<informationTable xmlns="http://www.sec.gov/edgar/document/thirteenf/informationtable">		<infoTable>
			<nameOfIssuer>ACADIA REALTY TRUST</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>004239109</cusip>
			<value>364</value>
			<shrsOrPrnAmt>
				<sshPrnamt>13200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>13200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ALEXANDER S INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>014752109</cusip>
			<value>200</value>
			<shrsOrPrnAmt>
				<sshPrnamt>536</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>536</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ALEXANDRIA REAL ESTATE EQUIT</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>015271109</cusip>
			<value>1119</value>
			<shrsOrPrnAmt>
				<sshPrnamt>15169</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>15169</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AMERICAN ASSETS TRUST INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>024013104</cusip>
			<value>277</value>
			<shrsOrPrnAmt>
				<sshPrnamt>8400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>8400</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AMERICAN CAMPUS COMMUNITIES</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>024835100</cusip>
			<value>881</value>
			<shrsOrPrnAmt>
				<sshPrnamt>24159</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>24159</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AMERICAN HOMES 4 RENT  A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>02665T306</cusip>
			<value>549</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>AMERICAN RESIDENTIAL PROPERT</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>02927E303</cusip>
			<value>59</value>
			<shrsOrPrnAmt>
				<sshPrnamt>3200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>3200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AMREIT INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>03216B208</cusip>
			<value>103</value>
			<shrsOrPrnAmt>
				<sshPrnamt>4500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>4500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>APARTMENT INVT + MGMT CO  A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>03748R101</cusip>
			<value>1071</value>
			<shrsOrPrnAmt>
				<sshPrnamt>33648</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>33648</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ASHFORD HOSPITALITY PRIME IN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>044102101</cusip>
			<value>85</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 HOSPITALITY TRUST</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>044103109</cusip>
			<value>209</value>
			<shrsOrPrnAmt>
				<sshPrnamt>20415</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>20415</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ASSOCIATED ESTATES REALTY CP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>045604105</cusip>
			<value>232</value>
			<shrsOrPrnAmt>
				<sshPrnamt>13226</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>13226</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AVALONBAY COMMUNITIES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>053484101</cusip>
			<value>4253</value>
			<shrsOrPrnAmt>
				<sshPrnamt>30169</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>30169</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BIOMED REALTY TRUST INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>09063H107</cusip>
			<value>898</value>
			<shrsOrPrnAmt>
				<sshPrnamt>44451</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>44451</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BOSTON PROPERTIES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>101121101</cusip>
			<value>4088</value>
			<shrsOrPrnAmt>
				<sshPrnamt>35312</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>35312</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BRANDYWINE REALTY TRUST</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>105368203</cusip>
			<value>570</value>
			<shrsOrPrnAmt>
				<sshPrnamt>40501</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>40501</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BRIXMOR PROPERTY GROUP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>11120U105</cusip>
			<value>227</value>
			<shrsOrPrnAmt>
				<sshPrnamt>10200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>10200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CBL + ASSOCIATES PROPERTIES</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>124830100</cusip>
			<value>703</value>
			<shrsOrPrnAmt>
				<sshPrnamt>39277</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>39277</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CAMDEN PROPERTY TRUST</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>133131102</cusip>
			<value>1353</value>
			<shrsOrPrnAmt>
				<sshPrnamt>19745</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>19745</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CAMPUS CREST COMMUNITIES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>13466Y105</cusip>
			<value>95</value>
			<shrsOrPrnAmt>
				<sshPrnamt>14844</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>14844</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CEDAR REALTY TRUST INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>150602209</cusip>
			<value>108</value>
			<shrsOrPrnAmt>
				<sshPrnamt>18242</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>18242</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CHATHAM LODGING TRUST</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>16208T102</cusip>
			<value>141</value>
			<shrsOrPrnAmt>
				<sshPrnamt>6100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>6100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CHESAPEAKE LODGING TRUST</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>165240102</cusip>
			<value>277</value>
			<shrsOrPrnAmt>
				<sshPrnamt>9500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>9500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>COLUMBIA PROPERTY TRUST INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>198287203</cusip>
			<value>687</value>
			<shrsOrPrnAmt>
				<sshPrnamt>28800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>28800</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CORESITE REALTY CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>21870Q105</cusip>
			<value>162</value>
			<shrsOrPrnAmt>
				<sshPrnamt>4930</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>4930</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CORPORATE OFFICE PROPERTIES</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>22002T108</cusip>
			<value>467</value>
			<shrsOrPrnAmt>
				<sshPrnamt>18167</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>18167</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>COUSINS PROPERTIES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>222795106</cusip>
			<value>606</value>
			<shrsOrPrnAmt>
				<sshPrnamt>50671</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>50671</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CUBESMART</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>229663109</cusip>
			<value>615</value>
			<shrsOrPrnAmt>
				<sshPrnamt>34205</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>34205</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DCT INDUSTRIAL TRUST INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>233153105</cusip>
			<value>576</value>
			<shrsOrPrnAmt>
				<sshPrnamt>76753</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>76753</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DDR CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>23317H102</cusip>
			<value>1233</value>
			<shrsOrPrnAmt>
				<sshPrnamt>73689</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>73689</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DIAMONDROCK HOSPITALITY CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>252784301</cusip>
			<value>572</value>
			<shrsOrPrnAmt>
				<sshPrnamt>45078</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>45078</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DIGITAL REALTY TRUST INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>253868103</cusip>
			<value>1948</value>
			<shrsOrPrnAmt>
				<sshPrnamt>31225</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>31225</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DOUGLAS EMMETT INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>25960P109</cusip>
			<value>848</value>
			<shrsOrPrnAmt>
				<sshPrnamt>33053</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>33053</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DUKE REALTY CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>264411505</cusip>
			<value>1349</value>
			<shrsOrPrnAmt>
				<sshPrnamt>78542</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>78542</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DUPONT FABROS TECHNOLOGY</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>26613Q106</cusip>
			<value>410</value>
			<shrsOrPrnAmt>
				<sshPrnamt>15145</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>15145</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EASTGROUP PROPERTIES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>277276101</cusip>
			<value>431</value>
			<shrsOrPrnAmt>
				<sshPrnamt>7116</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>7116</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EDUCATION REALTY TRUST INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>28140H104</cusip>
			<value>323</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>EMPIRE STATE REALTY TRUST A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>292104106</cusip>
			<value>278</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>EQUITY COMMONWEALTH</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>294628102</cusip>
			<value>764</value>
			<shrsOrPrnAmt>
				<sshPrnamt>29710</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>29710</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EQUITY LIFESTYLE PROPERTIES</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>29472R108</cusip>
			<value>814</value>
			<shrsOrPrnAmt>
				<sshPrnamt>19212</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>19212</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EQUITY ONE INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>294752100</cusip>
			<value>333</value>
			<shrsOrPrnAmt>
				<sshPrnamt>15412</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>15412</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EQUITY RESIDENTIAL</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>29476L107</cusip>
			<value>5128</value>
			<shrsOrPrnAmt>
				<sshPrnamt>83270</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>83270</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ESSEX PROPERTY TRUST INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>297178105</cusip>
			<value>2608</value>
			<shrsOrPrnAmt>
				<sshPrnamt>14593</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>14593</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EXCEL TRUST INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>30068C109</cusip>
			<value>152</value>
			<shrsOrPrnAmt>
				<sshPrnamt>12900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>12900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EXTRA SPACE STORAGE INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>30225T102</cusip>
			<value>1375</value>
			<shrsOrPrnAmt>
				<sshPrnamt>26657</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>26657</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FEDERAL REALTY INVS TRUST</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>313747206</cusip>
			<value>1838</value>
			<shrsOrPrnAmt>
				<sshPrnamt>15519</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>15519</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FELCOR LODGING TRUST INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>31430F101</cusip>
			<value>249</value>
			<shrsOrPrnAmt>
				<sshPrnamt>26596</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>26596</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FIRST INDUSTRIAL REALTY TR</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>32054K103</cusip>
			<value>430</value>
			<shrsOrPrnAmt>
				<sshPrnamt>25406</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>25406</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FIRST POTOMAC REALTY TRUST</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>33610F109</cusip>
			<value>159</value>
			<shrsOrPrnAmt>
				<sshPrnamt>13518</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>13518</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FRANKLIN STREET PROPERTIES C</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>35471R106</cusip>
			<value>246</value>
			<shrsOrPrnAmt>
				<sshPrnamt>21961</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>21961</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GENERAL GROWTH PROPERTIES</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>370023103</cusip>
			<value>2111</value>
			<shrsOrPrnAmt>
				<sshPrnamt>89623</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>89623</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GLIMCHER REALTY TRUST</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>379302102</cusip>
			<value>453</value>
			<shrsOrPrnAmt>
				<sshPrnamt>33450</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>33450</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GOVERNMENT PROPERTIES INCOME</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>38376A103</cusip>
			<value>310</value>
			<shrsOrPrnAmt>
				<sshPrnamt>14157</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>14157</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HCP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>40414L109</cusip>
			<value>4194</value>
			<shrsOrPrnAmt>
				<sshPrnamt>105623</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>105623</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HEALTHCARE REALTY TRUST INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>421946104</cusip>
			<value>525</value>
			<shrsOrPrnAmt>
				<sshPrnamt>22163</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>22163</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HEALTH CARE REIT INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>42217K106</cusip>
			<value>4432</value>
			<shrsOrPrnAmt>
				<sshPrnamt>71058</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>71058</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HEALTHCARE TRUST OF AME CL A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>42225P105</cusip>
			<value>514</value>
			<shrsOrPrnAmt>
				<sshPrnamt>44300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>44300</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HERSHA HOSPITALITY TRUST</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>427825104</cusip>
			<value>298</value>
			<shrsOrPrnAmt>
				<sshPrnamt>46785</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>46785</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HIGHWOODS PROPERTIES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>431284108</cusip>
			<value>806</value>
			<shrsOrPrnAmt>
				<sshPrnamt>20713</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>20713</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HOME PROPERTIES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>437306103</cusip>
			<value>769</value>
			<shrsOrPrnAmt>
				<sshPrnamt>13197</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>13197</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HOSPITALITY PROPERTIES TRUST</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>44106M102</cusip>
			<value>925</value>
			<shrsOrPrnAmt>
				<sshPrnamt>34452</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>34452</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HOST HOTELS + RESORTS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>44107P104</cusip>
			<value>3722</value>
			<shrsOrPrnAmt>
				<sshPrnamt>174495</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>174495</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HUDSON PACIFIC PROPERTIES IN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>444097109</cusip>
			<value>381</value>
			<shrsOrPrnAmt>
				<sshPrnamt>15433</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>15433</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>INLAND REAL ESTATE CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>457461200</cusip>
			<value>228</value>
			<shrsOrPrnAmt>
				<sshPrnamt>23013</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>23013</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>INVESTORS REAL ESTATE TRUST</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>461730103</cusip>
			<value>203</value>
			<shrsOrPrnAmt>
				<sshPrnamt>26373</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>26373</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KILROY REALTY CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>49427F108</cusip>
			<value>1142</value>
			<shrsOrPrnAmt>
				<sshPrnamt>19206</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>19206</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KIMCO REALTY CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>49446R109</cusip>
			<value>2070</value>
			<shrsOrPrnAmt>
				<sshPrnamt>94480</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>94480</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KITE REALTY GROUP TRUST</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>49803T300</cusip>
			<value>464</value>
			<shrsOrPrnAmt>
				<sshPrnamt>19161</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>19161</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LASALLE HOTEL PROPERTIES</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>517942108</cusip>
			<value>821</value>
			<shrsOrPrnAmt>
				<sshPrnamt>23992</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>23992</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LIBERTY PROPERTY TRUST</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>531172104</cusip>
			<value>1129</value>
			<shrsOrPrnAmt>
				<sshPrnamt>33944</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>33944</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
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		<infoTable>
			<nameOfIssuer>MACERICH CO/THE</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>554382101</cusip>
			<value>2066</value>
			<shrsOrPrnAmt>
				<sshPrnamt>32362</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>32362</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MACK CALI REALTY CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>554489104</cusip>
			<value>391</value>
			<shrsOrPrnAmt>
				<sshPrnamt>20463</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>20463</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MID AMERICA APARTMENT COMM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>59522J103</cusip>
			<value>1135</value>
			<shrsOrPrnAmt>
				<sshPrnamt>17282</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>17282</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MONMOUTH REAL ESTATE INV COR</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>609720107</cusip>
			<value>128</value>
			<shrsOrPrnAmt>
				<sshPrnamt>12640</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>12640</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NATL HEALTH INVESTORS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>63633D104</cusip>
			<value>412</value>
			<shrsOrPrnAmt>
				<sshPrnamt>7202</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>7202</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NEW YORK REIT INC W/D</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>64976L109</cusip>
			<value>418</value>
			<shrsOrPrnAmt>
				<sshPrnamt>40700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>40700</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PS BUSINESS PARKS INC/CA</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>69360J107</cusip>
			<value>346</value>
			<shrsOrPrnAmt>
				<sshPrnamt>4548</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>4548</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PARKWAY PROPERTIES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>70159Q104</cusip>
			<value>429</value>
			<shrsOrPrnAmt>
				<sshPrnamt>22857</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>22857</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PEBBLEBROOK HOTEL TRUST</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>70509V100</cusip>
			<value>580</value>
			<shrsOrPrnAmt>
				<sshPrnamt>15537</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>15537</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PENN REAL ESTATE INVEST TST</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>709102107</cusip>
			<value>316</value>
			<shrsOrPrnAmt>
				<sshPrnamt>15824</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>15824</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PIEDMONT OFFICE REALTY TRU A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>720190206</cusip>
			<value>627</value>
			<shrsOrPrnAmt>
				<sshPrnamt>35545</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>35545</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>POST PROPERTIES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>737464107</cusip>
			<value>641</value>
			<shrsOrPrnAmt>
				<sshPrnamt>12489</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>12489</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PROLOGIS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>74340W103</cusip>
			<value>4343</value>
			<shrsOrPrnAmt>
				<sshPrnamt>115195</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>115195</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PUBLIC STORAGE</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>74460D109</cusip>
			<value>5534</value>
			<shrsOrPrnAmt>
				<sshPrnamt>33371</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>33371</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>RLJ LODGING TRUST</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>74965L101</cusip>
			<value>859</value>
			<shrsOrPrnAmt>
				<sshPrnamt>30175</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>30175</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>RAMCO GERSHENSON PROPERTIES</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>751452202</cusip>
			<value>286</value>
			<shrsOrPrnAmt>
				<sshPrnamt>17598</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>17598</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>REGENCY CENTERS CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>758849103</cusip>
			<value>1146</value>
			<shrsOrPrnAmt>
				<sshPrnamt>21295</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>21295</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>RETAIL OPPORTUNITY INVESTMEN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>76131N101</cusip>
			<value>200</value>
			<shrsOrPrnAmt>
				<sshPrnamt>13600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>13600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>RETAIL PROPERTIES OF AME   A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>76131V202</cusip>
			<value>199</value>
			<shrsOrPrnAmt>
				<sshPrnamt>13600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>13600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ROUSE PROPERTIES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>779287101</cusip>
			<value>139</value>
			<shrsOrPrnAmt>
				<sshPrnamt>8607</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>8607</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>RYMAN HOSPITALITY PROPERTIES</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>78377T107</cusip>
			<value>553</value>
			<shrsOrPrnAmt>
				<sshPrnamt>11700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>11700</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SL GREEN REALTY CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>78440X101</cusip>
			<value>2224</value>
			<shrsOrPrnAmt>
				<sshPrnamt>21949</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>21949</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SABRA HEALTH CARE REIT INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>78573L106</cusip>
			<value>260</value>
			<shrsOrPrnAmt>
				<sshPrnamt>10700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>10700</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SAUL CENTERS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>804395101</cusip>
			<value>127</value>
			<shrsOrPrnAmt>
				<sshPrnamt>2727</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>2727</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SENIOR HOUSING PROP TRUST</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>81721M109</cusip>
			<value>982</value>
			<shrsOrPrnAmt>
				<sshPrnamt>46931</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>46931</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SILVER BAY REALTY TRUST CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>82735Q102</cusip>
			<value>139</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>SIMON PROPERTY GROUP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>828806109</cusip>
			<value>11776</value>
			<shrsOrPrnAmt>
				<sshPrnamt>71622</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>71622</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SOVRAN SELF STORAGE INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>84610H108</cusip>
			<value>564</value>
			<shrsOrPrnAmt>
				<sshPrnamt>7581</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>7581</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>STRATEGIC HOTELS + RESORTS I</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>86272T106</cusip>
			<value>651</value>
			<shrsOrPrnAmt>
				<sshPrnamt>55862</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>55862</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SUMMIT HOTEL PROPERTIES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>866082100</cusip>
			<value>212</value>
			<shrsOrPrnAmt>
				<sshPrnamt>19693</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>19693</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SUN COMMUNITIES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>866674104</cusip>
			<value>527</value>
			<shrsOrPrnAmt>
				<sshPrnamt>10426</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>10426</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SUNSTONE HOTEL INVESTORS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>867892101</cusip>
			<value>654</value>
			<shrsOrPrnAmt>
				<sshPrnamt>47352</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>47352</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TANGER FACTORY OUTLET CENTER</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>875465106</cusip>
			<value>680</value>
			<shrsOrPrnAmt>
				<sshPrnamt>20782</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>20782</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TAUBMAN CENTERS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>876664103</cusip>
			<value>1062</value>
			<shrsOrPrnAmt>
				<sshPrnamt>14546</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>14546</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TERRENO REALTY CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>88146M101</cusip>
			<value>139</value>
			<shrsOrPrnAmt>
				<sshPrnamt>7400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>7400</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>UDR INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>902653104</cusip>
			<value>1581</value>
			<shrsOrPrnAmt>
				<sshPrnamt>58014</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>58014</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>UNIVERSAL HEALTH RLTY INCOME</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>91359E105</cusip>
			<value>117</value>
			<shrsOrPrnAmt>
				<sshPrnamt>2801</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>2801</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>URSTADT BIDDLE   CLASS A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>917286205</cusip>
			<value>153</value>
			<shrsOrPrnAmt>
				<sshPrnamt>7516</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>7516</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>VENTAS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>92276F100</cusip>
			<value>4207</value>
			<shrsOrPrnAmt>
				<sshPrnamt>67903</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>67903</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>VORNADO REALTY TRUST</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>929042109</cusip>
			<value>4321</value>
			<shrsOrPrnAmt>
				<sshPrnamt>43229</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>43229</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WASHINGTON PRIME GROUP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>939647103</cusip>
			<value>634</value>
			<shrsOrPrnAmt>
				<sshPrnamt>36261</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>36261</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WASHINGTON REIT</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>939653101</cusip>
			<value>389</value>
			<shrsOrPrnAmt>
				<sshPrnamt>15322</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>15322</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WEINGARTEN REALTY INVESTORS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>948741103</cusip>
			<value>885</value>
			<shrsOrPrnAmt>
				<sshPrnamt>28092</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>28092</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EQUITY COMWLTH</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>CKE628105</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>
		<infoTable>
			<nameOfIssuer>ADT CORP/THE</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>00101J106</cusip>
			<value>825</value>
			<shrsOrPrnAmt>
				<sshPrnamt>23272</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>23272</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AFLAC INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>001055102</cusip>
			<value>3533</value>
			<shrsOrPrnAmt>
				<sshPrnamt>60653</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>60653</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AGL RESOURCES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>001204106</cusip>
			<value>819</value>
			<shrsOrPrnAmt>
				<sshPrnamt>15957</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>15957</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AES CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>00130H105</cusip>
			<value>1250</value>
			<shrsOrPrnAmt>
				<sshPrnamt>88172</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>88172</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AT+T INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>00206R102</cusip>
			<value>24419</value>
			<shrsOrPrnAmt>
				<sshPrnamt>692943</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>692943</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ABBOTT LABORATORIES</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>002824100</cusip>
			<value>8341</value>
			<shrsOrPrnAmt>
				<sshPrnamt>200542</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>200542</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ABBVIE INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>00287Y109</cusip>
			<value>12265</value>
			<shrsOrPrnAmt>
				<sshPrnamt>212342</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>212342</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ADOBE SYSTEMS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>00724F101</cusip>
			<value>4277</value>
			<shrsOrPrnAmt>
				<sshPrnamt>61818</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>61818</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AETNA INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>00817Y108</cusip>
			<value>3864</value>
			<shrsOrPrnAmt>
				<sshPrnamt>47700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>47700</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AFFILIATED MANAGERS GROUP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>008252108</cusip>
			<value>1483</value>
			<shrsOrPrnAmt>
				<sshPrnamt>7400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>7400</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AGILENT TECHNOLOGIES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>00846U101</cusip>
			<value>2535</value>
			<shrsOrPrnAmt>
				<sshPrnamt>44493</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>44493</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AIR PRODUCTS + CHEMICALS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>009158106</cusip>
			<value>3339</value>
			<shrsOrPrnAmt>
				<sshPrnamt>25650</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>25650</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AIRGAS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>009363102</cusip>
			<value>990</value>
			<shrsOrPrnAmt>
				<sshPrnamt>8949</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>8949</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AKAMAI TECHNOLOGIES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>00971T101</cusip>
			<value>1420</value>
			<shrsOrPrnAmt>
				<sshPrnamt>23748</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>23748</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ALCOA INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>013817101</cusip>
			<value>2518</value>
			<shrsOrPrnAmt>
				<sshPrnamt>156479</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>156479</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ALEXION PHARMACEUTICALS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>015351109</cusip>
			<value>4378</value>
			<shrsOrPrnAmt>
				<sshPrnamt>26400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>26400</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ALLEGHENY TECHNOLOGIES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>01741R102</cusip>
			<value>538</value>
			<shrsOrPrnAmt>
				<sshPrnamt>14503</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>14503</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ALLERGAN INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>018490102</cusip>
			<value>7083</value>
			<shrsOrPrnAmt>
				<sshPrnamt>39752</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>39752</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ALLIANCE DATA SYSTEMS CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>018581108</cusip>
			<value>1788</value>
			<shrsOrPrnAmt>
				<sshPrnamt>7200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>7200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ALLSTATE CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>020002101</cusip>
			<value>3558</value>
			<shrsOrPrnAmt>
				<sshPrnamt>57984</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>57984</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ALTERA CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>021441100</cusip>
			<value>1497</value>
			<shrsOrPrnAmt>
				<sshPrnamt>41837</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>41837</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ALTRIA GROUP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>02209S103</cusip>
			<value>12183</value>
			<shrsOrPrnAmt>
				<sshPrnamt>265195</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>265195</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AMAZON.COM INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>023135106</cusip>
			<value>16046</value>
			<shrsOrPrnAmt>
				<sshPrnamt>49765</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>49765</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AMEREN CORPORATION</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>023608102</cusip>
			<value>1244</value>
			<shrsOrPrnAmt>
				<sshPrnamt>32446</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>32446</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AMERICAN ELECTRIC POWER</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>025537101</cusip>
			<value>3401</value>
			<shrsOrPrnAmt>
				<sshPrnamt>65138</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>65138</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AMERICAN EXPRESS CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>025816109</cusip>
			<value>10637</value>
			<shrsOrPrnAmt>
				<sshPrnamt>121513</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>121513</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
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		<infoTable>
			<nameOfIssuer>AMERICAN INTERNATIONAL GROUP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>026874784</cusip>
			<value>10437</value>
			<shrsOrPrnAmt>
				<sshPrnamt>193205</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>193205</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AMERICAN TOWER CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>03027X100</cusip>
			<value>4950</value>
			<shrsOrPrnAmt>
				<sshPrnamt>52868</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>52868</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AMERISOURCEBERGEN CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>03073E105</cusip>
			<value>2330</value>
			<shrsOrPrnAmt>
				<sshPrnamt>30141</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>30141</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AMERIPRISE FINANCIAL INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>03076C106</cusip>
			<value>3125</value>
			<shrsOrPrnAmt>
				<sshPrnamt>25331</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>25331</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AMETEK INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>031100100</cusip>
			<value>1647</value>
			<shrsOrPrnAmt>
				<sshPrnamt>32800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>32800</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AMGEN INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>031162100</cusip>
			<value>14193</value>
			<shrsOrPrnAmt>
				<sshPrnamt>101045</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>101045</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AMPHENOL CORP CL A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>032095101</cusip>
			<value>2094</value>
			<shrsOrPrnAmt>
				<sshPrnamt>20970</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>20970</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ANADARKO PETROLEUM CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>032511107</cusip>
			<value>6836</value>
			<shrsOrPrnAmt>
				<sshPrnamt>67388</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>67388</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ANALOG DEVICES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>032654105</cusip>
			<value>2076</value>
			<shrsOrPrnAmt>
				<sshPrnamt>41942</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>41942</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>APACHE CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>037411105</cusip>
			<value>4834</value>
			<shrsOrPrnAmt>
				<sshPrnamt>51499</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>51499</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>APARTMENT INVT + MGMT CO  A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>03748R101</cusip>
			<value>622</value>
			<shrsOrPrnAmt>
				<sshPrnamt>19535</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>19535</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>APPLE INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>037833100</cusip>
			<value>80677</value>
			<shrsOrPrnAmt>
				<sshPrnamt>800766</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>800766</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>APPLIED MATERIALS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>038222105</cusip>
			<value>3513</value>
			<shrsOrPrnAmt>
				<sshPrnamt>162586</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>162586</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ARCHER DANIELS MIDLAND CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>039483102</cusip>
			<value>4466</value>
			<shrsOrPrnAmt>
				<sshPrnamt>87403</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>87403</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ASSURANT INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>04621X108</cusip>
			<value>618</value>
			<shrsOrPrnAmt>
				<sshPrnamt>9611</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>9611</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AUTODESK INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>052769106</cusip>
			<value>1678</value>
			<shrsOrPrnAmt>
				<sshPrnamt>30457</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>30457</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AUTOMATIC DATA PROCESSING</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>053015103</cusip>
			<value>5346</value>
			<shrsOrPrnAmt>
				<sshPrnamt>64343</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>64343</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AUTONATION INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>05329W102</cusip>
			<value>424</value>
			<shrsOrPrnAmt>
				<sshPrnamt>8419</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>8419</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AUTOZONE INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>053332102</cusip>
			<value>2247</value>
			<shrsOrPrnAmt>
				<sshPrnamt>4409</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>4409</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AVALONBAY COMMUNITIES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>053484101</cusip>
			<value>2288</value>
			<shrsOrPrnAmt>
				<sshPrnamt>16227</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>16227</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AVERY DENNISON CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>053611109</cusip>
			<value>566</value>
			<shrsOrPrnAmt>
				<sshPrnamt>12675</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>12675</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AVON PRODUCTS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>054303102</cusip>
			<value>730</value>
			<shrsOrPrnAmt>
				<sshPrnamt>57971</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>57971</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BB+T CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>054937107</cusip>
			<value>3571</value>
			<shrsOrPrnAmt>
				<sshPrnamt>95966</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>95966</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BAKER HUGHES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>057224107</cusip>
			<value>3786</value>
			<shrsOrPrnAmt>
				<sshPrnamt>58192</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>58192</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BALL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>058498106</cusip>
			<value>1181</value>
			<shrsOrPrnAmt>
				<sshPrnamt>18664</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>18664</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BANK OF AMERICA CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>060505104</cusip>
			<value>23939</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1404054</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>1404054</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BANK OF NEW YORK MELLON CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>064058100</cusip>
			<value>5897</value>
			<shrsOrPrnAmt>
				<sshPrnamt>152260</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>152260</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CR BARD INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>067383109</cusip>
			<value>1452</value>
			<shrsOrPrnAmt>
				<sshPrnamt>10174</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>10174</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BAXTER INTERNATIONAL INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>071813109</cusip>
			<value>5200</value>
			<shrsOrPrnAmt>
				<sshPrnamt>72452</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>72452</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BECTON DICKINSON AND CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>075887109</cusip>
			<value>2933</value>
			<shrsOrPrnAmt>
				<sshPrnamt>25769</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>25769</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BED BATH + BEYOND INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>075896100</cusip>
			<value>1792</value>
			<shrsOrPrnAmt>
				<sshPrnamt>27217</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>27217</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BEMIS COMPANY</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>081437105</cusip>
			<value>513</value>
			<shrsOrPrnAmt>
				<sshPrnamt>13500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>13500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BERKSHIRE HATHAWAY INC CL B</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>084670702</cusip>
			<value>33679</value>
			<shrsOrPrnAmt>
				<sshPrnamt>243807</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>243807</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BEST BUY CO INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>086516101</cusip>
			<value>1237</value>
			<shrsOrPrnAmt>
				<sshPrnamt>36821</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>36821</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BIOGEN IDEC INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>09062X103</cusip>
			<value>10478</value>
			<shrsOrPrnAmt>
				<sshPrnamt>31674</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>31674</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BLACKROCK INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>09247X101</cusip>
			<value>5496</value>
			<shrsOrPrnAmt>
				<sshPrnamt>16739</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>16739</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>H+R BLOCK INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>093671105</cusip>
			<value>1136</value>
			<shrsOrPrnAmt>
				<sshPrnamt>36640</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>36640</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BOEING CO/THE</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>097023105</cusip>
			<value>11413</value>
			<shrsOrPrnAmt>
				<sshPrnamt>89595</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>89595</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BORGWARNER INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>099724106</cusip>
			<value>1605</value>
			<shrsOrPrnAmt>
				<sshPrnamt>30500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>30500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BOSTON PROPERTIES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>101121101</cusip>
			<value>2364</value>
			<shrsOrPrnAmt>
				<sshPrnamt>20423</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>20423</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BOSTON SCIENTIFIC CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>101137107</cusip>
			<value>2085</value>
			<shrsOrPrnAmt>
				<sshPrnamt>176562</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>176562</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BRISTOL MYERS SQUIBB CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>110122108</cusip>
			<value>11326</value>
			<shrsOrPrnAmt>
				<sshPrnamt>221304</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>221304</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BROADCOM CORP CL A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>111320107</cusip>
			<value>2999</value>
			<shrsOrPrnAmt>
				<sshPrnamt>74201</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>74201</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BROWN FORMAN CORP CLASS B</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>115637209</cusip>
			<value>1957</value>
			<shrsOrPrnAmt>
				<sshPrnamt>21690</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>21690</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CBS CORP CLASS B NON VOTING</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>124857202</cusip>
			<value>3482</value>
			<shrsOrPrnAmt>
				<sshPrnamt>65086</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>65086</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CBRE GROUP INC   A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>12504L109</cusip>
			<value>1106</value>
			<shrsOrPrnAmt>
				<sshPrnamt>37199</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>37199</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CF INDUSTRIES HOLDINGS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>125269100</cusip>
			<value>1939</value>
			<shrsOrPrnAmt>
				<sshPrnamt>6946</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>6946</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>C.H. ROBINSON WORLDWIDE INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>12541W209</cusip>
			<value>1315</value>
			<shrsOrPrnAmt>
				<sshPrnamt>19829</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>19829</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CIGNA CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>125509109</cusip>
			<value>3256</value>
			<shrsOrPrnAmt>
				<sshPrnamt>35903</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>35903</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CME GROUP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>12572Q105</cusip>
			<value>3369</value>
			<shrsOrPrnAmt>
				<sshPrnamt>42135</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>42135</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CMS ENERGY CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>125896100</cusip>
			<value>1068</value>
			<shrsOrPrnAmt>
				<sshPrnamt>36010</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>36010</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CSX CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>126408103</cusip>
			<value>4301</value>
			<shrsOrPrnAmt>
				<sshPrnamt>134156</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>134156</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CVS HEALTH CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>126650100</cusip>
			<value>12423</value>
			<shrsOrPrnAmt>
				<sshPrnamt>156087</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>156087</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CA INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>12673P105</cusip>
			<value>1191</value>
			<shrsOrPrnAmt>
				<sshPrnamt>42627</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>42627</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CABLEVISION SYSTEMS NY GRP A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>12686C109</cusip>
			<value>506</value>
			<shrsOrPrnAmt>
				<sshPrnamt>28909</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>28909</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CABOT OIL + GAS CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>127097103</cusip>
			<value>1821</value>
			<shrsOrPrnAmt>
				<sshPrnamt>55692</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>55692</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CAMERON INTERNATIONAL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>13342B105</cusip>
			<value>1807</value>
			<shrsOrPrnAmt>
				<sshPrnamt>27219</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>27219</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CAMPBELL SOUP CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>134429109</cusip>
			<value>1022</value>
			<shrsOrPrnAmt>
				<sshPrnamt>23912</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>23912</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CAPITAL ONE FINANCIAL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>14040H105</cusip>
			<value>6229</value>
			<shrsOrPrnAmt>
				<sshPrnamt>76317</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>76317</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CARDINAL HEALTH INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>14149Y108</cusip>
			<value>3405</value>
			<shrsOrPrnAmt>
				<sshPrnamt>45454</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>45454</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CAREFUSION CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>14170T101</cusip>
			<value>1251</value>
			<shrsOrPrnAmt>
				<sshPrnamt>27652</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>27652</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CARMAX INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>143130102</cusip>
			<value>1367</value>
			<shrsOrPrnAmt>
				<sshPrnamt>29430</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>29430</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CARNIVAL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>143658300</cusip>
			<value>2353</value>
			<shrsOrPrnAmt>
				<sshPrnamt>58567</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>58567</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CATERPILLAR INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>149123101</cusip>
			<value>8249</value>
			<shrsOrPrnAmt>
				<sshPrnamt>83302</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>83302</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CELGENE CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>151020104</cusip>
			<value>10135</value>
			<shrsOrPrnAmt>
				<sshPrnamt>106930</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>106930</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CENTERPOINT ENERGY INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>15189T107</cusip>
			<value>1405</value>
			<shrsOrPrnAmt>
				<sshPrnamt>57397</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>57397</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CENTURYLINK INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>156700106</cusip>
			<value>3129</value>
			<shrsOrPrnAmt>
				<sshPrnamt>76520</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>76520</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CERNER CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>156782104</cusip>
			<value>2352</value>
			<shrsOrPrnAmt>
				<sshPrnamt>39476</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>39476</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CHESAPEAKE ENERGY CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>165167107</cusip>
			<value>1555</value>
			<shrsOrPrnAmt>
				<sshPrnamt>67645</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>67645</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CHEVRONTEXACO CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>166764100</cusip>
			<value>30326</value>
			<shrsOrPrnAmt>
				<sshPrnamt>254156</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>254156</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
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		<infoTable>
			<nameOfIssuer>CHIPOTLE MEXICAN GRILL INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>169656105</cusip>
			<value>2792</value>
			<shrsOrPrnAmt>
				<sshPrnamt>4188</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>4188</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CHUBB CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>171232101</cusip>
			<value>2977</value>
			<shrsOrPrnAmt>
				<sshPrnamt>32688</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>32688</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CIMAREX ENERGY CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>171798101</cusip>
			<value>1468</value>
			<shrsOrPrnAmt>
				<sshPrnamt>11600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>11600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CINCINNATI FINANCIAL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>172062101</cusip>
			<value>924</value>
			<shrsOrPrnAmt>
				<sshPrnamt>19637</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>19637</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CISCO SYSTEMS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>17275R102</cusip>
			<value>17217</value>
			<shrsOrPrnAmt>
				<sshPrnamt>684024</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>684024</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CINTAS CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>172908105</cusip>
			<value>948</value>
			<shrsOrPrnAmt>
				<sshPrnamt>13434</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>13434</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CITIGROUP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>172967424</cusip>
			<value>21020</value>
			<shrsOrPrnAmt>
				<sshPrnamt>405626</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>405626</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CITRIX SYSTEMS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>177376100</cusip>
			<value>1562</value>
			<shrsOrPrnAmt>
				<sshPrnamt>21895</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>21895</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CLOROX COMPANY</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>189054109</cusip>
			<value>1649</value>
			<shrsOrPrnAmt>
				<sshPrnamt>17175</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>17175</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>COACH INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>189754104</cusip>
			<value>1303</value>
			<shrsOrPrnAmt>
				<sshPrnamt>36598</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>36598</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>COCA COLA CO/THE</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>191216100</cusip>
			<value>22519</value>
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				<sshPrnamt>527870</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>527870</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>COCA COLA ENTERPRISES</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>19122T109</cusip>
			<value>1386</value>
			<shrsOrPrnAmt>
				<sshPrnamt>31234</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>31234</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>COGNIZANT TECH SOLUTIONS A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>192446102</cusip>
			<value>3639</value>
			<shrsOrPrnAmt>
				<sshPrnamt>81278</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>81278</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>COLGATE PALMOLIVE CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>194162103</cusip>
			<value>7574</value>
			<shrsOrPrnAmt>
				<sshPrnamt>116130</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>116130</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>COMCAST CORP CLASS A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>20030N101</cusip>
			<value>18669</value>
			<shrsOrPrnAmt>
				<sshPrnamt>347133</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>347133</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>COMERICA INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>200340107</cusip>
			<value>1207</value>
			<shrsOrPrnAmt>
				<sshPrnamt>24214</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>24214</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>COMPUTER SCIENCES CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>205363104</cusip>
			<value>1186</value>
			<shrsOrPrnAmt>
				<sshPrnamt>19387</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>19387</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CONAGRA FOODS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>205887102</cusip>
			<value>1858</value>
			<shrsOrPrnAmt>
				<sshPrnamt>56247</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>56247</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CONOCOPHILLIPS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>20825C104</cusip>
			<value>12546</value>
			<shrsOrPrnAmt>
				<sshPrnamt>163956</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>163956</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CONSOL ENERGY INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>20854P109</cusip>
			<value>1163</value>
			<shrsOrPrnAmt>
				<sshPrnamt>30718</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>30718</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CONSOLIDATED EDISON INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>209115104</cusip>
			<value>2218</value>
			<shrsOrPrnAmt>
				<sshPrnamt>39152</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>39152</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CONSTELLATION BRANDS INC A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>21036P108</cusip>
			<value>1967</value>
			<shrsOrPrnAmt>
				<sshPrnamt>22571</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>22571</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CORNING INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>219350105</cusip>
			<value>3380</value>
			<shrsOrPrnAmt>
				<sshPrnamt>174756</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>174756</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>COSTCO WHOLESALE CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>22160K105</cusip>
			<value>7339</value>
			<shrsOrPrnAmt>
				<sshPrnamt>58565</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>58565</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CROWN CASTLE INTL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>228227104</cusip>
			<value>3592</value>
			<shrsOrPrnAmt>
				<sshPrnamt>44600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>44600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CUMMINS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>231021106</cusip>
			<value>3010</value>
			<shrsOrPrnAmt>
				<sshPrnamt>22804</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>22804</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DR HORTON INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>23331A109</cusip>
			<value>879</value>
			<shrsOrPrnAmt>
				<sshPrnamt>42832</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>42832</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DTE ENERGY COMPANY</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>233331107</cusip>
			<value>1799</value>
			<shrsOrPrnAmt>
				<sshPrnamt>23646</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>23646</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DANAHER CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>235851102</cusip>
			<value>6106</value>
			<shrsOrPrnAmt>
				<sshPrnamt>80359</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>80359</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DARDEN RESTAURANTS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>237194105</cusip>
			<value>907</value>
			<shrsOrPrnAmt>
				<sshPrnamt>17626</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>17626</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DAVITA HEALTHCARE PARTNERS I</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>23918K108</cusip>
			<value>1740</value>
			<shrsOrPrnAmt>
				<sshPrnamt>23786</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>23786</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DEERE + CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>244199105</cusip>
			<value>3981</value>
			<shrsOrPrnAmt>
				<sshPrnamt>48552</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>48552</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DELTA AIR LINES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>247361702</cusip>
			<value>4092</value>
			<shrsOrPrnAmt>
				<sshPrnamt>113200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>113200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DENBURY RESOURCES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>247916208</cusip>
			<value>705</value>
			<shrsOrPrnAmt>
				<sshPrnamt>46924</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>46924</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DENTSPLY INTERNATIONAL INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>249030107</cusip>
			<value>864</value>
			<shrsOrPrnAmt>
				<sshPrnamt>18949</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>18949</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DEVON ENERGY CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>25179M103</cusip>
			<value>3493</value>
			<shrsOrPrnAmt>
				<sshPrnamt>51235</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>51235</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DIAMOND OFFSHORE DRILLING</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>25271C102</cusip>
			<value>315</value>
			<shrsOrPrnAmt>
				<sshPrnamt>9183</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>9183</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WALT DISNEY CO/THE</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>254687106</cusip>
			<value>18805</value>
			<shrsOrPrnAmt>
				<sshPrnamt>211220</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>211220</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DISCOVER FINANCIAL SERVICES</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>254709108</cusip>
			<value>4009</value>
			<shrsOrPrnAmt>
				<sshPrnamt>62261</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>62261</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DISCOVERY COMMUNICATIONS A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>25470F104</cusip>
			<value>748</value>
			<shrsOrPrnAmt>
				<sshPrnamt>19800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>19800</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DISCOVERY COMMUNICATIONS C</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>25470F302</cusip>
			<value>1085</value>
			<shrsOrPrnAmt>
				<sshPrnamt>29100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>29100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DIRECTV</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>25490A309</cusip>
			<value>5811</value>
			<shrsOrPrnAmt>
				<sshPrnamt>67169</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>67169</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DOLLAR GENERAL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>256677105</cusip>
			<value>2475</value>
			<shrsOrPrnAmt>
				<sshPrnamt>40500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>40500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DOLLAR TREE INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>256746108</cusip>
			<value>1548</value>
			<shrsOrPrnAmt>
				<sshPrnamt>27600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>27600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DOMINION RESOURCES INC/VA</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>25746U109</cusip>
			<value>5366</value>
			<shrsOrPrnAmt>
				<sshPrnamt>77672</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>77672</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DOVER CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>260003108</cusip>
			<value>1786</value>
			<shrsOrPrnAmt>
				<sshPrnamt>22233</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>22233</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DOW CHEMICAL CO/THE</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>260543103</cusip>
			<value>7872</value>
			<shrsOrPrnAmt>
				<sshPrnamt>150116</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>150116</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DR PEPPER SNAPPLE GROUP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>26138E109</cusip>
			<value>1687</value>
			<shrsOrPrnAmt>
				<sshPrnamt>26231</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>26231</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DU PONT (E.I.) DE NEMOURS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>263534109</cusip>
			<value>8796</value>
			<shrsOrPrnAmt>
				<sshPrnamt>122581</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>122581</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DUKE ENERGY CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>26441C204</cusip>
			<value>7059</value>
			<shrsOrPrnAmt>
				<sshPrnamt>94410</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>94410</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DUN + BRADSTREET CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>26483E100</cusip>
			<value>576</value>
			<shrsOrPrnAmt>
				<sshPrnamt>4903</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>4903</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EMC CORP/MA</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>268648102</cusip>
			<value>8000</value>
			<shrsOrPrnAmt>
				<sshPrnamt>273398</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>273398</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EOG RESOURCES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>26875P101</cusip>
			<value>7229</value>
			<shrsOrPrnAmt>
				<sshPrnamt>73008</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>73008</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EQT CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>26884L109</cusip>
			<value>1852</value>
			<shrsOrPrnAmt>
				<sshPrnamt>20227</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>20227</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>E TRADE FINANCIAL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>269246401</cusip>
			<value>870</value>
			<shrsOrPrnAmt>
				<sshPrnamt>38504</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>38504</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EASTMAN CHEMICAL CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>277432100</cusip>
			<value>1621</value>
			<shrsOrPrnAmt>
				<sshPrnamt>20036</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>20036</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EBAY INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>278642103</cusip>
			<value>8627</value>
			<shrsOrPrnAmt>
				<sshPrnamt>152348</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>152348</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ECOLAB INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>278865100</cusip>
			<value>4143</value>
			<shrsOrPrnAmt>
				<sshPrnamt>36080</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>36080</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EDISON INTERNATIONAL</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>281020107</cusip>
			<value>2433</value>
			<shrsOrPrnAmt>
				<sshPrnamt>43502</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>43502</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EDWARDS LIFESCIENCES CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>28176E108</cusip>
			<value>1438</value>
			<shrsOrPrnAmt>
				<sshPrnamt>14080</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>14080</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ELECTRONIC ARTS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>285512109</cusip>
			<value>1494</value>
			<shrsOrPrnAmt>
				<sshPrnamt>41963</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>41963</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EMERSON ELECTRIC CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>291011104</cusip>
			<value>5864</value>
			<shrsOrPrnAmt>
				<sshPrnamt>93700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>93700</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ENTERGY CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>29364G103</cusip>
			<value>1856</value>
			<shrsOrPrnAmt>
				<sshPrnamt>23999</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>23999</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EQUIFAX INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>294429105</cusip>
			<value>1215</value>
			<shrsOrPrnAmt>
				<sshPrnamt>16255</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>16255</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EQUITY RESIDENTIAL</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>29476L107</cusip>
			<value>2764</value>
			<shrsOrPrnAmt>
				<sshPrnamt>44888</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>44888</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ESSEX PROPERTY TRUST INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>297178105</cusip>
			<value>1484</value>
			<shrsOrPrnAmt>
				<sshPrnamt>8300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>8300</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EXELON CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>30161N101</cusip>
			<value>3909</value>
			<shrsOrPrnAmt>
				<sshPrnamt>114659</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>114659</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EXPEDIA INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>30212P303</cusip>
			<value>1203</value>
			<shrsOrPrnAmt>
				<sshPrnamt>13728</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>13728</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EXPEDITORS INTL WASH INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>302130109</cusip>
			<value>1071</value>
			<shrsOrPrnAmt>
				<sshPrnamt>26400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>26400</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EXPRESS SCRIPTS HOLDING CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>30219G108</cusip>
			<value>7038</value>
			<shrsOrPrnAmt>
				<sshPrnamt>99640</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>99640</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EXXON MOBIL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>30231G102</cusip>
			<value>53635</value>
			<shrsOrPrnAmt>
				<sshPrnamt>570280</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>570280</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FLIR SYSTEMS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>302445101</cusip>
			<value>591</value>
			<shrsOrPrnAmt>
				<sshPrnamt>18867</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>18867</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FMC CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>302491303</cusip>
			<value>1014</value>
			<shrsOrPrnAmt>
				<sshPrnamt>17732</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>17732</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FMC TECHNOLOGIES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>30249U101</cusip>
			<value>1707</value>
			<shrsOrPrnAmt>
				<sshPrnamt>31423</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>31423</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FACEBOOK INC A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>30303M102</cusip>
			<value>20614</value>
			<shrsOrPrnAmt>
				<sshPrnamt>260800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>260800</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FAMILY DOLLAR STORES</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>307000109</cusip>
			<value>982</value>
			<shrsOrPrnAmt>
				<sshPrnamt>12720</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>12720</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FASTENAL CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>311900104</cusip>
			<value>1636</value>
			<shrsOrPrnAmt>
				<sshPrnamt>36438</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>36438</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FEDEX CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>31428X106</cusip>
			<value>5737</value>
			<shrsOrPrnAmt>
				<sshPrnamt>35536</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>35536</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>F5 NETWORKS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>315616102</cusip>
			<value>1204</value>
			<shrsOrPrnAmt>
				<sshPrnamt>10136</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>10136</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FIDELITY NATIONAL INFORMATIO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>31620M106</cusip>
			<value>2166</value>
			<shrsOrPrnAmt>
				<sshPrnamt>38464</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>38464</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FIFTH THIRD BANCORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>316773100</cusip>
			<value>2273</value>
			<shrsOrPrnAmt>
				<sshPrnamt>113530</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>113530</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FIRST SOLAR INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>336433107</cusip>
			<value>624</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>FISERV INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>337738108</cusip>
			<value>2150</value>
			<shrsOrPrnAmt>
				<sshPrnamt>33258</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>33258</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FIRSTENERGY CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>337932107</cusip>
			<value>1881</value>
			<shrsOrPrnAmt>
				<sshPrnamt>56040</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>56040</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FLUOR CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>343412102</cusip>
			<value>1417</value>
			<shrsOrPrnAmt>
				<sshPrnamt>21221</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>21221</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FLOWSERVE CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>34354P105</cusip>
			<value>1291</value>
			<shrsOrPrnAmt>
				<sshPrnamt>18300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>18300</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FORD MOTOR CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>345370860</cusip>
			<value>7670</value>
			<shrsOrPrnAmt>
				<sshPrnamt>518605</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>518605</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FOSSIL GROUP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>34988V106</cusip>
			<value>601</value>
			<shrsOrPrnAmt>
				<sshPrnamt>6400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>6400</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FRANKLIN RESOURCES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>354613101</cusip>
			<value>2931</value>
			<shrsOrPrnAmt>
				<sshPrnamt>53673</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>53673</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FREEPORT MCMORAN INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>35671D857</cusip>
			<value>4530</value>
			<shrsOrPrnAmt>
				<sshPrnamt>138730</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>138730</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FRONTIER COMMUNICATIONS CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>35906A108</cusip>
			<value>871</value>
			<shrsOrPrnAmt>
				<sshPrnamt>133821</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>133821</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GAMESTOP CORP CLASS A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>36467W109</cusip>
			<value>632</value>
			<shrsOrPrnAmt>
				<sshPrnamt>15344</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>15344</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GANNETT CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>364730101</cusip>
			<value>899</value>
			<shrsOrPrnAmt>
				<sshPrnamt>30296</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>30296</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GAP INC/THE</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>364760108</cusip>
			<value>1446</value>
			<shrsOrPrnAmt>
				<sshPrnamt>34679</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>34679</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GENERAL DYNAMICS CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>369550108</cusip>
			<value>5530</value>
			<shrsOrPrnAmt>
				<sshPrnamt>43514</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>43514</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GENERAL ELECTRIC CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>369604103</cusip>
			<value>34303</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1338907</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>1338907</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GENERAL GROWTH PROPERTIES</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>370023103</cusip>
			<value>1639</value>
			<shrsOrPrnAmt>
				<sshPrnamt>69600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>69600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GENERAL MILLS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>370334104</cusip>
			<value>4138</value>
			<shrsOrPrnAmt>
				<sshPrnamt>82012</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>82012</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GENERAL MOTORS CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>37045V100</cusip>
			<value>5609</value>
			<shrsOrPrnAmt>
				<sshPrnamt>175600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>175600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GENUINE PARTS CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>372460105</cusip>
			<value>1800</value>
			<shrsOrPrnAmt>
				<sshPrnamt>20521</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>20521</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GENWORTH FINANCIAL INC CL A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>37247D106</cusip>
			<value>868</value>
			<shrsOrPrnAmt>
				<sshPrnamt>66255</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>66255</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GILEAD SCIENCES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>375558103</cusip>
			<value>21522</value>
			<shrsOrPrnAmt>
				<sshPrnamt>202176</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>202176</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GOLDMAN SACHS GROUP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>38141G104</cusip>
			<value>10067</value>
			<shrsOrPrnAmt>
				<sshPrnamt>54839</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>54839</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GOODYEAR TIRE + RUBBER CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>382550101</cusip>
			<value>832</value>
			<shrsOrPrnAmt>
				<sshPrnamt>36830</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>36830</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GOOGLE INC CL A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>38259P508</cusip>
			<value>22231</value>
			<shrsOrPrnAmt>
				<sshPrnamt>37781</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>37781</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GOOGLE INC CL C</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>38259P706</cusip>
			<value>21813</value>
			<shrsOrPrnAmt>
				<sshPrnamt>37781</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>37781</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WW GRAINGER INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>384802104</cusip>
			<value>2038</value>
			<shrsOrPrnAmt>
				<sshPrnamt>8100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>8100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HCP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>40414L109</cusip>
			<value>2429</value>
			<shrsOrPrnAmt>
				<sshPrnamt>61177</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>61177</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HALLIBURTON CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>406216101</cusip>
			<value>7275</value>
			<shrsOrPrnAmt>
				<sshPrnamt>112771</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>112771</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HARLEY DAVIDSON INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>412822108</cusip>
			<value>1695</value>
			<shrsOrPrnAmt>
				<sshPrnamt>29129</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>29129</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HARMAN INTERNATIONAL</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>413086109</cusip>
			<value>891</value>
			<shrsOrPrnAmt>
				<sshPrnamt>9086</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>9086</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HARRIS CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>413875105</cusip>
			<value>947</value>
			<shrsOrPrnAmt>
				<sshPrnamt>14256</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>14256</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HARTFORD FINANCIAL SVCS GRP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>416515104</cusip>
			<value>2238</value>
			<shrsOrPrnAmt>
				<sshPrnamt>60091</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>60091</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HASBRO INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>418056107</cusip>
			<value>850</value>
			<shrsOrPrnAmt>
				<sshPrnamt>15459</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>15459</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HEALTH CARE REIT INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>42217K106</cusip>
			<value>2545</value>
			<shrsOrPrnAmt>
				<sshPrnamt>40798</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>40798</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HELMERICH + PAYNE</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>423452101</cusip>
			<value>1411</value>
			<shrsOrPrnAmt>
				<sshPrnamt>14412</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>14412</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HERSHEY CO/THE</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>427866108</cusip>
			<value>1897</value>
			<shrsOrPrnAmt>
				<sshPrnamt>19878</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>19878</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HESS CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>42809H107</cusip>
			<value>3320</value>
			<shrsOrPrnAmt>
				<sshPrnamt>35203</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>35203</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HEWLETT PACKARD CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>428236103</cusip>
			<value>8862</value>
			<shrsOrPrnAmt>
				<sshPrnamt>249858</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>249858</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HOME DEPOT INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>437076102</cusip>
			<value>16508</value>
			<shrsOrPrnAmt>
				<sshPrnamt>179942</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>179942</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HONEYWELL INTERNATIONAL INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>438516106</cusip>
			<value>9734</value>
			<shrsOrPrnAmt>
				<sshPrnamt>104536</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>104536</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HORMEL FOODS CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>440452100</cusip>
			<value>925</value>
			<shrsOrPrnAmt>
				<sshPrnamt>17998</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>17998</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HOSPIRA INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>441060100</cusip>
			<value>1161</value>
			<shrsOrPrnAmt>
				<sshPrnamt>22312</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>22312</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HOST HOTELS + RESORTS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>44107P104</cusip>
			<value>2156</value>
			<shrsOrPrnAmt>
				<sshPrnamt>101083</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>101083</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HUDSON CITY BANCORP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>443683107</cusip>
			<value>618</value>
			<shrsOrPrnAmt>
				<sshPrnamt>63584</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>63584</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HUMANA INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>444859102</cusip>
			<value>2695</value>
			<shrsOrPrnAmt>
				<sshPrnamt>20682</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>20682</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HUNTINGTON BANCSHARES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>446150104</cusip>
			<value>1076</value>
			<shrsOrPrnAmt>
				<sshPrnamt>110576</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>110576</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ILLINOIS TOOL WORKS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>452308109</cusip>
			<value>4115</value>
			<shrsOrPrnAmt>
				<sshPrnamt>48750</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>48750</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>INTEL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>458140100</cusip>
			<value>23144</value>
			<shrsOrPrnAmt>
				<sshPrnamt>664670</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>664670</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>INTEGRYS ENERGY GROUP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>45822P105</cusip>
			<value>695</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>INTERCONTINENTAL EXCHANGE IN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>45866F104</cusip>
			<value>3001</value>
			<shrsOrPrnAmt>
				<sshPrnamt>15384</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>15384</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>INTL BUSINESS MACHINES CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>459200101</cusip>
			<value>23548</value>
			<shrsOrPrnAmt>
				<sshPrnamt>124047</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>124047</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>INTL FLAVORS + FRAGRANCES</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>459506101</cusip>
			<value>1038</value>
			<shrsOrPrnAmt>
				<sshPrnamt>10827</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>10827</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>INTERNATIONAL PAPER CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>460146103</cusip>
			<value>2762</value>
			<shrsOrPrnAmt>
				<sshPrnamt>57852</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>57852</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>INTERPUBLIC GROUP OF COS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>460690100</cusip>
			<value>1037</value>
			<shrsOrPrnAmt>
				<sshPrnamt>56616</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>56616</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>INTUIT INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>461202103</cusip>
			<value>3324</value>
			<shrsOrPrnAmt>
				<sshPrnamt>37928</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>37928</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>INTUITIVE SURGICAL INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>46120E602</cusip>
			<value>2211</value>
			<shrsOrPrnAmt>
				<sshPrnamt>4788</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>4788</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>IRON MOUNTAIN INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>462846106</cusip>
			<value>744</value>
			<shrsOrPrnAmt>
				<sshPrnamt>22792</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>22792</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>JPMORGAN CHASE + CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>46625H100</cusip>
			<value>30298</value>
			<shrsOrPrnAmt>
				<sshPrnamt>502950</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>502950</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>JABIL CIRCUIT INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>466313103</cusip>
			<value>498</value>
			<shrsOrPrnAmt>
				<sshPrnamt>24703</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>24703</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>JACOBS ENGINEERING GROUP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>469814107</cusip>
			<value>861</value>
			<shrsOrPrnAmt>
				<sshPrnamt>17637</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>17637</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>JOHNSON + JOHNSON</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>478160104</cusip>
			<value>40264</value>
			<shrsOrPrnAmt>
				<sshPrnamt>377743</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>377743</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>JOHNSON CONTROLS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>478366107</cusip>
			<value>3901</value>
			<shrsOrPrnAmt>
				<sshPrnamt>88659</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>88659</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>JOY GLOBAL INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>481165108</cusip>
			<value>727</value>
			<shrsOrPrnAmt>
				<sshPrnamt>13327</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>13327</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>JUNIPER NETWORKS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>48203R104</cusip>
			<value>1190</value>
			<shrsOrPrnAmt>
				<sshPrnamt>53730</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>53730</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KLA TENCOR CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>482480100</cusip>
			<value>1747</value>
			<shrsOrPrnAmt>
				<sshPrnamt>22180</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>22180</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KANSAS CITY SOUTHERN</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>485170302</cusip>
			<value>1782</value>
			<shrsOrPrnAmt>
				<sshPrnamt>14700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>14700</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KELLOGG CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>487836108</cusip>
			<value>2094</value>
			<shrsOrPrnAmt>
				<sshPrnamt>33990</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>33990</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KEURIG GREEN MOUNTAIN INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>49271M100</cusip>
			<value>2199</value>
			<shrsOrPrnAmt>
				<sshPrnamt>16900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>16900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KEYCORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>493267108</cusip>
			<value>1573</value>
			<shrsOrPrnAmt>
				<sshPrnamt>117987</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>117987</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KIMBERLY CLARK CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>494368103</cusip>
			<value>5410</value>
			<shrsOrPrnAmt>
				<sshPrnamt>50293</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>50293</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KIMCO REALTY CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>49446R109</cusip>
			<value>1201</value>
			<shrsOrPrnAmt>
				<sshPrnamt>54818</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>54818</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KINDER MORGAN INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>49456B101</cusip>
			<value>3421</value>
			<shrsOrPrnAmt>
				<sshPrnamt>89230</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>89230</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KOHLS CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>500255104</cusip>
			<value>1590</value>
			<shrsOrPrnAmt>
				<sshPrnamt>26051</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>26051</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KRAFT FOODS GROUP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>50076Q106</cusip>
			<value>4485</value>
			<shrsOrPrnAmt>
				<sshPrnamt>79525</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>79525</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KROGER CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>501044101</cusip>
			<value>3401</value>
			<shrsOrPrnAmt>
				<sshPrnamt>65405</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>65405</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>L BRANDS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>501797104</cusip>
			<value>2194</value>
			<shrsOrPrnAmt>
				<sshPrnamt>32756</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>32756</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>L 3 COMMUNICATIONS HOLDINGS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>502424104</cusip>
			<value>1370</value>
			<shrsOrPrnAmt>
				<sshPrnamt>11519</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>11519</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LABORATORY CRP OF AMER HLDGS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>50540R409</cusip>
			<value>1148</value>
			<shrsOrPrnAmt>
				<sshPrnamt>11279</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>11279</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LAM RESEARCH CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>512807108</cusip>
			<value>1620</value>
			<shrsOrPrnAmt>
				<sshPrnamt>21693</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>21693</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ESTEE LAUDER COMPANIES CL A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>518439104</cusip>
			<value>2247</value>
			<shrsOrPrnAmt>
				<sshPrnamt>30074</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>30074</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LEGGETT + PLATT INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>524660107</cusip>
			<value>646</value>
			<shrsOrPrnAmt>
				<sshPrnamt>18501</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>18501</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LEGG MASON INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>524901105</cusip>
			<value>702</value>
			<shrsOrPrnAmt>
				<sshPrnamt>13714</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>13714</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LENNAR CORP A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>526057104</cusip>
			<value>913</value>
			<shrsOrPrnAmt>
				<sshPrnamt>23510</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>23510</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LEUCADIA NATIONAL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>527288104</cusip>
			<value>1008</value>
			<shrsOrPrnAmt>
				<sshPrnamt>42289</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>42289</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ELI LILLY + CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>532457108</cusip>
			<value>8527</value>
			<shrsOrPrnAmt>
				<sshPrnamt>131494</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>131494</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LINCOLN NATIONAL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>534187109</cusip>
			<value>1887</value>
			<shrsOrPrnAmt>
				<sshPrnamt>35213</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>35213</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LINEAR TECHNOLOGY CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>535678106</cusip>
			<value>1403</value>
			<shrsOrPrnAmt>
				<sshPrnamt>31603</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>31603</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LOCKHEED MARTIN CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>539830109</cusip>
			<value>6515</value>
			<shrsOrPrnAmt>
				<sshPrnamt>35643</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>35643</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LOEWS CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>540424108</cusip>
			<value>1697</value>
			<shrsOrPrnAmt>
				<sshPrnamt>40745</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>40745</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LORILLARD INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>544147101</cusip>
			<value>2902</value>
			<shrsOrPrnAmt>
				<sshPrnamt>48444</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>48444</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LOWE S COS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>548661107</cusip>
			<value>7048</value>
			<shrsOrPrnAmt>
				<sshPrnamt>133177</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>133177</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>M + T BANK CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>55261F104</cusip>
			<value>2167</value>
			<shrsOrPrnAmt>
				<sshPrnamt>17575</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>17575</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MACERICH CO/THE</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>554382101</cusip>
			<value>1200</value>
			<shrsOrPrnAmt>
				<sshPrnamt>18800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>18800</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>MACY S INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>55616P104</cusip>
			<value>2798</value>
			<shrsOrPrnAmt>
				<sshPrnamt>48094</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>48094</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
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		<infoTable>
			<nameOfIssuer>MARATHON OIL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>565849106</cusip>
			<value>3393</value>
			<shrsOrPrnAmt>
				<sshPrnamt>90271</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>90271</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MARATHON PETROLEUM CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>56585A102</cusip>
			<value>3263</value>
			<shrsOrPrnAmt>
				<sshPrnamt>38535</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>38535</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
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		<infoTable>
			<nameOfIssuer>MARSH + MCLENNAN COS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>571748102</cusip>
			<value>3839</value>
			<shrsOrPrnAmt>
				<sshPrnamt>73341</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>73341</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
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		<infoTable>
			<nameOfIssuer>MARRIOTT INTERNATIONAL  CL A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>571903202</cusip>
			<value>2051</value>
			<shrsOrPrnAmt>
				<sshPrnamt>29338</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>29338</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
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		<infoTable>
			<nameOfIssuer>MARTIN MARIETTA MATERIALS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>573284106</cusip>
			<value>1044</value>
			<shrsOrPrnAmt>
				<sshPrnamt>8100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>8100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
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		<infoTable>
			<nameOfIssuer>MASCO CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>574599106</cusip>
			<value>1138</value>
			<shrsOrPrnAmt>
				<sshPrnamt>47571</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>47571</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
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		<infoTable>
			<nameOfIssuer>MASTERCARD INC CLASS A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>57636Q104</cusip>
			<value>9729</value>
			<shrsOrPrnAmt>
				<sshPrnamt>131610</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>131610</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
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		<infoTable>
			<nameOfIssuer>MATTEL INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>577081102</cusip>
			<value>1390</value>
			<shrsOrPrnAmt>
				<sshPrnamt>45348</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>45348</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
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		<infoTable>
			<nameOfIssuer>MCCORMICK + CO NON VTG SHRS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>579780206</cusip>
			<value>1168</value>
			<shrsOrPrnAmt>
				<sshPrnamt>17466</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>17466</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
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		<infoTable>
			<nameOfIssuer>MCDONALD S CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>580135101</cusip>
			<value>12512</value>
			<shrsOrPrnAmt>
				<sshPrnamt>131969</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>131969</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
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		<infoTable>
			<nameOfIssuer>MCGRAW HILL FINANCIAL INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>580645109</cusip>
			<value>3068</value>
			<shrsOrPrnAmt>
				<sshPrnamt>36326</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>36326</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MCKESSON CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>58155Q103</cusip>
			<value>5994</value>
			<shrsOrPrnAmt>
				<sshPrnamt>30791</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>30791</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MEAD JOHNSON NUTRITION CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>582839106</cusip>
			<value>2596</value>
			<shrsOrPrnAmt>
				<sshPrnamt>26977</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>26977</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MEADWESTVACO CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>583334107</cusip>
			<value>919</value>
			<shrsOrPrnAmt>
				<sshPrnamt>22438</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>22438</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MEDTRONIC INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>585055106</cusip>
			<value>8117</value>
			<shrsOrPrnAmt>
				<sshPrnamt>131033</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>131033</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MERCK + CO. INC.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>58933Y105</cusip>
			<value>22866</value>
			<shrsOrPrnAmt>
				<sshPrnamt>385736</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>385736</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>METLIFE INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>59156R108</cusip>
			<value>8073</value>
			<shrsOrPrnAmt>
				<sshPrnamt>150287</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>150287</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MICROSOFT CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>594918104</cusip>
			<value>51082</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1101847</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>1101847</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MICROCHIP TECHNOLOGY INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>595017104</cusip>
			<value>1261</value>
			<shrsOrPrnAmt>
				<sshPrnamt>26700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>26700</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MICRON TECHNOLOGY INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>595112103</cusip>
			<value>4897</value>
			<shrsOrPrnAmt>
				<sshPrnamt>142925</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>142925</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MOHAWK INDUSTRIES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>608190104</cusip>
			<value>1106</value>
			<shrsOrPrnAmt>
				<sshPrnamt>8200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>8200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MOLSON COORS BREWING CO  B</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>60871R209</cusip>
			<value>1577</value>
			<shrsOrPrnAmt>
				<sshPrnamt>21182</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>21182</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MONDELEZ INTERNATIONAL INC A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>609207105</cusip>
			<value>7740</value>
			<shrsOrPrnAmt>
				<sshPrnamt>225876</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>225876</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MONSANTO CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>61166W101</cusip>
			<value>7872</value>
			<shrsOrPrnAmt>
				<sshPrnamt>69966</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>69966</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MONSTER BEVERAGE CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>611740101</cusip>
			<value>1659</value>
			<shrsOrPrnAmt>
				<sshPrnamt>18100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>18100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MOODY S CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>615369105</cusip>
			<value>2376</value>
			<shrsOrPrnAmt>
				<sshPrnamt>25142</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>25142</Sole>
				<Shared>0</Shared>
				<None>0</None>
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		<infoTable>
			<nameOfIssuer>MORGAN STANLEY</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>617446448</cusip>
			<value>7080</value>
			<shrsOrPrnAmt>
				<sshPrnamt>204795</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>204795</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MOSAIC CO/THE</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>61945C103</cusip>
			<value>1919</value>
			<shrsOrPrnAmt>
				<sshPrnamt>43200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>43200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MOTOROLA SOLUTIONS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>620076307</cusip>
			<value>1913</value>
			<shrsOrPrnAmt>
				<sshPrnamt>30234</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>30234</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MURPHY OIL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>626717102</cusip>
			<value>1282</value>
			<shrsOrPrnAmt>
				<sshPrnamt>22535</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>22535</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MYLAN INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>628530107</cusip>
			<value>2272</value>
			<shrsOrPrnAmt>
				<sshPrnamt>49949</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>49949</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NRG ENERGY INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>629377508</cusip>
			<value>1373</value>
			<shrsOrPrnAmt>
				<sshPrnamt>45062</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>45062</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NASDAQ OMX GROUP/THE</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>631103108</cusip>
			<value>667</value>
			<shrsOrPrnAmt>
				<sshPrnamt>15728</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>15728</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NATIONAL OILWELL VARCO INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>637071101</cusip>
			<value>4357</value>
			<shrsOrPrnAmt>
				<sshPrnamt>57259</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>57259</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NAVIENT CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>63938C108</cusip>
			<value>999</value>
			<shrsOrPrnAmt>
				<sshPrnamt>56416</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>56416</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NETAPP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>64110D104</cusip>
			<value>1901</value>
			<shrsOrPrnAmt>
				<sshPrnamt>44251</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>44251</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NETFLIX INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>64110L106</cusip>
			<value>3611</value>
			<shrsOrPrnAmt>
				<sshPrnamt>8003</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>8003</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NEWELL RUBBERMAID INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>651229106</cusip>
			<value>1273</value>
			<shrsOrPrnAmt>
				<sshPrnamt>36990</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>36990</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NEWFIELD EXPLORATION CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>651290108</cusip>
			<value>676</value>
			<shrsOrPrnAmt>
				<sshPrnamt>18227</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>18227</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NEWMONT MINING CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>651639106</cusip>
			<value>1535</value>
			<shrsOrPrnAmt>
				<sshPrnamt>66580</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>66580</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NEWS CORP   CLASS A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>65249B109</cusip>
			<value>1087</value>
			<shrsOrPrnAmt>
				<sshPrnamt>66501</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>66501</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NEXTERA ENERGY INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>65339F101</cusip>
			<value>5469</value>
			<shrsOrPrnAmt>
				<sshPrnamt>58258</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>58258</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NIKE INC  CL B</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>654106103</cusip>
			<value>8391</value>
			<shrsOrPrnAmt>
				<sshPrnamt>94074</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>94074</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NISOURCE INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>65473P105</cusip>
			<value>1721</value>
			<shrsOrPrnAmt>
				<sshPrnamt>42000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>42000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NOBLE ENERGY INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>655044105</cusip>
			<value>3277</value>
			<shrsOrPrnAmt>
				<sshPrnamt>47934</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>47934</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NORDSTROM INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>655664100</cusip>
			<value>1285</value>
			<shrsOrPrnAmt>
				<sshPrnamt>18791</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>18791</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NORFOLK SOUTHERN CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>655844108</cusip>
			<value>4612</value>
			<shrsOrPrnAmt>
				<sshPrnamt>41326</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>41326</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NORTHEAST UTILITIES</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>664397106</cusip>
			<value>1868</value>
			<shrsOrPrnAmt>
				<sshPrnamt>42166</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>42166</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NORTHERN TRUST CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>665859104</cusip>
			<value>2021</value>
			<shrsOrPrnAmt>
				<sshPrnamt>29711</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>29711</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NORTHROP GRUMMAN CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>666807102</cusip>
			<value>3765</value>
			<shrsOrPrnAmt>
				<sshPrnamt>28572</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>28572</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NUCOR CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>670346105</cusip>
			<value>2307</value>
			<shrsOrPrnAmt>
				<sshPrnamt>42509</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>42509</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NVIDIA CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>67066G104</cusip>
			<value>1374</value>
			<shrsOrPrnAmt>
				<sshPrnamt>74482</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>74482</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>O REILLY AUTOMOTIVE INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>67103H107</cusip>
			<value>2126</value>
			<shrsOrPrnAmt>
				<sshPrnamt>14140</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>14140</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>OCCIDENTAL PETROLEUM CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>674599105</cusip>
			<value>10087</value>
			<shrsOrPrnAmt>
				<sshPrnamt>104913</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>104913</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>OMNICOM GROUP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>681919106</cusip>
			<value>2378</value>
			<shrsOrPrnAmt>
				<sshPrnamt>34534</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>34534</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ONEOK INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>682680103</cusip>
			<value>1820</value>
			<shrsOrPrnAmt>
				<sshPrnamt>27760</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>27760</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ORACLE CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>68389X105</cusip>
			<value>16648</value>
			<shrsOrPrnAmt>
				<sshPrnamt>434890</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>434890</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>OWENS ILLINOIS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>690768403</cusip>
			<value>574</value>
			<shrsOrPrnAmt>
				<sshPrnamt>22049</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>22049</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>P G + E CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>69331C108</cusip>
			<value>2794</value>
			<shrsOrPrnAmt>
				<sshPrnamt>62024</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>62024</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PNC FINANCIAL SERVICES GROUP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>693475105</cusip>
			<value>6106</value>
			<shrsOrPrnAmt>
				<sshPrnamt>71349</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>71349</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PPG INDUSTRIES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>693506107</cusip>
			<value>3637</value>
			<shrsOrPrnAmt>
				<sshPrnamt>18484</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>18484</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PPL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>69351T106</cusip>
			<value>2914</value>
			<shrsOrPrnAmt>
				<sshPrnamt>88723</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>88723</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PVH CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>693656100</cusip>
			<value>1333</value>
			<shrsOrPrnAmt>
				<sshPrnamt>11000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>11000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PACCAR INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>693718108</cusip>
			<value>2696</value>
			<shrsOrPrnAmt>
				<sshPrnamt>47403</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>47403</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PALL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>696429307</cusip>
			<value>1228</value>
			<shrsOrPrnAmt>
				<sshPrnamt>14676</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>14676</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PARKER HANNIFIN CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>701094104</cusip>
			<value>2273</value>
			<shrsOrPrnAmt>
				<sshPrnamt>19910</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>19910</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PATTERSON COS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>703395103</cusip>
			<value>454</value>
			<shrsOrPrnAmt>
				<sshPrnamt>10955</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>10955</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PAYCHEX INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>704326107</cusip>
			<value>1909</value>
			<shrsOrPrnAmt>
				<sshPrnamt>43198</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>43198</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PEOPLE S UNITED FINANCIAL</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>712704105</cusip>
			<value>599</value>
			<shrsOrPrnAmt>
				<sshPrnamt>41388</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>41388</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PEPCO HOLDINGS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>713291102</cusip>
			<value>897</value>
			<shrsOrPrnAmt>
				<sshPrnamt>33517</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>33517</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PEPSICO INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>713448108</cusip>
			<value>18840</value>
			<shrsOrPrnAmt>
				<sshPrnamt>202385</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>202385</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PERKINELMER INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>714046109</cusip>
			<value>659</value>
			<shrsOrPrnAmt>
				<sshPrnamt>15116</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>15116</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PETSMART INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>716768106</cusip>
			<value>925</value>
			<shrsOrPrnAmt>
				<sshPrnamt>13200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>13200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PFIZER INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>717081103</cusip>
			<value>25186</value>
			<shrsOrPrnAmt>
				<sshPrnamt>851750</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>851750</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PHILIP MORRIS INTERNATIONAL</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>718172109</cusip>
			<value>17519</value>
			<shrsOrPrnAmt>
				<sshPrnamt>210061</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>210061</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PHILLIPS 66</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>718546104</cusip>
			<value>6141</value>
			<shrsOrPrnAmt>
				<sshPrnamt>75528</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>75528</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PINNACLE WEST CAPITAL</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>723484101</cusip>
			<value>806</value>
			<shrsOrPrnAmt>
				<sshPrnamt>14760</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>14760</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PIONEER NATURAL RESOURCES CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>723787107</cusip>
			<value>3756</value>
			<shrsOrPrnAmt>
				<sshPrnamt>19067</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>19067</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PITNEY BOWES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>724479100</cusip>
			<value>676</value>
			<shrsOrPrnAmt>
				<sshPrnamt>27046</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>27046</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PLUM CREEK TIMBER CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>729251108</cusip>
			<value>923</value>
			<shrsOrPrnAmt>
				<sshPrnamt>23667</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>23667</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PRAXAIR INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>74005P104</cusip>
			<value>5042</value>
			<shrsOrPrnAmt>
				<sshPrnamt>39086</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>39086</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PRECISION CASTPARTS CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>740189105</cusip>
			<value>4574</value>
			<shrsOrPrnAmt>
				<sshPrnamt>19308</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>19308</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>T ROWE PRICE GROUP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>74144T108</cusip>
			<value>2751</value>
			<shrsOrPrnAmt>
				<sshPrnamt>35087</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>35087</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PRICELINE GROUP INC/THE</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>741503403</cusip>
			<value>8166</value>
			<shrsOrPrnAmt>
				<sshPrnamt>7048</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>7048</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PRINCIPAL FINANCIAL GROUP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>74251V102</cusip>
			<value>1915</value>
			<shrsOrPrnAmt>
				<sshPrnamt>36504</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>36504</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PROCTER + GAMBLE CO/THE</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>742718109</cusip>
			<value>30257</value>
			<shrsOrPrnAmt>
				<sshPrnamt>361318</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>361318</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PROGRESSIVE CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>743315103</cusip>
			<value>1837</value>
			<shrsOrPrnAmt>
				<sshPrnamt>72675</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>72675</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PROLOGIS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>74340W103</cusip>
			<value>2517</value>
			<shrsOrPrnAmt>
				<sshPrnamt>66770</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>66770</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PRUDENTIAL FINANCIAL INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>744320102</cusip>
			<value>5429</value>
			<shrsOrPrnAmt>
				<sshPrnamt>61731</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>61731</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PUBLIC SERVICE ENTERPRISE GP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>744573106</cusip>
			<value>2517</value>
			<shrsOrPrnAmt>
				<sshPrnamt>67599</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>67599</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PUBLIC STORAGE</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>74460D109</cusip>
			<value>3211</value>
			<shrsOrPrnAmt>
				<sshPrnamt>19365</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>19365</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PULTEGROUP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>745867101</cusip>
			<value>803</value>
			<shrsOrPrnAmt>
				<sshPrnamt>45488</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>45488</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>QEP RESOURCES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>74733V100</cusip>
			<value>740</value>
			<shrsOrPrnAmt>
				<sshPrnamt>24032</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>24032</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>QUALCOMM INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>747525103</cusip>
			<value>16854</value>
			<shrsOrPrnAmt>
				<sshPrnamt>225407</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>225407</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>QUANTA SERVICES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>74762E102</cusip>
			<value>1055</value>
			<shrsOrPrnAmt>
				<sshPrnamt>29082</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>29082</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>QUEST DIAGNOSTICS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>74834L100</cusip>
			<value>1168</value>
			<shrsOrPrnAmt>
				<sshPrnamt>19253</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>19253</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>RALPH LAUREN CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>751212101</cusip>
			<value>1287</value>
			<shrsOrPrnAmt>
				<sshPrnamt>7814</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>7814</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>RANGE RESOURCES CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>75281A109</cusip>
			<value>1524</value>
			<shrsOrPrnAmt>
				<sshPrnamt>22479</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>22479</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>RAYTHEON COMPANY</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>755111507</cusip>
			<value>4242</value>
			<shrsOrPrnAmt>
				<sshPrnamt>41743</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>41743</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>RED HAT INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>756577102</cusip>
			<value>1418</value>
			<shrsOrPrnAmt>
				<sshPrnamt>25248</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>25248</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>REGENERON PHARMACEUTICALS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>75886F107</cusip>
			<value>3569</value>
			<shrsOrPrnAmt>
				<sshPrnamt>9900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>9900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>REGIONS FINANCIAL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>7591EP100</cusip>
			<value>1848</value>
			<shrsOrPrnAmt>
				<sshPrnamt>184113</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>184113</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>REPUBLIC SERVICES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>760759100</cusip>
			<value>1391</value>
			<shrsOrPrnAmt>
				<sshPrnamt>35645</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>35645</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>REYNOLDS AMERICAN INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>761713106</cusip>
			<value>2450</value>
			<shrsOrPrnAmt>
				<sshPrnamt>41528</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
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			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>41528</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
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		<infoTable>
			<nameOfIssuer>ROBERT HALF INTL INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>770323103</cusip>
			<value>902</value>
			<shrsOrPrnAmt>
				<sshPrnamt>18403</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>18403</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ROCKWELL AUTOMATION INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>773903109</cusip>
			<value>2036</value>
			<shrsOrPrnAmt>
				<sshPrnamt>18526</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>18526</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ROCKWELL COLLINS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>774341101</cusip>
			<value>1418</value>
			<shrsOrPrnAmt>
				<sshPrnamt>18068</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>18068</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ROPER INDUSTRIES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>776696106</cusip>
			<value>1952</value>
			<shrsOrPrnAmt>
				<sshPrnamt>13341</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>13341</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ROSS STORES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>778296103</cusip>
			<value>2140</value>
			<shrsOrPrnAmt>
				<sshPrnamt>28320</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>28320</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>RYDER SYSTEM INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>783549108</cusip>
			<value>640</value>
			<shrsOrPrnAmt>
				<sshPrnamt>7110</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>7110</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SAFEWAY INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>786514208</cusip>
			<value>1054</value>
			<shrsOrPrnAmt>
				<sshPrnamt>30735</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>30735</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ST JUDE MEDICAL INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>790849103</cusip>
			<value>2282</value>
			<shrsOrPrnAmt>
				<sshPrnamt>37944</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>37944</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SALESFORCE.COM INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>79466L302</cusip>
			<value>4340</value>
			<shrsOrPrnAmt>
				<sshPrnamt>75436</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>75436</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SANDISK CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>80004C101</cusip>
			<value>2954</value>
			<shrsOrPrnAmt>
				<sshPrnamt>30159</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>30159</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SCANA CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>80589M102</cusip>
			<value>938</value>
			<shrsOrPrnAmt>
				<sshPrnamt>18908</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>18908</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SCHLUMBERGER LTD</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>806857108</cusip>
			<value>17682</value>
			<shrsOrPrnAmt>
				<sshPrnamt>173880</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>173880</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SCHWAB (CHARLES) CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>808513105</cusip>
			<value>4595</value>
			<shrsOrPrnAmt>
				<sshPrnamt>156337</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>156337</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SCRIPPS NETWORKS INTER CL A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>811065101</cusip>
			<value>1119</value>
			<shrsOrPrnAmt>
				<sshPrnamt>14333</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>14333</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SEALED AIR CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>81211K100</cusip>
			<value>905</value>
			<shrsOrPrnAmt>
				<sshPrnamt>25960</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>25960</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SEMPRA ENERGY</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>816851109</cusip>
			<value>3208</value>
			<shrsOrPrnAmt>
				<sshPrnamt>30441</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>30441</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SHERWIN WILLIAMS CO/THE</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>824348106</cusip>
			<value>2479</value>
			<shrsOrPrnAmt>
				<sshPrnamt>11321</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>11321</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SIGMA ALDRICH</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>826552101</cusip>
			<value>2162</value>
			<shrsOrPrnAmt>
				<sshPrnamt>15898</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>15898</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SIMON PROPERTY GROUP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>828806109</cusip>
			<value>6814</value>
			<shrsOrPrnAmt>
				<sshPrnamt>41445</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>41445</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>JM SMUCKER CO/THE</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>832696405</cusip>
			<value>1368</value>
			<shrsOrPrnAmt>
				<sshPrnamt>13822</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>13822</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SNAP ON INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>833034101</cusip>
			<value>938</value>
			<shrsOrPrnAmt>
				<sshPrnamt>7746</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>7746</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SOUTHERN CO/THE</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>842587107</cusip>
			<value>5192</value>
			<shrsOrPrnAmt>
				<sshPrnamt>118937</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>118937</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SOUTHWEST AIRLINES CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>844741108</cusip>
			<value>3120</value>
			<shrsOrPrnAmt>
				<sshPrnamt>92404</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>92404</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SOUTHWESTERN ENERGY CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>845467109</cusip>
			<value>1648</value>
			<shrsOrPrnAmt>
				<sshPrnamt>47148</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>47148</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SPECTRA ENERGY CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>847560109</cusip>
			<value>3515</value>
			<shrsOrPrnAmt>
				<sshPrnamt>89528</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>89528</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>STANLEY BLACK + DECKER INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>854502101</cusip>
			<value>1851</value>
			<shrsOrPrnAmt>
				<sshPrnamt>20843</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>20843</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>STAPLES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>855030102</cusip>
			<value>1045</value>
			<shrsOrPrnAmt>
				<sshPrnamt>86339</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>86339</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>STARBUCKS CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>855244109</cusip>
			<value>7586</value>
			<shrsOrPrnAmt>
				<sshPrnamt>100524</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>100524</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>STARWOOD HOTELS + RESORTS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>85590A401</cusip>
			<value>2130</value>
			<shrsOrPrnAmt>
				<sshPrnamt>25592</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>25592</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>STATE STREET CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>857477103</cusip>
			<value>4235</value>
			<shrsOrPrnAmt>
				<sshPrnamt>57528</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>57528</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>STERICYCLE INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>858912108</cusip>
			<value>1316</value>
			<shrsOrPrnAmt>
				<sshPrnamt>11290</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>11290</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>STRYKER CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>863667101</cusip>
			<value>3186</value>
			<shrsOrPrnAmt>
				<sshPrnamt>39459</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>39459</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SUNTRUST BANKS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>867914103</cusip>
			<value>2705</value>
			<shrsOrPrnAmt>
				<sshPrnamt>71126</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>71126</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SYMANTEC CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>871503108</cusip>
			<value>2172</value>
			<shrsOrPrnAmt>
				<sshPrnamt>92397</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>92397</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SYSCO CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>871829107</cusip>
			<value>2962</value>
			<shrsOrPrnAmt>
				<sshPrnamt>78044</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>78044</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TECO ENERGY INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>872375100</cusip>
			<value>542</value>
			<shrsOrPrnAmt>
				<sshPrnamt>31179</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>31179</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TJX COMPANIES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>872540109</cusip>
			<value>5532</value>
			<shrsOrPrnAmt>
				<sshPrnamt>93490</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>93490</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TARGET CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>87612E106</cusip>
			<value>5304</value>
			<shrsOrPrnAmt>
				<sshPrnamt>84616</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>84616</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TENET HEALTHCARE CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>88033G407</cusip>
			<value>771</value>
			<shrsOrPrnAmt>
				<sshPrnamt>12990</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>12990</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TERADATA CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>88076W103</cusip>
			<value>884</value>
			<shrsOrPrnAmt>
				<sshPrnamt>21098</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>21098</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TESORO CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>881609101</cusip>
			<value>1054</value>
			<shrsOrPrnAmt>
				<sshPrnamt>17292</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>17292</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TEXAS INSTRUMENTS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>882508104</cusip>
			<value>6872</value>
			<shrsOrPrnAmt>
				<sshPrnamt>144104</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>144104</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TEXTRON INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>883203101</cusip>
			<value>1343</value>
			<shrsOrPrnAmt>
				<sshPrnamt>37307</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>37307</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>THERMO FISHER SCIENTIFIC INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>883556102</cusip>
			<value>6482</value>
			<shrsOrPrnAmt>
				<sshPrnamt>53262</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>53262</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>3M CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>88579Y101</cusip>
			<value>12276</value>
			<shrsOrPrnAmt>
				<sshPrnamt>86644</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>86644</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TIFFANY + CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>886547108</cusip>
			<value>1427</value>
			<shrsOrPrnAmt>
				<sshPrnamt>14814</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>14814</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TIME WARNER INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>887317303</cusip>
			<value>8597</value>
			<shrsOrPrnAmt>
				<sshPrnamt>114303</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>114303</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TIME WARNER CABLE</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>88732J207</cusip>
			<value>5334</value>
			<shrsOrPrnAmt>
				<sshPrnamt>37176</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>37176</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TORCHMARK CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>891027104</cusip>
			<value>921</value>
			<shrsOrPrnAmt>
				<sshPrnamt>17583</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>17583</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TOTAL SYSTEM SERVICES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>891906109</cusip>
			<value>687</value>
			<shrsOrPrnAmt>
				<sshPrnamt>22189</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>22189</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TRACTOR SUPPLY COMPANY</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>892356106</cusip>
			<value>1138</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>TRAVELERS COS INC/THE</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>89417E109</cusip>
			<value>4361</value>
			<shrsOrPrnAmt>
				<sshPrnamt>46428</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>46428</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TRIPADVISOR INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>896945201</cusip>
			<value>1356</value>
			<shrsOrPrnAmt>
				<sshPrnamt>14828</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>14828</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TWENTY FIRST CENTURY FOX A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>90130A101</cusip>
			<value>8765</value>
			<shrsOrPrnAmt>
				<sshPrnamt>255606</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>255606</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TYSON FOODS INC CL A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>902494103</cusip>
			<value>1544</value>
			<shrsOrPrnAmt>
				<sshPrnamt>39215</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>39215</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>US BANCORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>902973304</cusip>
			<value>10138</value>
			<shrsOrPrnAmt>
				<sshPrnamt>242361</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>242361</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>UNDER ARMOUR INC CLASS A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>904311107</cusip>
			<value>1493</value>
			<shrsOrPrnAmt>
				<sshPrnamt>21600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>21600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>UNION PACIFIC CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>907818108</cusip>
			<value>13112</value>
			<shrsOrPrnAmt>
				<sshPrnamt>120938</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>120938</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>UNITED PARCEL SERVICE CL B</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>911312106</cusip>
			<value>9250</value>
			<shrsOrPrnAmt>
				<sshPrnamt>94112</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>94112</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>UNITED RENTALS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>911363109</cusip>
			<value>1422</value>
			<shrsOrPrnAmt>
				<sshPrnamt>12800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>12800</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>UNITED TECH CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>913017109</cusip>
			<value>11893</value>
			<shrsOrPrnAmt>
				<sshPrnamt>112626</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>112626</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>UNITEDHEALTH GROUP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>91324P102</cusip>
			<value>11288</value>
			<shrsOrPrnAmt>
				<sshPrnamt>130870</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>130870</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>UNIVERSAL HEALTH SERVICES B</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>913903100</cusip>
			<value>1275</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>UNUM GROUP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>91529Y106</cusip>
			<value>1181</value>
			<shrsOrPrnAmt>
				<sshPrnamt>34362</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>34362</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>URBAN OUTFITTERS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>917047102</cusip>
			<value>499</value>
			<shrsOrPrnAmt>
				<sshPrnamt>13592</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>13592</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>VF CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>918204108</cusip>
			<value>3036</value>
			<shrsOrPrnAmt>
				<sshPrnamt>45976</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>45976</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>VALERO ENERGY CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>91913Y100</cusip>
			<value>3295</value>
			<shrsOrPrnAmt>
				<sshPrnamt>71216</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>71216</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>VARIAN MEDICAL SYSTEMS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>92220P105</cusip>
			<value>1113</value>
			<shrsOrPrnAmt>
				<sshPrnamt>13897</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>13897</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>VENTAS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>92276F100</cusip>
			<value>2433</value>
			<shrsOrPrnAmt>
				<sshPrnamt>39276</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>39276</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>VERISIGN INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>92343E102</cusip>
			<value>909</value>
			<shrsOrPrnAmt>
				<sshPrnamt>16483</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>16483</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
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		<infoTable>
			<nameOfIssuer>VERIZON COMMUNICATIONS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>92343V104</cusip>
			<value>27643</value>
			<shrsOrPrnAmt>
				<sshPrnamt>552971</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>552971</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>VERTEX PHARMACEUTICALS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>92532F100</cusip>
			<value>3538</value>
			<shrsOrPrnAmt>
				<sshPrnamt>31500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>31500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>VIACOM INC CLASS B</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>92553P201</cusip>
			<value>4019</value>
			<shrsOrPrnAmt>
				<sshPrnamt>52241</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>52241</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>VISA INC CLASS A SHARES</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>92826C839</cusip>
			<value>14039</value>
			<shrsOrPrnAmt>
				<sshPrnamt>65796</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>65796</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>VORNADO REALTY TRUST</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>929042109</cusip>
			<value>2331</value>
			<shrsOrPrnAmt>
				<sshPrnamt>23322</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>23322</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>VULCAN MATERIALS CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>929160109</cusip>
			<value>1049</value>
			<shrsOrPrnAmt>
				<sshPrnamt>17419</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>17419</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WAL MART STORES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>931142103</cusip>
			<value>16150</value>
			<shrsOrPrnAmt>
				<sshPrnamt>211193</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>211193</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WALGREEN CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>931422109</cusip>
			<value>6947</value>
			<shrsOrPrnAmt>
				<sshPrnamt>117215</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>117215</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WASTE MANAGEMENT INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>94106L109</cusip>
			<value>2748</value>
			<shrsOrPrnAmt>
				<sshPrnamt>57816</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>57816</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WATERS CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>941848103</cusip>
			<value>1119</value>
			<shrsOrPrnAmt>
				<sshPrnamt>11290</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>11290</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WELLPOINT INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>94973V107</cusip>
			<value>4461</value>
			<shrsOrPrnAmt>
				<sshPrnamt>37296</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>37296</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WELLS FARGO + CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>949746101</cusip>
			<value>32951</value>
			<shrsOrPrnAmt>
				<sshPrnamt>635266</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>635266</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WESTERN DIGITAL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>958102105</cusip>
			<value>2715</value>
			<shrsOrPrnAmt>
				<sshPrnamt>27901</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>27901</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WESTERN UNION CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>959802109</cusip>
			<value>1154</value>
			<shrsOrPrnAmt>
				<sshPrnamt>71940</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>71940</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WEYERHAEUSER CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>962166104</cusip>
			<value>2241</value>
			<shrsOrPrnAmt>
				<sshPrnamt>70342</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>70342</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WHIRLPOOL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>963320106</cusip>
			<value>1507</value>
			<shrsOrPrnAmt>
				<sshPrnamt>10344</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>10344</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WHOLE FOODS MARKET INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>966837106</cusip>
			<value>1869</value>
			<shrsOrPrnAmt>
				<sshPrnamt>49040</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>49040</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WILLIAMS COS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>969457100</cusip>
			<value>4978</value>
			<shrsOrPrnAmt>
				<sshPrnamt>89928</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>89928</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WINDSTREAM HOLDINGS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>97382A101</cusip>
			<value>868</value>
			<shrsOrPrnAmt>
				<sshPrnamt>80495</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>80495</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WISCONSIN ENERGY CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>976657106</cusip>
			<value>1295</value>
			<shrsOrPrnAmt>
				<sshPrnamt>30110</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>30110</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WYNDHAM WORLDWIDE CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>98310W108</cusip>
			<value>1379</value>
			<shrsOrPrnAmt>
				<sshPrnamt>16971</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>16971</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WYNN RESORTS LTD</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>983134107</cusip>
			<value>2019</value>
			<shrsOrPrnAmt>
				<sshPrnamt>10794</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>10794</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>XCEL ENERGY INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>98389B100</cusip>
			<value>2038</value>
			<shrsOrPrnAmt>
				<sshPrnamt>67028</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>67028</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>XILINX INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>983919101</cusip>
			<value>1518</value>
			<shrsOrPrnAmt>
				<sshPrnamt>35845</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>35845</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>XEROX CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>984121103</cusip>
			<value>1930</value>
			<shrsOrPrnAmt>
				<sshPrnamt>145862</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>145862</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>XYLEM INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>98419M100</cusip>
			<value>871</value>
			<shrsOrPrnAmt>
				<sshPrnamt>24555</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>24555</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>YAHOO  INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>984332106</cusip>
			<value>5095</value>
			<shrsOrPrnAmt>
				<sshPrnamt>125021</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>125021</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>YUM  BRANDS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>988498101</cusip>
			<value>4245</value>
			<shrsOrPrnAmt>
				<sshPrnamt>58972</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>58972</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ZIMMER HOLDINGS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>98956P102</cusip>
			<value>2250</value>
			<shrsOrPrnAmt>
				<sshPrnamt>22372</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>22372</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ZIONS BANCORPORATION</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>989701107</cusip>
			<value>785</value>
			<shrsOrPrnAmt>
				<sshPrnamt>27022</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>27022</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ZOETIS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>98978V103</cusip>
			<value>2471</value>
			<shrsOrPrnAmt>
				<sshPrnamt>66875</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>66875</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FIRST HORIZON NATL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>DCA517101</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>MARRIOTT INTERNATIONAL</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>FHB903208</cusip>
			<value>0</value>
			<shrsOrPrnAmt>
				<sshPrnamt>72829</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>72829</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ACTAVIS PLC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G0083B108</cusip>
			<value>8514</value>
			<shrsOrPrnAmt>
				<sshPrnamt>35288</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>35288</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ALLEGION PLC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G0176J109</cusip>
			<value>573</value>
			<shrsOrPrnAmt>
				<sshPrnamt>12032</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>12032</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AON PLC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G0408V102</cusip>
			<value>3471</value>
			<shrsOrPrnAmt>
				<sshPrnamt>39595</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>39595</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ACCENTURE PLC CL A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G1151C101</cusip>
			<value>6872</value>
			<shrsOrPrnAmt>
				<sshPrnamt>84500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>84500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>COVIDIEN PLC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G2554F113</cusip>
			<value>5204</value>
			<shrsOrPrnAmt>
				<sshPrnamt>60159</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>60159</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DELPHI AUTOMOTIVE PLC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G27823106</cusip>
			<value>2263</value>
			<shrsOrPrnAmt>
				<sshPrnamt>36900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>36900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EATON CORP PLC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G29183103</cusip>
			<value>4031</value>
			<shrsOrPrnAmt>
				<sshPrnamt>63610</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>63610</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ENSCO PLC CL A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G3157S106</cusip>
			<value>1289</value>
			<shrsOrPrnAmt>
				<sshPrnamt>31200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>31200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>INGERSOLL RAND PLC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G47791101</cusip>
			<value>1888</value>
			<shrsOrPrnAmt>
				<sshPrnamt>33498</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>33498</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>INVESCO LTD</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G491BT108</cusip>
			<value>2282</value>
			<shrsOrPrnAmt>
				<sshPrnamt>57814</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>57814</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MALLINCKRODT PLC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G5785G107</cusip>
			<value>1361</value>
			<shrsOrPrnAmt>
				<sshPrnamt>15100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>15100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MICHAEL KORS HOLDINGS LTD</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G60754101</cusip>
			<value>1713</value>
			<shrsOrPrnAmt>
				<sshPrnamt>24000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>24000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NABORS INDUSTRIES LTD</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G6359F103</cusip>
			<value>795</value>
			<shrsOrPrnAmt>
				<sshPrnamt>34934</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>34934</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NOBLE CORP PLC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G65431101</cusip>
			<value>753</value>
			<shrsOrPrnAmt>
				<sshPrnamt>33905</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>33905</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SEAGATE TECHNOLOGY</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G7945M107</cusip>
			<value>2497</value>
			<shrsOrPrnAmt>
				<sshPrnamt>43600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>43600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PENTAIR PLC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G7S00T104</cusip>
			<value>1704</value>
			<shrsOrPrnAmt>
				<sshPrnamt>26014</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>26014</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PERRIGO CO PLC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G97822103</cusip>
			<value>2688</value>
			<shrsOrPrnAmt>
				<sshPrnamt>17900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>17900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>XL GROUP PLC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>G98290102</cusip>
			<value>1204</value>
			<shrsOrPrnAmt>
				<sshPrnamt>36298</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>36298</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ACE LTD</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>H0023R105</cusip>
			<value>4727</value>
			<shrsOrPrnAmt>
				<sshPrnamt>45078</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>45078</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GARMIN LTD</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>H2906T109</cusip>
			<value>853</value>
			<shrsOrPrnAmt>
				<sshPrnamt>16400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>16400</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TE CONNECTIVITY LTD</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>H84989104</cusip>
			<value>3019</value>
			<shrsOrPrnAmt>
				<sshPrnamt>54600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>54600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TRANSOCEAN LTD</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>H8817H100</cusip>
			<value>1451</value>
			<shrsOrPrnAmt>
				<sshPrnamt>45400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>45400</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TYCO INTERNATIONAL LTD</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>H89128104</cusip>
			<value>2743</value>
			<shrsOrPrnAmt>
				<sshPrnamt>61545</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>61545</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TRAVEL CENTERS OF AM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>JKE174103</cusip>
			<value>710</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 INDU CL A</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>N53745100</cusip>
			<value>6041</value>
			<shrsOrPrnAmt>
				<sshPrnamt>55600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>55600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NIELSEN NV</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>N63218106</cusip>
			<value>1795</value>
			<shrsOrPrnAmt>
				<sshPrnamt>40500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>40500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AVAGO TECHNOLOGIES LTD</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>Y0486S104</cusip>
			<value>2923</value>
			<shrsOrPrnAmt>
				<sshPrnamt>33600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<otherManager>N/A</otherManager>
			<votingAuthority>
				<Sole>33600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
</informationTable>
