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
AETNA INC NEW COM 00817Y108 10,495 140,000 SH   SOLE   140,000 0 0
ALCOA INC COM 013817101 52,961 4,115,123 SH   SOLE   4,115,123 0 0
ALLSTATE CORP COM 020002101 96,722 1,709,490 SH   SOLE   1,709,490 0 0
AMERICAN AIRLS GROUP INC COM 02376R102 15,891 434,189 SH   SOLE   434,189 0 0
AMERICAN ELEC PWR INC COM 025537101 19,580 386,500 SH   SOLE   386,500 0 0
AMERICAN EXPRESS CO COM 025816109 67,540 750,201 SH   SOLE   750,201 0 0
APPLE INC COM 037833100 88,809 165,460 SH   SOLE   165,460 0 0
ASTRAZENECA PLC SPONSORED ADR 046353108 9,259 142,712 SH   SOLE   142,712 0 0
AXIS CAPITAL HOLDINGS LTD SHS G0692U109 20,562 448,473 SH   SOLE   448,473 0 0
BAKER HUGHES INC COM 057224107 27,076 416,430 SH   SOLE   416,430 0 0
BANK OF AMERICA CORPORATION COM 060505104 40,830 2,373,847 SH   SOLE   2,373,847 0 0
BARCLAYS PLC ADR 06738E204 15,947 1,015,735 SH   SOLE   1,015,735 0 0
BOEING CO COM 097023105 66,915 533,236 SH   SOLE   533,236 0 0
CHUBB CORP COM 171232101 18,040 202,025 SH   SOLE   202,025 0 0
CIGNA CORPORATION COM 125509109 22,064 263,525 SH   SOLE   263,525 0 0
CISCO SYS INC COM 17275R102 896 40,000 SH   SOLE   40,000 0 0
CITIGROUP INC COM NEW 172967424 43,144 906,400 SH   SOLE   906,400 0 0
CONOCOPHILLIPS COM 20825C104 92,168 1,310,147 SH   SOLE   1,310,147 0 0
CVS CAREMARK CORPORATION COM 126650100 45,788 611,656 SH   SOLE   611,656 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 124,903 3,604,732 SH   SOLE   3,604,732 0 0
DOW CHEM CO COM 260543103 45,665 939,805 SH   SOLE   939,805 0 0
DU PONT E I DE NEMOURS & CO COM 263534109 15,798 235,449 SH   SOLE   235,449 0 0
DUKE ENERGY CORP NEW COM NEW 26441C204 38,833 545,255 SH   SOLE   545,255 0 0
E M C CORP MASS COM 268648102 18,063 659,000 SH   SOLE   659,000 0 0
EASTMAN CHEM CO COM 277432100 27,087 314,200 SH   SOLE   314,200 0 0
EMBRAER S A SP ADR REP 4 COM 29082A107 38,863 1,095,062 SH   SOLE   1,095,062 0 0
EXELIS INC COM 30162A108 216 11,400 SH   SOLE   11,400 0 0
GENWORTH FINL INC COM CL A 37247D106 12,453 702,400 SH   SOLE   702,400 0 0
GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 14,490 271,200 SH   SOLE   271,200 0 0
GOOGLE INC CL A 38259P508 73,023 65,521 SH   SOLE   65,521 0 0
HALLIBURTON CO COM 406216101 54,166 919,787 SH   SOLE   919,787 0 0
HEWLETT PACKARD CO COM 428236103 61,409 1,897,700 SH   SOLE   1,897,700 0 0
HOLLYFRONTIER CORP COM 436106108 11,750 246,965 SH   SOLE   246,965 0 0
JETBLUE AIRWAYS CORP COM 477143101 12,966 1,492,148 SH   SOLE   1,492,148 0 0
KBR INC COM 4824W106 256 9,600 SH   SOLE   9,600 0 0
KKR & CO L P DEL COM UNITS 48248M102 1,087 47,600 SH   SOLE   47,600 0 0
KROGER CO COM 501044101 27,477 629,498 SH   SOLE   629,498 0 0
LAZARD LTD SHS A G54050102 399 8,483 SH   SOLE   8,483 0 0
LOCKHEED MARTIN CORP COM 539830109 652 4,000 SH   SOLE   4,000 0 0
LYONDELLBASELL INDUSTRIES N SHS - A - N53745100 3,023 34,000 SH   SOLE   34,000 0 0
MACYS INC COM 55616P104 48,500 818,019 SH   SOLE   818,019 0 0
MEDASSETS INC COM 584045108 753 30,500 SH   SOLE   30,500 0 0
MICRON TECHNOLOGY INC COM 595112103 33,624 1,421,140 SH   SOLE   1,421,140 0 0
MICROSOFT CORP COM 594918104 79,168 1,931,400 SH   SOLE   1,931,400 0 0
OPPENHEIMER HLDGS INC CL A NON VTG 683797104 375 13,404 SH   SOLE   13,404 0 0
ORACLE CORP COM 68389X105 35,203 860,500 SH   SOLE   860,500 0 0
PARTNERRE LTD COM G6852T105 39,913 385,639 SH   SOLE   385,639 0 0
PILGRIMS PRIDE CORP NEW COM 72147K108 1,698 81,200 SH   SOLE   81,200 0 0
QUALCOMM INC COM 747525103 55,478 703,505 SH   SOLE   703,505 0 0
ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 78,060 1,068,445 SH   SOLE   1,068,445 0 0
SANDISK CORP COM 80004C101 22,618 278,593 SH   SOLE   278,593 0 0
SCHLUMBERGER LTD COM 806857108 33,481 343,400 SH   SOLE   343,400 0 0
SIRIUS XM HLDGS INC COM 82968B103 5,608 1,752,689 SH   SOLE   1,752,689 0 0
SOUTHERN CO COM 842587107 12,781 290,894 SH   SOLE   290,894 0 0
TARGET CORP COM 87612E106 30,442 503,100 SH   SOLE   503,100 0 0
TELEDYNE TECHNOLOGIES INC COM 879360105 386 3,967 SH   SOLE   3,967 0 0
TIVO INC COM 888706108 1,124 85,000 SH   SOLE   85,000 0 0
TOTAL S A SPONSORED ADR 89151E109 55,282 842,724 SH   SOLE   842,724 0 0
TYSON FOODS INC CL A 902494103 56,479 1,283,340 SH   SOLE   1,283,340 0 0
UNITED RENTALS INC COM 911363109 8,211 86,494 SH   SOLE   86,494 0 0
UNUM GROUP COM 91529Y106 19,981 565,882 SH   SOLE   565,882 0 0
VALERO ENERGY CORP NEW COM 91913Y100 14,278 268,900 SH   SOLE   268,900 0 0
WELLPOINT INC COM 94973V107 100,531 1,009,859 SH   SOLE   1,009,859 0 0
WHIRLPOOL CORP COM 963320106 16,698 111,723 SH   SOLE   111,723 0 0