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

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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
Aecom COM 00766t100 4 120 SH   SOLE   120 0 0
Aegean Marine Petroleum Inc COM y0017s102 13,398 1,769,818 SH   SOLE   1,769,818 0 0
Ally Financial Inc COM 02005n100 16,723 893,337 SH   SOLE   893,337 0 0
Ameriserv Financial Inc COM 03074A102 756 252,746 SH   SOLE   252,746 0 0
ArcBest Corporation COM 03937c105 7,417 343,516 SH   SOLE   343,516 0 0
Ascena Retail Group Inc COM 04351g101 9,504 859,347 SH   SOLE   859,347 0 0
Atlas Air Worldwide Holdings I COM 049164205 23,136 547,346 SH   SOLE   547,346 0 0
Avnet Inc COM 053807103 4 80 SH   SOLE   80 0 0
Bank Of America Corp COM 060505104 4 260 SH   SOLE   260 0 0
Bed Bath & Beyond Inc COM 075896100 3 70 SH   SOLE   70 0 0
Bunge Limited COM G16962105 3 60 SH   SOLE   60 0 0
CNA Financial Corp COM 126117100 12,274 381,422 SH   SOLE   381,422 0 0
Chicago Bridge & Iron Company COM 167250109 14,210 388,344 SH   SOLE   388,344 0 0
Citigroup Inc Com COM 172967424 3 80 SH   SOLE   80 0 0
Cloud Peak Energy Inc COM 18911Q102 4,838 2,481,156 SH   SOLE   2,481,156 0 0
Commercial Metals Co COM 201723103 4 220 SH   SOLE   220 0 0
Computer Sciences Corporation COM 205363104 4 110 SH   SOLE   110 0 0
Dana Holding Corp COM 235825205 4 260 SH   SOLE   260 0 0
Destination Maternity Corporat COM 25065d100 4,222 617,299 SH   SOLE   617,299 0 0
Flextronics International Ltd COM Y2573F102 24,826 2,058,555 SH   SOLE   2,058,555 0 0
Ford Motor Co. COM 345370860 4 260 SH   SOLE   260 0 0
General Cable Corporation COM 369300108 15,242 1,248,348 SH   SOLE   1,248,348 0 0
General Motors Company COM 37045V100 3 110 SH   SOLE   110 0 0
Global Brass and Copper Inc COM 37953g103 17,170 688,168 SH   SOLE   688,168 0 0
Goldman Sachs Group Inc COM 38141g104 3 20 SH   SOLE   20 0 0
Goodyear Tire & Rubber Co COM 382550101 28,097 851,933 SH   SOLE   851,933 0 0
Group 1 Automotive Inc COM 398905109 6,904 117,641 SH   SOLE   117,641 0 0
HP Inc. COM 40434L105 4 310 SH   SOLE   310 0 0
Huntsman Corp COM 447011107 18,697 1,405,812 SH   SOLE   1,405,812 0 0
Ingram Micro Inc COM 457153104 11,601 323,063 SH   SOLE   323,063 0 0
Magna International Inc COM 559222401 3 80 SH   SOLE   80 0 0
McDermott International Inc COM 580037109 16,626 4,065,085 SH   SOLE   4,065,085 0 0
Meritor Inc COM 59001K100 16,885 2,094,874 SH   SOLE   2,094,874 0 0
Micron Technology Inc COM 595112103 3 310 SH   SOLE   310 0 0
Navistar Intl Corp COM 63934E108 18,816 1,502,840 SH   SOLE   1,502,840 0 0
PBF Energy Inc COM 69318G106 21,306 641,761 SH   SOLE   641,761 0 0
PENSKE AUTOMOTIVE GROUP INC COM 70959w103 3 90 SH   SOLE   90 0 0
PHH Corporation COM 693320202 9,154 730,001 SH   SOLE   730,001 0 0
Parker Drilling Co COM 701081101 15,471 7,297,569 SH   SOLE   7,297,569 0 0
Pier 1 Imports Inc COM 720279108 14,373 2,050,422 SH   SOLE   2,050,422 0 0
Renewable Energy Group Inc COM 75972a301 18,165 1,924,247 SH   SOLE   1,924,247 0 0
Ryerson Holding Corporation COM 783754104 15,458 2,780,248 SH   SOLE   2,780,248 0 0
Sanmina Corporation COM 801056102 22,562 965,005 SH   SOLE   965,005 0 0
SkyWest Inc COM 830879102 26,978 1,349,589 SH   SOLE   1,349,589 0 0
Staples Inc COM 855030102 4 350 SH   SOLE   350 0 0
Star Bulk Carriers Corp COM Y8162K121 4,707 6,275,421 SH   SOLE   6,275,421 0 0
Tenneco Inc COM 880349105 4 70 SH   SOLE   70 0 0
Tesoro Corporation COM 881609101 3 40 SH   SOLE   40 0 0
Titan Machinery Inc COM 88830R101 10,063 870,518 SH   SOLE   870,518 0 0
Tribune Publishing Company COM 896082104 10,816 1,400,996 SH   SOLE   1,400,996 0 0
Trinseo SA COM l9340p101 26,084 708,622 SH   SOLE   708,622 0 0
Triumph Group Inc COM 896818101 3 110 SH   SOLE   110 0 0
Tutor Perini Corporation COM 901109108 15,474 995,755 SH   SOLE   995,755 0 0
Unisys Corporation COM 909214306 13,615 1,768,181 SH   SOLE   1,768,181 0 0
XL Group Plc COM g98290102 3 90 SH   SOLE   90 0 0