCUIT INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>466313100</cusip>
			<value>447</value>
			<shrsOrPrnAmt>
				<sshPrnamt>25603</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>25603</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>JACOBS ENGINEERING</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>469814100</cusip>
			<value>1149</value>
			<shrsOrPrnAmt>
				<sshPrnamt>18237</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>18237</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>JOHNSON &amp; JOHNSON</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>478160100</cusip>
			<value>35861</value>
			<shrsOrPrnAmt>
				<sshPrnamt>391543</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>391543</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>JOHNSON CTLS INC C</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>478366100</cusip>
			<value>4877</value>
			<shrsOrPrnAmt>
				<sshPrnamt>95059</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>95059</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>JOY GLOBAL INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>481165100</cusip>
			<value>861</value>
			<shrsOrPrnAmt>
				<sshPrnamt>14727</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>14727</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>JUNIPER NETWORKS I</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>48203R100</cusip>
			<value>1590</value>
			<shrsOrPrnAmt>
				<sshPrnamt>70430</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>70430</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KLA-TENCOR CORPORA</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>482480100</cusip>
			<value>1481</value>
			<shrsOrPrnAmt>
				<sshPrnamt>22980</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>22980</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KANSAS CITY SOUT</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>485170300</cusip>
			<value>1895</value>
			<shrsOrPrnAmt>
				<sshPrnamt>15300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>15300</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KELLOGG CO COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>487836100</cusip>
			<value>2186</value>
			<shrsOrPrnAmt>
				<sshPrnamt>35790</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>35790</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KEYCORP NEW</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>493267100</cusip>
			<value>1669</value>
			<shrsOrPrnAmt>
				<sshPrnamt>124387</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>124387</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KIMBERLY CLARK</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>494368100</cusip>
			<value>5536</value>
			<shrsOrPrnAmt>
				<sshPrnamt>52993</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>52993</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KIMCO REALTY CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>49446R100</cusip>
			<value>1124</value>
			<shrsOrPrnAmt>
				<sshPrnamt>56918</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>56918</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KINDER MORGAN Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>49456B100</cusip>
			<value>3367</value>
			<shrsOrPrnAmt>
				<sshPrnamt>93530</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>93530</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KOHLS CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>500255100</cusip>
			<value>1609</value>
			<shrsOrPrnAmt>
				<sshPrnamt>28351</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>28351</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Kraft Foods Group,</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>50076Q100</cusip>
			<value>4461</value>
			<shrsOrPrnAmt>
				<sshPrnamt>82725</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>82725</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KROGER CO COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>501044100</cusip>
			<value>2846</value>
			<shrsOrPrnAmt>
				<sshPrnamt>72005</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>72005</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>L BRANDS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>501797100</cusip>
			<value>2094</value>
			<shrsOrPrnAmt>
				<sshPrnamt>33856</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>33856</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LSI LOGIC CORP COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>502161100</cusip>
			<value>837</value>
			<shrsOrPrnAmt>
				<sshPrnamt>75990</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>75990</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>L-3 COMMUNICATIONS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>502424100</cusip>
			<value>1327</value>
			<shrsOrPrnAmt>
				<sshPrnamt>12419</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>12419</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LAB CRP OF AMER ST</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>50540R400</cusip>
			<value>1104</value>
			<shrsOrPrnAmt>
				<sshPrnamt>12079</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>12079</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LAM RESEARCH CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>512807100</cusip>
			<value>1236</value>
			<shrsOrPrnAmt>
				<sshPrnamt>22693</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>22693</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ESTEE LAUDER ORDIN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>518439100</cusip>
			<value>2679</value>
			<shrsOrPrnAmt>
				<sshPrnamt>35574</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>35574</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LEGGETT &amp; PLATT</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>524660100</cusip>
			<value>610</value>
			<shrsOrPrnAmt>
				<sshPrnamt>19701</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>19701</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LEGG MASON INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>524901100</cusip>
			<value>657</value>
			<shrsOrPrnAmt>
				<sshPrnamt>15114</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>15114</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LENNAR CORP-CL A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>526057100</cusip>
			<value>914</value>
			<shrsOrPrnAmt>
				<sshPrnamt>23110</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>23110</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LEUCADIA NATIONAL</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>527288100</cusip>
			<value>1235</value>
			<shrsOrPrnAmt>
				<sshPrnamt>43589</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>43589</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LIFE TECHNOLOGIES</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>53217V100</cusip>
			<value>1815</value>
			<shrsOrPrnAmt>
				<sshPrnamt>23944</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>23944</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LILLY ELI &amp; CO COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>532457100</cusip>
			<value>7027</value>
			<shrsOrPrnAmt>
				<sshPrnamt>137794</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>137794</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LINCOLN NATL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>534187100</cusip>
			<value>1895</value>
			<shrsOrPrnAmt>
				<sshPrnamt>36713</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>36713</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LINEAR TECHNOLOGY</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>535678100</cusip>
			<value>1476</value>
			<shrsOrPrnAmt>
				<sshPrnamt>32403</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>32403</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LOCKHEED MARTIN CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>539830100</cusip>
			<value>5566</value>
			<shrsOrPrnAmt>
				<sshPrnamt>37443</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>37443</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LOEWS CORP COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>540424100</cusip>
			<value>2052</value>
			<shrsOrPrnAmt>
				<sshPrnamt>42545</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>42545</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LORILLARD INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>544147100</cusip>
			<value>2592</value>
			<shrsOrPrnAmt>
				<sshPrnamt>51144</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>51144</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LOWES COS INC COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>548661100</cusip>
			<value>7194</value>
			<shrsOrPrnAmt>
				<sshPrnamt>145177</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>145177</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>M&amp;T BANK STK</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>55261F100</cusip>
			<value>2104</value>
			<shrsOrPrnAmt>
				<sshPrnamt>18075</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>18075</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MACERICH CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>554382100</cusip>
			<value>1148</value>
			<shrsOrPrnAmt>
				<sshPrnamt>19500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>19500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MACYS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>55616P100</cusip>
			<value>2728</value>
			<shrsOrPrnAmt>
				<sshPrnamt>51094</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>51094</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MARATHON OIL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>565849100</cusip>
			<value>3412</value>
			<shrsOrPrnAmt>
				<sshPrnamt>96671</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>96671</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MARATHON PETROLEUM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>56585A100</cusip>
			<value>3828</value>
			<shrsOrPrnAmt>
				<sshPrnamt>41735</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>41735</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MARSH &amp; MCLENNAN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>571748100</cusip>
			<value>3692</value>
			<shrsOrPrnAmt>
				<sshPrnamt>76341</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>76341</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MARRIOTT INTL INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>571903200</cusip>
			<value>1562</value>
			<shrsOrPrnAmt>
				<sshPrnamt>31638</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>31638</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MASCO CORP COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>574599100</cusip>
			<value>1129</value>
			<shrsOrPrnAmt>
				<sshPrnamt>49571</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>49571</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MASTERCARD INC-CLA</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>57636Q100</cusip>
			<value>12040</value>
			<shrsOrPrnAmt>
				<sshPrnamt>14411</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>14411</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MATTEL INC COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>577081100</cusip>
			<value>2234</value>
			<shrsOrPrnAmt>
				<sshPrnamt>46948</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>46948</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MCCORMICK STK</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>579780200</cusip>
			<value>1266</value>
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				<sshPrnamt>18366</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>18366</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>MCDONALD&apos;S</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>580135100</cusip>
			<value>13397</value>
			<shrsOrPrnAmt>
				<sshPrnamt>138069</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>138069</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>MCGRAW HILL COMPAN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>580645100</cusip>
			<value>2942</value>
			<shrsOrPrnAmt>
				<sshPrnamt>37626</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>37626</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>MCKESSON HBOC INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>58155Q100</cusip>
			<value>5131</value>
			<shrsOrPrnAmt>
				<sshPrnamt>31791</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>31791</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>MEAD JOHNSON-A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>582839100</cusip>
			<value>2352</value>
			<shrsOrPrnAmt>
				<sshPrnamt>28077</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>28077</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>MEADWESTVACO CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>583334100</cusip>
			<value>910</value>
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				<sshPrnamt>24638</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>24638</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>MEDTRONIC INC COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>585055100</cusip>
			<value>7956</value>
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				<sshPrnamt>138633</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>138633</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>MERCK &amp; CO INC NEW</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>58933Y100</cusip>
			<value>20297</value>
			<shrsOrPrnAmt>
				<sshPrnamt>405536</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>405536</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>METLIFE INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>59156R100</cusip>
			<value>8389</value>
			<shrsOrPrnAmt>
				<sshPrnamt>155587</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>155587</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>MICROSOFT</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>594918100</cusip>
			<value>39423</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1053247</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>1053247</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>MICROCHIP TECHNOLO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>595017100</cusip>
			<value>1226</value>
			<shrsOrPrnAmt>
				<sshPrnamt>27400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>27400</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>MICRON TECHNOLOGY</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>595112100</cusip>
			<value>3141</value>
			<shrsOrPrnAmt>
				<sshPrnamt>144325</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>144325</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>MOHAWK INDS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>608190100</cusip>
			<value>1266</value>
			<shrsOrPrnAmt>
				<sshPrnamt>8500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>8500</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>MOLSON COORS BREWI</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>60871R200</cusip>
			<value>1229</value>
			<shrsOrPrnAmt>
				<sshPrnamt>21882</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>21882</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>Mondelez Internati</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>609207100</cusip>
			<value>8591</value>
			<shrsOrPrnAmt>
				<sshPrnamt>243376</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>243376</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>MONSANTO CO NEW</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>61166W100</cusip>
			<value>8504</value>
			<shrsOrPrnAmt>
				<sshPrnamt>72966</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>72966</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>MONSTER BEVERAGE</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>611740100</cusip>
			<value>1274</value>
			<shrsOrPrnAmt>
				<sshPrnamt>18800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>18800</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>MOODYS CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>615369100</cusip>
			<value>2059</value>
			<shrsOrPrnAmt>
				<sshPrnamt>26242</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>26242</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>MORGAN STANLEY DEA</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>617446440</cusip>
			<value>6030</value>
			<shrsOrPrnAmt>
				<sshPrnamt>192295</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>192295</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>MOSAIC CO/THE</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>61945C100</cusip>
			<value>2236</value>
			<shrsOrPrnAmt>
				<sshPrnamt>47300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>47300</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>MOTOROLA SOLUTIONS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>620076300</cusip>
			<value>2156</value>
			<shrsOrPrnAmt>
				<sshPrnamt>31934</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>31934</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>MURPHY OIL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>626717100</cusip>
			<value>1585</value>
			<shrsOrPrnAmt>
				<sshPrnamt>24435</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>24435</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>MYLAN LABS STK</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>628530100</cusip>
			<value>2302</value>
			<shrsOrPrnAmt>
				<sshPrnamt>53049</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>53049</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>NRG ENERGY</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>629377500</cusip>
			<value>1288</value>
			<shrsOrPrnAmt>
				<sshPrnamt>44862</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>44862</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>NASDAQ OMX GROUP/T</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>631103100</cusip>
			<value>638</value>
			<shrsOrPrnAmt>
				<sshPrnamt>16028</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>16028</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>NATIONAL OILWELL V</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>637071100</cusip>
			<value>4721</value>
			<shrsOrPrnAmt>
				<sshPrnamt>59359</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>59359</Sole>
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				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>NETAPP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>64110D100</cusip>
			<value>1944</value>
			<shrsOrPrnAmt>
				<sshPrnamt>47251</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>47251</Sole>
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				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>NETFLIX INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>64110L100</cusip>
			<value>3020</value>
			<shrsOrPrnAmt>
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				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>8203</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>NEWELL RUBBERMAID</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>651229100</cusip>
			<value>1296</value>
			<shrsOrPrnAmt>
				<sshPrnamt>39990</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>39990</Sole>
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				<None>0</None>
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		<infoTable>
			<nameOfIssuer>NEWFIELD EXPLORA</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>651290100</cusip>
			<value>464</value>
			<shrsOrPrnAmt>
				<sshPrnamt>18827</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>18827</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>NEWMONT MNG CORP C</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>651639100</cusip>
			<value>1593</value>
			<shrsOrPrnAmt>
				<sshPrnamt>69180</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>69180</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>NEWS CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>65249B100</cusip>
			<value>1247</value>
			<shrsOrPrnAmt>
				<sshPrnamt>69201</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>69201</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>NextEra Energy Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>65339F100</cusip>
			<value>5048</value>
			<shrsOrPrnAmt>
				<sshPrnamt>58958</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>58958</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>NIKE INC CL B</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>654106100</cusip>
			<value>8169</value>
			<shrsOrPrnAmt>
				<sshPrnamt>103874</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>103874</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>NISOURCE, INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>65473P100</cusip>
			<value>1427</value>
			<shrsOrPrnAmt>
				<sshPrnamt>43400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>43400</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>Noble Energy Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>655044100</cusip>
			<value>3401</value>
			<shrsOrPrnAmt>
				<sshPrnamt>49934</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>49934</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NORDSTROM INC COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>655664100</cusip>
			<value>1235</value>
			<shrsOrPrnAmt>
				<sshPrnamt>19991</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>19991</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NORFOLK SOUTHN COR</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>655844100</cusip>
			<value>3976</value>
			<shrsOrPrnAmt>
				<sshPrnamt>42826</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>42826</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NORTHEAST UTILS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>664397100</cusip>
			<value>1855</value>
			<shrsOrPrnAmt>
				<sshPrnamt>43766</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>43766</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NORTHERN TR CORP C</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>665859100</cusip>
			<value>1944</value>
			<shrsOrPrnAmt>
				<sshPrnamt>31411</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>31411</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NORTHROP COM NPV</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>666807100</cusip>
			<value>3527</value>
			<shrsOrPrnAmt>
				<sshPrnamt>30772</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>30772</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NUCOR CORP COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>670346100</cusip>
			<value>2360</value>
			<shrsOrPrnAmt>
				<sshPrnamt>44209</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>44209</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NVIDIA CORP COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>67066G100</cusip>
			<value>1288</value>
			<shrsOrPrnAmt>
				<sshPrnamt>80382</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>80382</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>O REILLY AUTOMOTIV</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>67103H100</cusip>
			<value>1936</value>
			<shrsOrPrnAmt>
				<sshPrnamt>15040</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>15040</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>OCCIDENTAL PETE CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>674599100</cusip>
			<value>10643</value>
			<shrsOrPrnAmt>
				<sshPrnamt>111913</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>111913</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>OMNICOM GROUP COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>681919100</cusip>
			<value>2658</value>
			<shrsOrPrnAmt>
				<sshPrnamt>35734</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>35734</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ONEOK INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>682680100</cusip>
			<value>1782</value>
			<shrsOrPrnAmt>
				<sshPrnamt>28660</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>28660</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ORACLE CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>68389X100</cusip>
			<value>18632</value>
			<shrsOrPrnAmt>
				<sshPrnamt>486990</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>486990</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>OSH 1 Liquidating</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>688197200</cusip>
			<value>0</value>
			<shrsOrPrnAmt>
				<sshPrnamt>316</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>316</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>OWENS-ILLINOIS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>690768400</cusip>
			<value>818</value>
			<shrsOrPrnAmt>
				<sshPrnamt>22849</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>22849</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>P G &amp; E CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>69331C100</cusip>
			<value>2490</value>
			<shrsOrPrnAmt>
				<sshPrnamt>61824</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>61824</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PNC BANK CORP COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>693475100</cusip>
			<value>5729</value>
			<shrsOrPrnAmt>
				<sshPrnamt>73849</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>73849</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PPG INDS INC COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>693506100</cusip>
			<value>3733</value>
			<shrsOrPrnAmt>
				<sshPrnamt>19684</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>19684</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PPL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>69351T100</cusip>
			<value>2640</value>
			<shrsOrPrnAmt>
				<sshPrnamt>87723</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>87723</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PVH CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>693656100</cusip>
			<value>1537</value>
			<shrsOrPrnAmt>
				<sshPrnamt>11300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>11300</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PACCAR INC COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>693718100</cusip>
			<value>2911</value>
			<shrsOrPrnAmt>
				<sshPrnamt>49203</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>49203</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PALL CORP COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>696429300</cusip>
			<value>1329</value>
			<shrsOrPrnAmt>
				<sshPrnamt>15576</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>15576</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PARKER HANNIFIN CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>701094100</cusip>
			<value>2664</value>
			<shrsOrPrnAmt>
				<sshPrnamt>20710</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>20710</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PATTERSON COS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>703395100</cusip>
			<value>476</value>
			<shrsOrPrnAmt>
				<sshPrnamt>11555</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>11555</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PAYCHEX INC COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>704326100</cusip>
			<value>2058</value>
			<shrsOrPrnAmt>
				<sshPrnamt>45198</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>45198</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PEABODY ENERGY COR</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>704549100</cusip>
			<value>733</value>
			<shrsOrPrnAmt>
				<sshPrnamt>37515</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>37515</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PEOPLE S UNITED FI</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>712704100</cusip>
			<value>674</value>
			<shrsOrPrnAmt>
				<sshPrnamt>44588</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>44588</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PEPCO HOLDINGS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>713291100</cusip>
			<value>662</value>
			<shrsOrPrnAmt>
				<sshPrnamt>34617</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>34617</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PEPSICO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>713448100</cusip>
			<value>17648</value>
			<shrsOrPrnAmt>
				<sshPrnamt>212785</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>212785</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PERKINELMER, INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>714046100</cusip>
			<value>640</value>
			<shrsOrPrnAmt>
				<sshPrnamt>15516</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>15516</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PETSMART INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>716768100</cusip>
			<value>1048</value>
			<shrsOrPrnAmt>
				<sshPrnamt>14400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>14400</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PFIZER</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>717081100</cusip>
			<value>27550</value>
			<shrsOrPrnAmt>
				<sshPrnamt>899450</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>899450</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PHILIP MORRIS INT&apos;</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>718172100</cusip>
			<value>19374</value>
			<shrsOrPrnAmt>
				<sshPrnamt>222361</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>222361</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PHILLIPS 66</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>718546100</cusip>
			<value>6419</value>
			<shrsOrPrnAmt>
				<sshPrnamt>83228</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>83228</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PINNACLE WEST CAPI</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>723484100</cusip>
			<value>808</value>
			<shrsOrPrnAmt>
				<sshPrnamt>15260</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>15260</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Pioneer Natural Re</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>723787100</cusip>
			<value>3546</value>
			<shrsOrPrnAmt>
				<sshPrnamt>19267</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>19267</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PITNEY-BOWES</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>724479100</cusip>
			<value>653</value>
			<shrsOrPrnAmt>
				<sshPrnamt>28046</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>28046</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PLUM CREEK TIMBER</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>729251100</cusip>
			<value>1133</value>
			<shrsOrPrnAmt>
				<sshPrnamt>24367</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>24367</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PRAXAIR INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>74005P100</cusip>
			<value>5329</value>
			<shrsOrPrnAmt>
				<sshPrnamt>40986</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>40986</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PRECISION CASTPART</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>740189100</cusip>
			<value>5442</value>
			<shrsOrPrnAmt>
				<sshPrnamt>20208</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>20208</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>T. ROWE PRICE GROU</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>74144T100</cusip>
			<value>3031</value>
			<shrsOrPrnAmt>
				<sshPrnamt>36187</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>36187</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PRICELINE.COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>741503400</cusip>
			<value>8309</value>
			<shrsOrPrnAmt>
				<sshPrnamt>7148</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>7148</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PRINCIPAL FINANCIA</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>74251V100</cusip>
			<value>1874</value>
			<shrsOrPrnAmt>
				<sshPrnamt>38004</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>38004</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PROCTER &amp; GAMBLE</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>742718100</cusip>
			<value>30709</value>
			<shrsOrPrnAmt>
				<sshPrnamt>377218</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>377218</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PROGRESS ENERGY(CN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>743263AA0</cusip>
			<value>4</value>
			<shrsOrPrnAmt>
				<sshPrnamt>12500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>12500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PROGRESSIVE CORP O</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>743315100</cusip>
			<value>2096</value>
			<shrsOrPrnAmt>
				<sshPrnamt>76875</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>76875</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PROLOGIS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>74340W100</cusip>
			<value>2560</value>
			<shrsOrPrnAmt>
				<sshPrnamt>69270</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>69270</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PRUDENTIAL FINANCI</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>744320100</cusip>
			<value>5923</value>
			<shrsOrPrnAmt>
				<sshPrnamt>64231</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>64231</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PUBLIC SVC ENTERPR</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>744573100</cusip>
			<value>2252</value>
			<shrsOrPrnAmt>
				<sshPrnamt>70299</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>70299</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PUBLIC STORAGE INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>74460D100</cusip>
			<value>3020</value>
			<shrsOrPrnAmt>
				<sshPrnamt>20065</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>20065</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PULTE CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>745867100</cusip>
			<value>990</value>
			<shrsOrPrnAmt>
				<sshPrnamt>48588</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>48588</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>QEP Resources Inc.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>74733V100</cusip>
			<value>764</value>
			<shrsOrPrnAmt>
				<sshPrnamt>24932</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>24932</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>QUALCOMM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>747525100</cusip>
			<value>17405</value>
			<shrsOrPrnAmt>
				<sshPrnamt>234407</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>234407</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>QUANTA SERVICES</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>74762E100</cusip>
			<value>937</value>
			<shrsOrPrnAmt>
				<sshPrnamt>29682</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>29682</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>QUEST DIAGNOSTICS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>74834L100</cusip>
			<value>1079</value>
			<shrsOrPrnAmt>
				<sshPrnamt>20153</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>20153</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>RALPH LAUREN COR</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>751212100</cusip>
			<value>1468</value>
			<shrsOrPrnAmt>
				<sshPrnamt>8314</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>8314</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Range Resources Co</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>75281A100</cusip>
			<value>1912</value>
			<shrsOrPrnAmt>
				<sshPrnamt>22679</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>22679</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>RAYTHEON CO NEW</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>755111500</cusip>
			<value>4022</value>
			<shrsOrPrnAmt>
				<sshPrnamt>44343</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>44343</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>RED HAT INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>756577100</cusip>
			<value>1477</value>
			<shrsOrPrnAmt>
				<sshPrnamt>26348</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>26348</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>REGENERON PHARM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>75886F100</cusip>
			<value>2973</value>
			<shrsOrPrnAmt>
				<sshPrnamt>10800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>10800</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>REGIONS FINL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>7591EP100</cusip>
			<value>1891</value>
			<shrsOrPrnAmt>
				<sshPrnamt>191213</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>191213</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>REPUBLIC SERVICES,</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>760759100</cusip>
			<value>1253</value>
			<shrsOrPrnAmt>
				<sshPrnamt>37745</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>37745</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>REYNOLDS AMERN INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>761713100</cusip>
			<value>2176</value>
			<shrsOrPrnAmt>
				<sshPrnamt>43528</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>43528</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ROBERT HALF INTL I</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>770323100</cusip>
			<value>811</value>
			<shrsOrPrnAmt>
				<sshPrnamt>19303</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>19303</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ROCKWELL AUTOMATIO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>773903100</cusip>
			<value>2272</value>
			<shrsOrPrnAmt>
				<sshPrnamt>19226</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>19226</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ROCKWELL COLLINS I</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>774341100</cusip>
			<value>1387</value>
			<shrsOrPrnAmt>
				<sshPrnamt>18768</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>18768</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ROPER INDS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>776696100</cusip>
			<value>1906</value>
			<shrsOrPrnAmt>
				<sshPrnamt>13741</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>13741</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ROSS STORES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>778296100</cusip>
			<value>2257</value>
			<shrsOrPrnAmt>
				<sshPrnamt>30120</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>30120</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>RYDER SYS INC COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>783549100</cusip>
			<value>539</value>
			<shrsOrPrnAmt>
				<sshPrnamt>7310</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>7310</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SLM CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>78442P100</cusip>
			<value>1593</value>
			<shrsOrPrnAmt>
				<sshPrnamt>60616</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>60616</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SAFEWAY INC.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>786514200</cusip>
			<value>1092</value>
			<shrsOrPrnAmt>
				<sshPrnamt>33535</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>33535</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>ST JUDE MED INC CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>790849100</cusip>
			<value>2475</value>
			<shrsOrPrnAmt>
				<sshPrnamt>39944</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>39944</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
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		<infoTable>
			<nameOfIssuer>SALESFORCE.COM INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>79466L300</cusip>
			<value>4202</value>
			<shrsOrPrnAmt>
				<sshPrnamt>76136</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>76136</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SANDISK CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>80004C100</cusip>
			<value>2212</value>
			<shrsOrPrnAmt>
				<sshPrnamt>31359</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>31359</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>SCANA CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>80589M100</cusip>
			<value>911</value>
			<shrsOrPrnAmt>
				<sshPrnamt>19408</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>19408</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>SCHLUMBERGER</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>806857100</cusip>
			<value>16470</value>
			<shrsOrPrnAmt>
				<sshPrnamt>182780</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>182780</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>SCHWAB CHARLES COR</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>808513100</cusip>
			<value>4177</value>
			<shrsOrPrnAmt>
				<sshPrnamt>160637</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>160637</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>SCRIPPS NETWORKS I</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>811065100</cusip>
			<value>1316</value>
			<shrsOrPrnAmt>
				<sshPrnamt>15233</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>15233</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>SEALED AIR CORP NE</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>81211K100</cusip>
			<value>928</value>
			<shrsOrPrnAmt>
				<sshPrnamt>27260</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>27260</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>SEMPRA ENERGY</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>816851100</cusip>
			<value>2831</value>
			<shrsOrPrnAmt>
				<sshPrnamt>31541</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>31541</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>SHERWIN WILLIAMS C</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>824348100</cusip>
			<value>2188</value>
			<shrsOrPrnAmt>
				<sshPrnamt>11921</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>11921</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>SIGMA ALDRICH CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>826552100</cusip>
			<value>1570</value>
			<shrsOrPrnAmt>
				<sshPrnamt>16698</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>16698</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>SIGMA FIN.INC.(fr.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>8265Q0TX0</cusip>
			<value>0</value>
			<shrsOrPrnAmt>
				<sshPrnamt>10000000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>10000000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
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		<infoTable>
			<nameOfIssuer>SIMON PPTY GROUP I</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>828806100</cusip>
			<value>6565</value>
			<shrsOrPrnAmt>
				<sshPrnamt>43145</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>43145</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>JM SMUCKER CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>832696400</cusip>
			<value>1515</value>
			<shrsOrPrnAmt>
				<sshPrnamt>14622</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>14622</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SNAP ON INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>833034100</cusip>
			<value>881</value>
			<shrsOrPrnAmt>
				<sshPrnamt>8046</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>8046</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SOUTHERN CO COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>842587100</cusip>
			<value>4992</value>
			<shrsOrPrnAmt>
				<sshPrnamt>121437</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>121437</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
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		<infoTable>
			<nameOfIssuer>SOUTHWEST AIRLS CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>844741100</cusip>
			<value>1822</value>
			<shrsOrPrnAmt>
				<sshPrnamt>96704</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>96704</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SOUTHWESTERN ENERG</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>845467100</cusip>
			<value>1921</value>
			<shrsOrPrnAmt>
				<sshPrnamt>48848</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>48848</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
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		<infoTable>
			<nameOfIssuer>SPECTRA ENERGY COR</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>847560100</cusip>
			<value>3314</value>
			<shrsOrPrnAmt>
				<sshPrnamt>93028</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>93028</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		</infoTable>
		<infoTable>
			<nameOfIssuer>STANLEY BLACK &amp; DE</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>854502100</cusip>
			<value>1738</value>
			<shrsOrPrnAmt>
				<sshPrnamt>21543</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>21543</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>STAPLES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>855030100</cusip>
			<value>1458</value>
			<shrsOrPrnAmt>
				<sshPrnamt>91739</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>91739</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
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		<infoTable>
			<nameOfIssuer>STARBUCKS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>855244100</cusip>
			<value>8186</value>
			<shrsOrPrnAmt>
				<sshPrnamt>104424</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>104424</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
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		<infoTable>
			<nameOfIssuer>STARWOOD HOTELS &amp;</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>85590A400</cusip>
			<value>2113</value>
			<shrsOrPrnAmt>
				<sshPrnamt>26592</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>26592</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>STATE STREET CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>857477100</cusip>
			<value>4472</value>
			<shrsOrPrnAmt>
				<sshPrnamt>60928</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>60928</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>STERICYCLE INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>858912100</cusip>
			<value>1381</value>
			<shrsOrPrnAmt>
				<sshPrnamt>11890</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>11890</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>STRYKER CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>863667100</cusip>
			<value>3078</value>
			<shrsOrPrnAmt>
				<sshPrnamt>40959</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>40959</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SUNTRUST BKS INC C</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>867914100</cusip>
			<value>2758</value>
			<shrsOrPrnAmt>
				<sshPrnamt>74926</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>74926</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SYMANTEC CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>871503100</cusip>
			<value>2290</value>
			<shrsOrPrnAmt>
				<sshPrnamt>97097</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>97097</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SYSCO CORP COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>871829100</cusip>
			<value>2915</value>
			<shrsOrPrnAmt>
				<sshPrnamt>80744</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>80744</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TECO ENERGY INC CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>872375100</cusip>
			<value>489</value>
			<shrsOrPrnAmt>
				<sshPrnamt>28379</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>28379</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TJX COS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>872540100</cusip>
			<value>6290</value>
			<shrsOrPrnAmt>
				<sshPrnamt>98690</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>98690</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TARGET CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>87612E100</cusip>
			<value>5550</value>
			<shrsOrPrnAmt>
				<sshPrnamt>87716</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>87716</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TENET HEALTHCARE C</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>88033G400</cusip>
			<value>593</value>
			<shrsOrPrnAmt>
				<sshPrnamt>14090</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>14090</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TERADATA CORP DEL</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>88076W100</cusip>
			<value>1033</value>
			<shrsOrPrnAmt>
				<sshPrnamt>22698</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>22698</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Tesoro Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>881609100</cusip>
			<value>1099</value>
			<shrsOrPrnAmt>
				<sshPrnamt>18792</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>18792</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TEXAS INSTRS INC C</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>882508100</cusip>
			<value>6670</value>
			<shrsOrPrnAmt>
				<sshPrnamt>151904</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>151904</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TEXTRON INC COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>883203100</cusip>
			<value>1434</value>
			<shrsOrPrnAmt>
				<sshPrnamt>39007</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>39007</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>THERMO ELECTRON CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>883556100</cusip>
			<value>5574</value>
			<shrsOrPrnAmt>
				<sshPrnamt>50062</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>50062</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>3M CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>88579Y100</cusip>
			<value>12446</value>
			<shrsOrPrnAmt>
				<sshPrnamt>88744</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>88744</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TIFFANY &amp; CO.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>886547100</cusip>
			<value>1421</value>
			<shrsOrPrnAmt>
				<sshPrnamt>15314</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>15314</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TIME WARNER INC NE</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>887317300</cusip>
			<value>8757</value>
			<shrsOrPrnAmt>
				<sshPrnamt>125603</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>125603</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TIME WARNER CABLE</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>88732J200</cusip>
			<value>5295</value>
			<shrsOrPrnAmt>
				<sshPrnamt>39076</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>39076</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TORCHMARK CORP COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>891027100</cusip>
			<value>992</value>
			<shrsOrPrnAmt>
				<sshPrnamt>12689</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>12689</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TOTAL SYS SVCS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>891906100</cusip>
			<value>772</value>
			<shrsOrPrnAmt>
				<sshPrnamt>23189</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>23189</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TRAVELERS COS, INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>89417E100</cusip>
			<value>4575</value>
			<shrsOrPrnAmt>
				<sshPrnamt>50528</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>50528</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TRIPADVISOR INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>896945200</cusip>
			<value>1286</value>
			<shrsOrPrnAmt>
				<sshPrnamt>15528</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>15528</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TWENTY-FIRST CENTU</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>90130A100</cusip>
			<value>9580</value>
			<shrsOrPrnAmt>
				<sshPrnamt>272306</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>272306</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TYSON FOODS INC-CL</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>902494100</cusip>
			<value>1262</value>
			<shrsOrPrnAmt>
				<sshPrnamt>37715</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>37715</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>US BANCORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>902973300</cusip>
			<value>10240</value>
			<shrsOrPrnAmt>
				<sshPrnamt>253461</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>253461</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>UNION PACIFIC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>907818100</cusip>
			<value>10730</value>
			<shrsOrPrnAmt>
				<sshPrnamt>63869</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>63869</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>UNITED PARCEL SERV</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>911312100</cusip>
			<value>10425</value>
			<shrsOrPrnAmt>
				<sshPrnamt>99212</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>99212</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>UNITED STATES STEE</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>912909100</cusip>
			<value>592</value>
			<shrsOrPrnAmt>
				<sshPrnamt>20067</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>20067</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>UNITED TECHNOLOGIE</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>913017100</cusip>
			<value>13352</value>
			<shrsOrPrnAmt>
				<sshPrnamt>117326</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>117326</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>UNITEDHEALTH GROUP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>91324P100</cusip>
			<value>10517</value>
			<shrsOrPrnAmt>
				<sshPrnamt>139670</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>139670</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>UNUMPROVIDENT CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>91529Y100</cusip>
			<value>1286</value>
			<shrsOrPrnAmt>
				<sshPrnamt>36662</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>36662</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>URBAN OUTFITTER</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>917047100</cusip>
			<value>564</value>
			<shrsOrPrnAmt>
				<sshPrnamt>15192</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>15192</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>V F CORP COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>918204100</cusip>
			<value>3053</value>
			<shrsOrPrnAmt>
				<sshPrnamt>48976</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>48976</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>VALERO ENERGY CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>91913Y100</cusip>
			<value>3796</value>
			<shrsOrPrnAmt>
				<sshPrnamt>75316</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>75316</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>VARIAN MEDICAL SYS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>92220P100</cusip>
			<value>1142</value>
			<shrsOrPrnAmt>
				<sshPrnamt>14697</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>14697</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>VENTAS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>92276F100</cusip>
			<value>2336</value>
			<shrsOrPrnAmt>
				<sshPrnamt>40776</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>40776</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>VERISIGN INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>92343E100</cusip>
			<value>1069</value>
			<shrsOrPrnAmt>
				<sshPrnamt>17883</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>17883</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>VERIZON COMMUNICAT</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>92343V100</cusip>
			<value>19537</value>
			<shrsOrPrnAmt>
				<sshPrnamt>397571</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>397571</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>VERTEX PHARM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>92532F100</cusip>
			<value>2400</value>
			<shrsOrPrnAmt>
				<sshPrnamt>32300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>32300</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>VIACOM, INC NEW CL</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>92553P200</cusip>
			<value>4921</value>
			<shrsOrPrnAmt>
				<sshPrnamt>56341</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>56341</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>VISA INC-CLASS A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>92826C830</cusip>
			<value>15743</value>
			<shrsOrPrnAmt>
				<sshPrnamt>70696</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>70696</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>VORNADO REALTY TRU</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>929042100</cusip>
			<value>2142</value>
			<shrsOrPrnAmt>
				<sshPrnamt>24122</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>24122</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>VULCAN MATLS CO CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>929160100</cusip>
			<value>1071</value>
			<shrsOrPrnAmt>
				<sshPrnamt>18019</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>18019</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WAL-MART</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>931142100</cusip>
			<value>17665</value>
			<shrsOrPrnAmt>
				<sshPrnamt>224493</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>224493</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WALGREEN CO COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>931422100</cusip>
			<value>6940</value>
			<shrsOrPrnAmt>
				<sshPrnamt>120815</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>120815</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WASTE MGMT INC DEL</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>94106L100</cusip>
			<value>2720</value>
			<shrsOrPrnAmt>
				<sshPrnamt>60616</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>60616</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WATERS CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>941848100</cusip>
			<value>1189</value>
			<shrsOrPrnAmt>
				<sshPrnamt>11890</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>11890</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WELLPOINT INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>94973V100</cusip>
			<value>3788</value>
			<shrsOrPrnAmt>
				<sshPrnamt>40996</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>40996</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WELLS FARGO &amp; CO N</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>949746100</cusip>
			<value>30203</value>
			<shrsOrPrnAmt>
				<sshPrnamt>665266</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>665266</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WESTERN DIGITAL</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>958102100</cusip>
			<value>2458</value>
			<shrsOrPrnAmt>
				<sshPrnamt>29301</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>29301</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WESTERN UN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>959802100</cusip>
			<value>1322</value>
			<shrsOrPrnAmt>
				<sshPrnamt>76640</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>76640</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WEYERHAEUSER CO CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>962166100</cusip>
			<value>2562</value>
			<shrsOrPrnAmt>
				<sshPrnamt>81142</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>81142</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WHIRLPOOL</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>963320100</cusip>
			<value>1701</value>
			<shrsOrPrnAmt>
				<sshPrnamt>10844</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>10844</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WHOLE FOODS MKT</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>966837100</cusip>
			<value>2992</value>
			<shrsOrPrnAmt>
				<sshPrnamt>51740</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>51740</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WILLIAMS COS COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>969457100</cusip>
			<value>3661</value>
			<shrsOrPrnAmt>
				<sshPrnamt>94928</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>94928</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Windstream Holding</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>97382A100</cusip>
			<value>658</value>
			<shrsOrPrnAmt>
				<sshPrnamt>82395</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>82395</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WISCONSIN ENERGY C</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>976657100</cusip>
			<value>1307</value>
			<shrsOrPrnAmt>
				<sshPrnamt>31610</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>31610</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WPX ENERGY INC.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>98212B100</cusip>
			<value>568</value>
			<shrsOrPrnAmt>
				<sshPrnamt>27876</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>27876</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WYNDHAM WORLDWIDE</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>98310W100</cusip>
			<value>1332</value>
			<shrsOrPrnAmt>
				<sshPrnamt>18071</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>18071</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WYNN RESORTS LTD</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>983134100</cusip>
			<value>2174</value>
			<shrsOrPrnAmt>
				<sshPrnamt>11194</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>11194</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>XCEL ENERGY, INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>98389B100</cusip>
			<value>1931</value>
			<shrsOrPrnAmt>
				<sshPrnamt>69128</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>69128</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>XILINX INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>983919100</cusip>
			<value>1701</value>
			<shrsOrPrnAmt>
				<sshPrnamt>37045</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>37045</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>XEROX</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>984121100</cusip>
			<value>1959</value>
			<shrsOrPrnAmt>
				<sshPrnamt>160962</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>160962</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>XYLEM Inc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>98419M100</cusip>
			<value>891</value>
			<shrsOrPrnAmt>
				<sshPrnamt>25755</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>25755</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>YAHOO INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>984332100</cusip>
			<value>5294</value>
			<shrsOrPrnAmt>
				<sshPrnamt>130921</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>130921</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>YUM BRANDS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>988498100</cusip>
			<value>4686</value>
			<shrsOrPrnAmt>
				<sshPrnamt>61972</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>61972</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ZIMMER HLDGS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>98956P100</cusip>
			<value>2197</value>
			<shrsOrPrnAmt>
				<sshPrnamt>23572</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>23572</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ZIONS BANCORP COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>989701100</cusip>
			<value>768</value>
			<shrsOrPrnAmt>
				<sshPrnamt>25622</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>25622</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ZOETIS, INC.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>98978V100</cusip>
			<value>2271</value>
			<shrsOrPrnAmt>
				<sshPrnamt>69475</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>69475</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FRACTIONAL 1ST HOR</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>DCA517100</cusip>
			<value>0</value>
			<shrsOrPrnAmt>
				<sshPrnamt>455</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>455</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FRACTIONAL MARRIOT</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>FHB903200</cusip>
			<value>0</value>
			<shrsOrPrnAmt>
				<sshPrnamt>72830</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>72830</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ACTAVIS PLC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G0083B100</cusip>
			<value>4052</value>
			<shrsOrPrnAmt>
				<sshPrnamt>24122</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>24122</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ALLEGION PLC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G0176J100</cusip>
			<value>554</value>
			<shrsOrPrnAmt>
				<sshPrnamt>12532</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>12532</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AON PLC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G0408V100</cusip>
			<value>3506</value>
			<shrsOrPrnAmt>
				<sshPrnamt>41795</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>41795</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ACCENTURE PLC-A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G1151C100</cusip>
			<value>7252</value>
			<shrsOrPrnAmt>
				<sshPrnamt>88200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>88200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>COVIDIEN PLC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G2554F110</cusip>
			<value>4356</value>
			<shrsOrPrnAmt>
				<sshPrnamt>63959</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>63959</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DELPHI AUTOMOTIV</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G27823100</cusip>
			<value>2357</value>
			<shrsOrPrnAmt>
				<sshPrnamt>39200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>39200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EATON CORP COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G29183100</cusip>
			<value>5009</value>
			<shrsOrPrnAmt>
				<sshPrnamt>65810</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>65810</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ENSCO PLC-CL A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G3157S100</cusip>
			<value>1858</value>
			<shrsOrPrnAmt>
				<sshPrnamt>32500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>32500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>INGERSOLL-RAND</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G47791100</cusip>
			<value>2291</value>
			<shrsOrPrnAmt>
				<sshPrnamt>37198</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>37198</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Invesco Ltd</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G491BT100</cusip>
			<value>2239</value>
			<shrsOrPrnAmt>
				<sshPrnamt>61514</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>61514</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MICHAEL KORS HOL</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G60754100</cusip>
			<value>2014</value>
			<shrsOrPrnAmt>
				<sshPrnamt>24800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>24800</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NABORS INDUSTRIES</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G6359F100</cusip>
			<value>612</value>
			<shrsOrPrnAmt>
				<sshPrnamt>36034</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>36034</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NOBLE CORP plc</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G65431100</cusip>
			<value>1319</value>
			<shrsOrPrnAmt>
				<sshPrnamt>35205</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>35205</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ROWAN COS PLC Clas</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G7665A100</cusip>
			<value>609</value>
			<shrsOrPrnAmt>
				<sshPrnamt>17214</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>17214</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SEAGATE TECHNOLO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G7945M100</cusip>
			<value>2527</value>
			<shrsOrPrnAmt>
				<sshPrnamt>45000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>45000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PERRIGO CO PLC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G97822100</cusip>
			<value>2839</value>
			<shrsOrPrnAmt>
				<sshPrnamt>18500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>18500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>XL Group PLC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G98290100</cusip>
			<value>1267</value>
			<shrsOrPrnAmt>
				<sshPrnamt>39798</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>39798</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ACE LTD</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>H0023R100</cusip>
			<value>4895</value>
			<shrsOrPrnAmt>
				<sshPrnamt>47278</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>47278</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GARMIN LTD</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>H2906T100</cusip>
			<value>790</value>
			<shrsOrPrnAmt>
				<sshPrnamt>17100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>17100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PENTAIR LTD</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>H6169Q100</cusip>
			<value>2153</value>
			<shrsOrPrnAmt>
				<sshPrnamt>27714</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>27714</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TE CONNECTIVITY</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>H84989100</cusip>
			<value>3136</value>
			<shrsOrPrnAmt>
				<sshPrnamt>56900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>56900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TRANSOCEAN LTD</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>H8817H100</cusip>
			<value>2328</value>
			<shrsOrPrnAmt>
				<sshPrnamt>47100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>47100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TYCO INTL LTD</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>H89128100</cusip>
			<value>2637</value>
			<shrsOrPrnAmt>
				<sshPrnamt>64245</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>64245</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TRAVELCENTERS AMER</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>JKE174100</cusip>
			<value>779</value>
			<shrsOrPrnAmt>
				<sshPrnamt>80000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>80000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LYONDELLBASELL-A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>N53745100</cusip>
			<value>4865</value>
			<shrsOrPrnAmt>
				<sshPrnamt>60600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>60600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NIELSEN HOLDINGS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>N63218100</cusip>
			<value>1611</value>
			<shrsOrPrnAmt>
				<sshPrnamt>35100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>35100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ACADIA REALTY TRUS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>004239100</cusip>
			<value>474</value>
			<shrsOrPrnAmt>
				<sshPrnamt>19100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>19100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ALEXANDER&apos;S INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>014752100</cusip>
			<value>309</value>
			<shrsOrPrnAmt>
				<sshPrnamt>936</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>936</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ALEXANDRIA R E EQU</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>015271100</cusip>
			<value>1480</value>
			<shrsOrPrnAmt>
				<sshPrnamt>23269</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>23269</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AMERICAN ASSETS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>024013100</cusip>
			<value>383</value>
			<shrsOrPrnAmt>
				<sshPrnamt>12200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>12200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AMER CMPS COMM ORD</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>024835100</cusip>
			<value>1168</value>
			<shrsOrPrnAmt>
				<sshPrnamt>36259</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>36259</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AMERICAN HOMES-A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>02665T300</cusip>
			<value>779</value>
			<shrsOrPrnAmt>
				<sshPrnamt>48100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>48100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AMERICAN RESIDEN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>02927E300</cusip>
			<value>84</value>
			<shrsOrPrnAmt>
				<sshPrnamt>4900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>4900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AMREIT INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>03216B200</cusip>
			<value>116</value>
			<shrsOrPrnAmt>
				<sshPrnamt>6900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>6900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>APARTMENT INVT &amp; M</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>03748R100</cusip>
			<value>1307</value>
			<shrsOrPrnAmt>
				<sshPrnamt>50448</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>50448</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Ashford Hospitalit</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>044102100</cusip>
			<value>102</value>
			<shrsOrPrnAmt>
				<sshPrnamt>5603</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>5603</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>Ashford Hospitalit</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>044103100</cusip>
			<value>232</value>
			<shrsOrPrnAmt>
				<sshPrnamt>28015</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>28015</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ASSOCIATED ESTATES</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>045604100</cusip>
			<value>285</value>
			<shrsOrPrnAmt>
				<sshPrnamt>17726</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>17726</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AVALONBAY COMMUNIT</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>053484100</cusip>
			<value>5293</value>
			<shrsOrPrnAmt>
				<sshPrnamt>44769</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>44769</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BRE PROPERTIES  -C</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>05564E100</cusip>
			<value>1460</value>
			<shrsOrPrnAmt>
				<sshPrnamt>26689</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>26689</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BIOMED REALTY TRUS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>09063H100</cusip>
			<value>1235</value>
			<shrsOrPrnAmt>
				<sshPrnamt>68151</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>68151</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BOSTON PROPERTIES</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>101121100</cusip>
			<value>5301</value>
			<shrsOrPrnAmt>
				<sshPrnamt>52812</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>52812</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BRANDYWINE REALTY</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>105368200</cusip>
			<value>778</value>
			<shrsOrPrnAmt>
				<sshPrnamt>55201</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>55201</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BRIXMOR PROPERTY</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>11120U100</cusip>
			<value>291</value>
			<shrsOrPrnAmt>
				<sshPrnamt>14300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>14300</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CBL &amp; ASSOCIATES P</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>124830100</cusip>
			<value>1020</value>
			<shrsOrPrnAmt>
				<sshPrnamt>56777</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>56777</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CAMDEN PROPERTY TR</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>133131100</cusip>
			<value>1675</value>
			<shrsOrPrnAmt>
				<sshPrnamt>29445</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>29445</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CAMPUS CREST COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>13466Y100</cusip>
			<value>206</value>
			<shrsOrPrnAmt>
				<sshPrnamt>21844</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>21844</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CEDAR REALTY TRUST</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>150602200</cusip>
			<value>161</value>
			<shrsOrPrnAmt>
				<sshPrnamt>25642</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>25642</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CHATHAM LODGING</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>16208T100</cusip>
			<value>178</value>
			<shrsOrPrnAmt>
				<sshPrnamt>8700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>8700</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CHESAPEAKE LODGI</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>165240100</cusip>
			<value>359</value>
			<shrsOrPrnAmt>
				<sshPrnamt>14200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>14200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>COLUMBIA PROPERT</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>198287200</cusip>
			<value>1160</value>
			<shrsOrPrnAmt>
				<sshPrnamt>46400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>46400</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CommonWealth REIT</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>203233100</cusip>
			<value>977</value>
			<shrsOrPrnAmt>
				<sshPrnamt>41910</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>41910</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CORESITE REALTY</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>21870Q100</cusip>
			<value>246</value>
			<shrsOrPrnAmt>
				<sshPrnamt>7630</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>7630</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CORP OFFICE PPTYS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>22002T100</cusip>
			<value>653</value>
			<shrsOrPrnAmt>
				<sshPrnamt>27567</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>27567</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>COUSINS PROPERTIES</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>222795100</cusip>
			<value>655</value>
			<shrsOrPrnAmt>
				<sshPrnamt>63571</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>63571</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CubeSmart</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>229663100</cusip>
			<value>762</value>
			<shrsOrPrnAmt>
				<sshPrnamt>47805</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>47805</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DCT INDUSTRIAL TRU</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>233153100</cusip>
			<value>784</value>
			<shrsOrPrnAmt>
				<sshPrnamt>109953</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>109953</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DDR Corp</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>23317H100</cusip>
			<value>1680</value>
			<shrsOrPrnAmt>
				<sshPrnamt>109289</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>109289</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DIAMONDROCK HOSPIT</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>252784300</cusip>
			<value>807</value>
			<shrsOrPrnAmt>
				<sshPrnamt>69878</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>69878</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DIGITAL REALTY TRU</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>253868100</cusip>
			<value>2182</value>
			<shrsOrPrnAmt>
				<sshPrnamt>44425</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>44425</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DOUGLAS EMMETT INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>25960P100</cusip>
			<value>1147</value>
			<shrsOrPrnAmt>
				<sshPrnamt>49253</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>49253</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DUKE REALTY CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>264411500</cusip>
			<value>1730</value>
			<shrsOrPrnAmt>
				<sshPrnamt>115042</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>115042</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DUPONT FABROS TECH</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>26613Q100</cusip>
			<value>582</value>
			<shrsOrPrnAmt>
				<sshPrnamt>23545</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>23545</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EASTGROUP PROPERTI</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>277276100</cusip>
			<value>621</value>
			<shrsOrPrnAmt>
				<sshPrnamt>10716</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>10716</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EDUCATION REALTY T</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>28140H100</cusip>
			<value>360</value>
			<shrsOrPrnAmt>
				<sshPrnamt>40763</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>40763</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EMPIRE STATE REA</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>292104100</cusip>
			<value>476</value>
			<shrsOrPrnAmt>
				<sshPrnamt>31100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>31100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EQUITY LIFESTYLE P</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>29472R100</cusip>
			<value>1044</value>
			<shrsOrPrnAmt>
				<sshPrnamt>28812</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>28812</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EQUITY ONE INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>294752100</cusip>
			<value>514</value>
			<shrsOrPrnAmt>
				<sshPrnamt>22912</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>22912</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EQUITY RESIDENTIAL</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>29476L100</cusip>
			<value>6461</value>
			<shrsOrPrnAmt>
				<sshPrnamt>124570</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>124570</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ESSEX PROPERTY TRU</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>297178100</cusip>
			<value>1889</value>
			<shrsOrPrnAmt>
				<sshPrnamt>13164</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>13164</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EXCEL TRUST INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>30068C100</cusip>
			<value>178</value>
			<shrsOrPrnAmt>
				<sshPrnamt>15600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>15600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EXTRA SPACE STORAG</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>30225T100</cusip>
			<value>1667</value>
			<shrsOrPrnAmt>
				<sshPrnamt>39557</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>39557</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FEDERAL REALTY INV</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>313747200</cusip>
			<value>2284</value>
			<shrsOrPrnAmt>
				<sshPrnamt>22519</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>22519</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FELCOR LODGING TR</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>31430F100</cusip>
			<value>333</value>
			<shrsOrPrnAmt>
				<sshPrnamt>40796</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>40796</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FIRST INDL REALTY</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>32054K100</cusip>
			<value>675</value>
			<shrsOrPrnAmt>
				<sshPrnamt>38706</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>38706</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>First Potomac Real</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>33610F100</cusip>
			<value>240</value>
			<shrsOrPrnAmt>
				<sshPrnamt>20618</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>20618</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FRANKLIN STREET</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>35471R100</cusip>
			<value>394</value>
			<shrsOrPrnAmt>
				<sshPrnamt>32961</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>32961</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GENERAL GROWTH PPT</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>370023100</cusip>
			<value>2782</value>
			<shrsOrPrnAmt>
				<sshPrnamt>138623</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>138623</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GLIMCHER REALTY</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>379302100</cusip>
			<value>480</value>
			<shrsOrPrnAmt>
				<sshPrnamt>51250</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>51250</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GOVERNMENT PROPERT</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>38376A100</cusip>
			<value>399</value>
			<shrsOrPrnAmt>
				<sshPrnamt>16057</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>16057</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HCP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>40414L100</cusip>
			<value>5728</value>
			<shrsOrPrnAmt>
				<sshPrnamt>157723</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>157723</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HEALTHCARE REALTY</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>421946100</cusip>
			<value>719</value>
			<shrsOrPrnAmt>
				<sshPrnamt>33763</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>33763</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HEALTH CARE REIT I</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>42217K100</cusip>
			<value>5344</value>
			<shrsOrPrnAmt>
				<sshPrnamt>99758</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>99758</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HEALTHCARE TRUST</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>42225P100</cusip>
			<value>565</value>
			<shrsOrPrnAmt>
				<sshPrnamt>57400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>57400</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HERSHA HOSPITALITY</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>427825100</cusip>
			<value>397</value>
			<shrsOrPrnAmt>
				<sshPrnamt>71285</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>71285</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HIGHWOODS PROPERTI</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>431284100</cusip>
			<value>1100</value>
			<shrsOrPrnAmt>
				<sshPrnamt>30413</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>30413</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HOME PROPERTIES IN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>437306100</cusip>
			<value>1072</value>
			<shrsOrPrnAmt>
				<sshPrnamt>19997</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>19997</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HOSPITALITY PROPER</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>44106M100</cusip>
			<value>1385</value>
			<shrsOrPrnAmt>
				<sshPrnamt>51252</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>51252</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HOST MARRIOTT CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>44107P100</cusip>
			<value>5083</value>
			<shrsOrPrnAmt>
				<sshPrnamt>261495</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>261495</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HUDSON PACIFIC P</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>444097100</cusip>
			<value>373</value>
			<shrsOrPrnAmt>
				<sshPrnamt>17033</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>17033</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>INLAND REAL ESTATE</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>457461200</cusip>
			<value>375</value>
			<shrsOrPrnAmt>
				<sshPrnamt>35613</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>35613</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>INVESTORS REAL</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>461730100</cusip>
			<value>315</value>
			<shrsOrPrnAmt>
				<sshPrnamt>36673</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>36673</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KILROY REALTY CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>49427F100</cusip>
			<value>1425</value>
			<shrsOrPrnAmt>
				<sshPrnamt>28406</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>28406</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KIMCO REALTY CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>49446R100</cusip>
			<value>2658</value>
			<shrsOrPrnAmt>
				<sshPrnamt>134580</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>134580</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KITE REALTY GROUP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>49803T100</cusip>
			<value>291</value>
			<shrsOrPrnAmt>
				<sshPrnamt>44346</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>44346</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LASALLE HOTEL PROP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>517942100</cusip>
			<value>1055</value>
			<shrsOrPrnAmt>
				<sshPrnamt>34192</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>34192</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LIBERTY PROPERTY T</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>531172100</cusip>
			<value>1705</value>
			<shrsOrPrnAmt>
				<sshPrnamt>50344</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>50344</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MACERICH CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>554382100</cusip>
			<value>2860</value>
			<shrsOrPrnAmt>
				<sshPrnamt>48562</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>48562</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MACK CALI REALTY C</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>554489100</cusip>
			<value>676</value>
			<shrsOrPrnAmt>
				<sshPrnamt>31463</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>31463</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MID-AMERICA APT CM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>59522J100</cusip>
			<value>1572</value>
			<shrsOrPrnAmt>
				<sshPrnamt>25882</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>25882</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MONMOUTH REIT-A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>609720100</cusip>
			<value>128</value>
			<shrsOrPrnAmt>
				<sshPrnamt>14040</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>14040</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NATIONAL HEALTH IN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>63633D100</cusip>
			<value>544</value>
			<shrsOrPrnAmt>
				<sshPrnamt>9702</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>9702</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PS BUSINESS PARKS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>69360J100</cusip>
			<value>508</value>
			<shrsOrPrnAmt>
				<sshPrnamt>6648</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>6648</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PARKWAY PROPERTIES</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>70159Q100</cusip>
			<value>530</value>
			<shrsOrPrnAmt>
				<sshPrnamt>27457</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>27457</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PEBBLEBROOK HOTE</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>70509V100</cusip>
			<value>675</value>
			<shrsOrPrnAmt>
				<sshPrnamt>21937</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>21937</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PENNSYLVANIA RE IN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>709102100</cusip>
			<value>452</value>
			<shrsOrPrnAmt>
				<sshPrnamt>23824</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>23824</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PIEDMONT OFFIC-A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>720190200</cusip>
			<value>921</value>
			<shrsOrPrnAmt>
				<sshPrnamt>55745</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>55745</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>POST PROPERTIES IN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>737464100</cusip>
			<value>881</value>
			<shrsOrPrnAmt>
				<sshPrnamt>19489</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>19489</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PROLOGIS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>74340W100</cusip>
			<value>6370</value>
			<shrsOrPrnAmt>
				<sshPrnamt>172395</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>172395</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PUBLIC STORAGE INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>74460D100</cusip>
			<value>7522</value>
			<shrsOrPrnAmt>
				<sshPrnamt>49971</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>49971</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>RLJ LODGING TRUS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>74965L100</cusip>
			<value>1031</value>
			<shrsOrPrnAmt>
				<sshPrnamt>42375</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>42375</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>RAMCO GERSHENSN ST</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>751452200</cusip>
			<value>368</value>
			<shrsOrPrnAmt>
				<sshPrnamt>23398</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>23398</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>REGENCY CENTERS CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>758849100</cusip>
			<value>1477</value>
			<shrsOrPrnAmt>
				<sshPrnamt>31895</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>31895</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>RETAIL OPPORTUNI</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>76131N100</cusip>
			<value>302</value>
			<shrsOrPrnAmt>
				<sshPrnamt>20500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>20500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>RETAIL PROPERTIE</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>76131V200</cusip>
			<value>262</value>
			<shrsOrPrnAmt>
				<sshPrnamt>20600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>20600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ROUSE PROPERTIES I</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>779287100</cusip>
			<value>235</value>
			<shrsOrPrnAmt>
				<sshPrnamt>10607</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>10607</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>RYMAN HOSPITALIT</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>78377T100</cusip>
			<value>623</value>
			<shrsOrPrnAmt>
				<sshPrnamt>14900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>14900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SL GREEN REALTY CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>78440X100</cusip>
			<value>2942</value>
			<shrsOrPrnAmt>
				<sshPrnamt>31849</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>31849</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SABRA HEALTH CAR</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>78573L100</cusip>
			<value>348</value>
			<shrsOrPrnAmt>
				<sshPrnamt>13300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>13300</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SAUL CENTERS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>804395100</cusip>
			<value>211</value>
			<shrsOrPrnAmt>
				<sshPrnamt>4427</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>4427</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SENIOR HOUSING PRO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>81721M100</cusip>
			<value>1446</value>
			<shrsOrPrnAmt>
				<sshPrnamt>65031</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>65031</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SILVER BAY REALT</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>82735Q100</cusip>
			<value>209</value>
			<shrsOrPrnAmt>
				<sshPrnamt>13100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>13100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SIMON PROPERTY GRO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>828806100</cusip>
			<value>16330</value>
			<shrsOrPrnAmt>
				<sshPrnamt>107322</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>107322</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SOVRAN SELF STORAG</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>84610H100</cusip>
			<value>729</value>
			<shrsOrPrnAmt>
				<sshPrnamt>11181</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>11181</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>STRATEGIC HOTELS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>86272T100</cusip>
			<value>613</value>
			<shrsOrPrnAmt>
				<sshPrnamt>64862</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>64862</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SUMMIT HOTEL PRO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>866082100</cusip>
			<value>257</value>
			<shrsOrPrnAmt>
				<sshPrnamt>28593</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>28593</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SUN COMMUNITIES IN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>866674100</cusip>
			<value>521</value>
			<shrsOrPrnAmt>
				<sshPrnamt>12226</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>12226</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SUNSTONE HOTEL INV</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>867892100</cusip>
			<value>864</value>
			<shrsOrPrnAmt>
				<sshPrnamt>64452</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>64452</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TANGER FACTORY OUT</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>875465100</cusip>
			<value>963</value>
			<shrsOrPrnAmt>
				<sshPrnamt>30082</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>30082</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TAUBMAN CENTERS IN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>876664100</cusip>
			<value>1403</value>
			<shrsOrPrnAmt>
				<sshPrnamt>21946</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>21946</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TERRENO REALTY C</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>88146M100</cusip>
			<value>142</value>
			<shrsOrPrnAmt>
				<sshPrnamt>8000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>8000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>UDR, INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>902653100</cusip>
			<value>2025</value>
			<shrsOrPrnAmt>
				<sshPrnamt>86714</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>86714</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>UNIVERSAL HEALTH R</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>91359E100</cusip>
			<value>172</value>
			<shrsOrPrnAmt>
				<sshPrnamt>4301</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>4301</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>URSTADT BIDDLE-A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>917286200</cusip>
			<value>214</value>
			<shrsOrPrnAmt>
				<sshPrnamt>11616</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>11616</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>VENTAS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>92276F100</cusip>
			<value>5826</value>
			<shrsOrPrnAmt>
				<sshPrnamt>101703</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>101703</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>VORNADO REALTY TRU</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>929042100</cusip>
			<value>5738</value>
			<shrsOrPrnAmt>
				<sshPrnamt>64629</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>64629</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WASHINGTON REIT</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>939653100</cusip>
			<value>556</value>
			<shrsOrPrnAmt>
				<sshPrnamt>23822</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>23822</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WEINGARTEN REALTY</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>948741100</cusip>
			<value>1157</value>
			<shrsOrPrnAmt>
				<sshPrnamt>42192</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>42192</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>COMMONWEALTHREIT F</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>CAD233100</cusip>
			<value>0</value>
			<shrsOrPrnAmt>
				<sshPrnamt>50000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>50000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
</informationTable>
