The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AT&T Inc. COM 00206R102 6,260 176,824 SH   SOLE   176,824 0 0
Alcoa Inc COM 013817101 1,076 137,630 SH   SOLE   137,630 0 0
Allstate Corp. COM 020002101 10,894 226,385 SH   SOLE   226,385 0 0
AnnalyCapMgmtIncREIT COM 035710409 4,659 370,630 SH   SOLE   370,630 0 0
Applied Materials COM 038222105 3,154 211,375 SH   SOLE   211,375 0 0
ArcherDanielsMidland COM 039483102 9,359 275,995 SH   SOLE   275,995 0 0
BB&T Corporation COM 054937107 1,584 46,760 SH   SOLE   46,760 0 0
Baker Hughes Inc. COM 057224107 9,235 200,205 SH   SOLE   200,205 0 0
Bank of America Corp. COM 060505104 3,435 267,103 SH   SOLE   267,103 0 0
Becton Dickinson & Co. COM 075887109 2,104 21,285 SH   SOLE   21,285 0 0
Best Buy Company Inc COM 086516101 7,512 274,857 SH   SOLE   274,857 0 0
Black Box Corporation COM 091826107 5,510 217,616 SH   SOLE   217,616 0 0
Boeing Company COM 097023105 13,307 129,900 SH   SOLE   129,900 0 0
Coach Inc. COM 189754104 7,284 127,580 SH   SOLE   127,580 0 0
Cullen Frost Bankers COM 229899109 6,048 90,576 SH   SOLE   90,576 0 0
Dover Corporation COM 260003108 6,006 77,335 SH   SOLE   77,335 0 0
Dow Chemical Co COM 260543103 5,141 159,804 SH   SOLE   159,804 0 0
EMC Corporation COM 268648102 3,636 153,925 SH   SOLE   153,925 0 0
Emcore Corporation COM 290846203 45 12,500 SH   SOLE   12,500 0 0
Enzo Biochem Inc. COM 294100102 146 70,001 SH   SOLE   70,001 0 0
Gannett Company Inc COM 364730101 2,656 108,595 SH   SOLE   108,595 0 0
Hewlett-Packard Co COM 428236103 8,659 349,145 SH   SOLE   349,145 0 0
IBM Corporation COM 459200101 12,257 64,135 SH   SOLE   64,135 0 0
Johnson Controls Inc COM 478366107 2,615 73,075 SH   SOLE   73,075 0 0
Lincoln National Corp. COM 534187109 1,819 49,884 SH   SOLE   49,884 0 0
Marsh & McLennan COM 571748102 5,803 145,360 SH   SOLE   145,360 0 0
Microsoft Corporation COM 594918104 1,336 38,665 SH   SOLE   38,665 0 0
Mosaic Co. (The) COM 61945C103 2,048 38,060 SH   SOLE   38,060 0 0
Nat'l Oilwell Varco Inc COM 637071101 5,264 76,405 SH   SOLE   76,405 0 0
Occidental Petro Corp COM 674599105 1,676 18,780 SH   SOLE   18,780 0 0
Qualcomm Inc COM 747525103 2,258 36,960 SH   SOLE   36,960 0 0
Raytheon Company COM 755111507 4,825 72,975 SH   SOLE   72,975 0 0
Staples Inc COM 855030102 12,601 794,000 SH   SOLE   794,000 0 0
Star Scientific Inc COM 85517P101 278 200,000 SH   SOLE   200,000 0 0
US Natural Gas Fd ETF COM 912318201 676 35,650 SH   SOLE   35,650 0 0
Wal-Mart Stores Inc COM 931142103 5,696 76,465 SH   SOLE   76,465 0 0
Western Union Co/The COM 959802109 13,404 783,416 SH   SOLE   783,416 0 0
BP Plc ADS ADR 055622104 7,720 184,960 SH   SOLE   184,960 0 0
Barclays Plc ADR ADR 06738E204 3,713 216,875 SH   SOLE   216,875 0 0
Honda Motor Co Ltd. ADR 438128308 1,628 43,700 SH   SOLE   43,700 0 0
Nippon Telgrph&Telphn ADR 654624105 7,871 302,615 SH   SOLE   302,615 0 0
Rio Tinto Plc ADR 767204100 3,819 92,955 SH   SOLE   92,955 0 0
Royal Dutch Shell A Plc ADR 780259206 2,971 46,560 SH   SOLE   46,560 0 0
Teva Phrm Ind Ltd ADR ADR 881624209 9,475 241,705 SH   SOLE   241,705 0 0
Vodafone Group Plc ADR 92857W209 3,596 125,105 SH   SOLE   125,105 0 0
XL Group Ltd. ADR G98290102 6,460 213,070 SH   SOLE   213,070 0 0
Alliance Worldwide Privatizati MMF 01879X103 287 19,580 SH   SOLE   19,580 0 0
MrgnStnly AsiaPacific Fd MMF 61744U106 580 37,000 SH   SOLE   37,000 0 0
MrgnStnly India Invstmnt Fd MMF 61745C105 285 18,500 SH   SOLE   18,500 0 0
Phoenix Group Hldgs (PHNX LN) INTL B45JKK9 128 13,206 SH   SOLE   13,206 0 0