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
3M CO COM 88579y101 9,868 69,653 SH   SOLE 31,285 0 38,368
ACCENTURE PLC IRELAND SHS CLASS A g1151c101 7,646 94,022 SH   SOLE 40,575 0 53,447
AGILENT TECHNOLOGIES INC COM 00846u101 9,971 175,000 SH   DFND 1 175,000 0 0
AGILENT TECHNOLOGIES INC COM 00846u101 9,470 166,191 SH   SOLE 70,975 0 95,216
AMERICAN AIRLS GROUP INC COM 02376r102 4,435 125,000 SH   DFND 1 125,000 0 0
AMERICAN AIRLS GROUP INC COM 02376r102 5,635 158,825 SH   SOLE 67,605 0 91,220
APACHE CORP COM 037411105 3,732 39,762 SH   SOLE 17,370 0 22,392
ASHLAND INC NEW COM 044209104 9,889 95,000 SH   DFND 1 95,000 0 0
ASHLAND INC NEW COM 044209104 7,425 71,323 SH   SOLE 30,300 0 41,023
AUTOMATIC DATA PROCESSING IN COM 053015103 6,896 83,006 SH   SOLE 35,185 0 47,821
BAKER HUGHES INC COM 057224107 3,265 50,184 SH   SOLE 21,495 0 28,689
BANK AMER CORP COM 060505104 2,513 147,415 SH   SOLE 47,257 0 100,158
BB&T CORP COM 054937107 3,721 100,000 SH   DFND 1 100,000 0 0
BB&T CORP COM 054937107 5,924 159,216 SH   SOLE 67,625 0 91,591
BED BATH & BEYOND INC COM 075896100 7,807 118,596 SH   SOLE 50,235 0 68,361
CAMERON INTERNATIONAL CORP COM 13342b105 15,035 226,497 SH   SOLE 96,402 0 130,095
CAMERON INTERNATIONAL CORP COM 13342b105 11,616 175,000 SH   DFND 1 175,000 0 0
CORE LABORATORIES N V COM n22717107 4,390 30,000 SH   DFND 1 30,000 0 0
CORNING INC COM 219350105 3,868 200,000 SH   DFND 1 200,000 0 0
CORNING INC COM 219350105 6,018 311,178 SH   SOLE 132,680 0 178,498
CUMMINS INC COM 231021106 4,619 35,000 SH   DFND 1 35,000 0 0
DELPHI AUTOMOTIVE PLC SHS g27823106 5,335 86,980 SH   SOLE 37,215 0 49,765
DELPHI AUTOMOTIVE PLC SHS g27823106 6,134 100,000 SH   DFND 1 100,000 0 0
DISNEY WALT CO COM DISNEY 254687106 8,449 94,904 SH   SOLE 40,925 0 53,979
DSW INC CL A 23334L102 3,011 100,000 SH   DFND 1 100,000 0 0
DU PONT E I DE NEMOURS & CO COM 263534109 7,176 100,000 SH   DFND 1 100,000 0 0
DU PONT E I DE NEMOURS & CO COM 263534109 9,160 127,654 SH   SOLE 54,415 0 73,239
EATON CORP PLC SHS G29183103 6,595 104,069 SH   SOLE 44,600 0 59,469
EXPRESS SCRIPTS HLDG CO COM 30219g108 7,063 100,000 SH   DFND 1 100,000 0 0
EXPRESS SCRIPTS HLDG CO COM 30219g108 6,758 95,679 SH   SOLE 40,770 0 54,909
F M C CORP COM NEW 302491303 7,761 135,700 SH   SOLE 57,830 0 77,870
F M C CORP COM NEW 302491303 5,719 100,000 SH   DFND 1 100,000 0 0
GOLDMAN SACHS GROUP INC COM 38141g104 9,178 50,000 SH   DFND 1 50,000 0 0
GOLDMAN SACHS GROUP INC COM 38141g104 10,094 54,985 SH   SOLE 20,745 0 34,240
HERTZ GLOBAL HOLDINGS INC COM 42805t105 5,078 200,000 SH   DFND 1 200,000 0 0
HERTZ GLOBAL HOLDINGS INC COM 42805t105 7,859 309,545 SH   SOLE 131,460 0 178,085
INGERSOLL-RAND PLC SHS g47791101 3,666 65,049 SH   SOLE 27,650 0 37,399
INTL PAPER CO COM 460146103 5,957 124,775 SH   SOLE 53,120 0 71,655
JACOBS ENGR GROUP INC DEL COM 469814107 7,323 150,000 SH   DFND 1 150,000 0 0
JACOBS ENGR GROUP INC DEL COM 469814107 5,106 104,588 SH   SOLE 44,250 0 60,338
LIBERTY GLOBAL PLC SHS CL C g5480u120 5,744 140,040 SH   SOLE 59,670 0 80,370
LOCKHEED MARTIN CORP COM 539830109 7,554 41,327 SH   SOLE 17,405 0 23,922
MACYS INC COM 55616p104 7,883 135,492 SH   SOLE 60,060 0 75,432
MANITOWOC INC COM 563571108 2,345 100,000 SH   DFND 1 100,000 0 0
METLIFE INC COM 59156r108 7,823 145,632 SH   SOLE 61,820 0 83,812
METLIFE INC COM 59156r108 10,744 200,000 SH   DFND 1 200,000 0 0
MICROSOFT CORP COM 594918104 7,016 151,327 SH   SOLE 64,460 0 86,867
MONSANTO CO NEW COM 61166w101 5,733 50,953 SH   SOLE 21,595 0 29,358
NIKE INC CL B 654106103 8,590 96,298 SH   SOLE 41,305 0 54,993
PEPSICO INC COM 713448108 5,982 64,258 SH   SOLE 27,380 0 36,878
POTASH CORP SASK INC COM 73755l107 2,592 75,000 SH   DFND 1 75,000 0 0
POTASH CORP SASK INC COM 73755l107 5,800 167,835 SH   SOLE 70,990 0 96,845
SCHLUMBERGER LTD COM 806857108 9,652 94,917 SH   SOLE 40,480 0 54,437
TIMKEN CO COM 887389104 3,815 90,000 SH   DFND 1 90,000 0 0
TIMKEN CO COM 887389104 3,945 93,065 SH   SOLE 39,490 0 53,575
U S G CORP COM NEW 903293405 3,914 142,392 SH   SOLE 60,370 0 82,022
U S G CORP COM NEW 903293405 6,598 240,000 SH   DFND 1 240,000 0 0
UNION PAC CORP COM 907818108 10,159 93,705 SH   SOLE 40,080 0 53,625
UNITED PARCEL SERVICE INC CL B 911312106 6,758 68,755 SH   SOLE 29,225 0 39,530
UNITED TECHNOLOGIES CORP COM 913017109 8,803 83,359 SH   SOLE 35,550 0 47,809
WABCO HLDGS INC COM 92927k102 7,712 84,799 SH   SOLE 35,938 0 48,861
WELLS FARGO & CO NEW COM 949746101 7,502 144,630 SH   SOLE 74,880 0 69,750