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
ADVANCE AUTO PARTS INC COM 00751Y106 1,844 22,300 SH   SOLE   22,300 0 0
AGL RES INC COM 001204106 31,366 681,416 SH   SOLE   681,416 0 0
ALASKA AIR GROUP INC COM 011659109 6,425 102,600 SH   SOLE   102,600 0 0
ALEXION PHARMACEUTICALS INC COM 015351109 247 2,130 SH   SOLE   2,130 0 0
ALLIANT ENERGY CORP COM 018802108 2,857 57,654 SH   SOLE   57,654 0 0
ALLIANT TECHSYSTEMS INC COM 018804104 6,537 67,000 SH   SOLE   67,000 0 0
ALTRIA GROUP INC COM 02209S103 2,576 75,000 SH   SOLE   75,000 0 0
AMEREN CORP COM 023608102 4,525 129,890 SH   SOLE   129,890 0 0
AMERICAN AXLE & MFG HLDGS INC COM 024061103 6,494 329,300 SH   SOLE   329,300 0 0
AMERICAN CAP LTD COM COM 02503Y103 2,200 160,000 SH   SOLE   160,000 0 0
AMERICAN EQTY INVT LIFE HLD COM 025676206 6,587 310,400 SH   SOLE   310,400 0 0
AMERICAN EXPRESS CO COM 025816109 378 5,000 SH   SOLE   5,000 0 0
AMERICAN INTL GROUP INC COM NEW 026874784 9,624 197,900 SH   SOLE   197,900 0 0
AMERICAN WOODMARK CORP COM 030506109 4,726 136,400 SH   SOLE   136,400 0 0
AMTRUST FINL SVCS INC COM 032359309 6,488 166,100 SH   SOLE   166,100 0 0
APOGEE ENTERPRISES INC COM 037598109 5,136 173,037 SH   SOLE   173,037 0 0
APPLE INC COM 037833100 1,454 3,050 SH   SOLE   3,050 0 0
ARCELORMITTAL SA LUXEMBOURG NY REGISTRY SH 03938L104 2,005 146,700 SH   SOLE   146,700 0 0
ASTORIA FINL CORP COM 046265104 7,899 635,000 SH   SOLE   635,000 0 0
AT&T INC COM 00206R102 8,345 246,750 SH   SOLE   246,750 0 0
ATMOS ENERGY CORP COM 049560105 27,780 652,262 SH   SOLE   652,262 0 0
AUTOMATIC DATA PROCESSING INC COM 053015103 3,062 42,300 SH   SOLE   42,300 0 0
AUTOZONE INC COM 053332102 1,902 4,500 SH   SOLE   4,500 0 0
AVERY DENNISON CORP COM 053611109 4,713 108,300 SH   SOLE   108,300 0 0
AVIS BUDGET GROUP COM 053774105 12,011 416,600 SH   SOLE   416,600 0 0
AVISTA CORP COM 05379B107 2,058 77,972 SH   SOLE   77,972 0 0
AXIALL CORP COM 05463D100 2,751 72,800 SH   SOLE   72,800 0 0
BANCO SANTANDER SA ADR 05964H105 2,533 310,000 SH   SOLE   310,000 0 0
BANCORP INC DEL COM 05969A105 5,848 330,000 SH   SOLE   330,000 0 0
BANK OF AMERICA CORPORATION COM 060505104 4,016 291,000 SH   SOLE   291,000 0 0
BANKUNITED INC COM 06652K103 9,981 320,000 SH   SOLE   320,000 0 0
BANNER CORP COM NEW 06652V208 9,540 250,000 SH   SOLE   250,000 0 0
BAXTER INTL INC COM 071813109 1,627 24,775 SH   SOLE   24,775 0 0
BEACON ROOFING SUPPLY INC COM 073685109 4,152 112,600 SH   SOLE   112,600 0 0
BED BATH & BEYOND INC COM 075896100 2,158 27,900 SH   SOLE   27,900 0 0
BERKSHIRE HATHAWAY INC CL A 084670108 5,624 33 SH   SOLE   33 0 0
BLACK HILLS CORP COM 092113109 3,096 62,100 SH   SOLE   62,100 0 0
BLACKSTONE GROUP L P COM UNIT LTD 09253U108 3,609 145,000 SH   SOLE   145,000 0 0
BOEING CO COM 097023105 2,573 21,900 SH   SOLE   21,900 0 0
BP PLC SPONSORED ADR 055622104 2,408 57,300 SH   SOLE   57,300 0 0
BRISTOL MYERS SQUIBB CO COM 110122108 3,216 69,500 SH   SOLE   69,500 0 0
BROOKDALE SR LIVING INC COM 112463104 3,987 151,600 SH   SOLE   151,600 0 0
BROOKLINE BANCORP INC DEL COM 11373M107 1,459 155,000 SH   SOLE   155,000 0 0
BRUNSWICK CORP COM 117043109 11,374 285,000 SH   SOLE   285,000 0 0
CABELAS INC COM 126804301 5,660 89,800 SH   SOLE   89,800 0 0
CALUMET SPECIALTY PRODS PTNRS UT LTD PARTNER 131476103 3,269 119,800 SH   SOLE   119,800 0 0
CAMPBELL SOUP CO COM 134429109 1,848 45,400 SH   SOLE   45,400 0 0
CAPITAL BK FINL CORP COM 139794101 3,841 175,000 SH   SOLE   175,000 0 0
CAPITAL ONE FINL CORP COM 14040H105 4,124 60,000 SH   SOLE   60,000 0 0
CAPITALSOURCE INC COM 14055X102 5,584 470,000 SH   SOLE   470,000 0 0
CARDINAL HEALTH INC COM 14149Y108 2,023 38,800 SH   SOLE   38,800 0 0
CARLISLE COS INC COM 142339100 4,477 63,700 SH   SOLE   63,700 0 0
CATAMARAN CORP COM 148887102 3,708 80,700 SH   SOLE   80,700 0 0
CATERPILLAR INC DEL COM 149123101 1,534 18,400 SH   SOLE   18,400 0 0
CELADON GROUP INC COM 150838100 3,904 209,100 SH   SOLE   209,100 0 0
CENTERPOINT ENERGY INC COM 15189T107 26,468 1,104,226 SH   SOLE   1,104,226 0 0
CENTURYLINK INC COM 156700106 1,955 62,300 SH   SOLE   62,300 0 0
CF INDS HLDGS INC COM 125269100 1,687 8,000 SH   SOLE   8,000 0 0
CHENIERE ENERGY INC COM NEW 16411R208 56,386 1,651,617 SH   SOLE   1,651,617 0 0
CHESAPEAKE UTILS CORP COM 165303108 2,733 52,068 SH   SOLE   52,068 0 0
CHEVRON CORP NEW COM 166764100 9,574 78,800 SH   SOLE   78,800 0 0
CIENA CORP COM NEW 171779309 6,507 260,500 SH   SOLE   260,500 0 0
CIGNA CORPORATION COM 125509109 5,449 70,900 SH   SOLE   70,900 0 0
CISCO SYS INC COM 17275R102 641 27,350 SH   SOLE   27,350 0 0
CIT GROUP INC COM NEW 125581801 3,853 79,000 SH   SOLE   79,000 0 0
CITIGROUP INC COM NEW 172967424 4,123 85,000 SH   SOLE   85,000 0 0
CMS ENERGY CORP COM 125896100 14,190 539,148 SH   SOLE   539,148 0 0
COMERICA INC COM 200340107 2,555 65,000 SH   SOLE   65,000 0 0
COMPUTER SCIENCES CORP COM 205363104 6,581 127,200 SH   SOLE   127,200 0 0
CONAGRA FOODS INC COM 205887102 2,351 77,500 SH   SOLE   77,500 0 0
CONOCOPHILLIPS COM 20825C104 4,984 71,700 SH   SOLE   71,700 0 0
CONSOLIDATED EDISON INC COM 209115104 18,300 331,886 SH   SOLE   331,886 0 0
CORNING NAT GAS CORP COM 219381100 263 15,135 SH   SOLE   15,135 0 0
COWEN GROUP INC NEW CL A 223622101 483 140,000 SH   SOLE   140,000 0 0
CRACKER BARREL OLD CTRY STORE COM 22410J106 6,545 63,400 SH   SOLE   63,400 0 0
CUMMINS INC COM 231021106 2,046 15,400 SH   SOLE   15,400 0 0
CUSTOMERS BANCORP INC COM 23204G100 2,508 155,800 SH   SOLE   155,800 0 0
DEERE & CO COM 244199105 1,546 19,000 SH   SOLE   19,000 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 10,465 443,600 SH   SOLE   443,600 0 0
DELTA NAT GAS INC COM 247748106 1,074 48,605 SH   SOLE   48,605 0 0
DINEEQUITY INC COM 254423106 3,961 57,400 SH   SOLE   57,400 0 0
DIRECTV COM 25490A309 1,942 32,500 SH   SOLE   32,500 0 0
DISCOVER FINL SVCS COM 254709108 4,144 82,000 SH   SOLE   82,000 0 0
DOLLAR TREE INC COM 256746108 2,389 41,800 SH   SOLE   41,800 0 0
DOMINION RES INC VA NEW COM 25746U109 52,833 845,596 SH   SOLE   845,596 0 0
DOVER CORP COM 260003108 238 2,650 SH   SOLE   2,650 0 0
DOW CHEM CO COM 260543103 3,022 78,700 SH   SOLE   78,700 0 0
DR PEPPER SNAPPLE GROUP INC COM 26138E109 1,640 36,600 SH   SOLE   36,600 0 0
DREW INDS INC COM NEW 26168L205 5,128 112,600 SH   SOLE   112,600 0 0
DTE ENERGY CO COM 233331107 11,906 180,454 SH   SOLE   180,454 0 0
DU PONT E I DE NEMOURS & CO COM 263534109 9,990 170,600 SH   SOLE   170,600 0 0
DUKE ENERGY CORP NEW COM NEW 26441C204 6,734 100,837 SH   SOLE   100,837 0 0
DXP ENTERPRISES INC NEW COM NEW 233377407 5,670 71,800 SH   SOLE   71,800 0 0
EMCOR GROUP INC COM 29084Q100 4,414 112,800 SH   SOLE   112,800 0 0
EMPIRE DIST ELEC CO COM 291641108 440 20,300 SH   SOLE   20,300 0 0
ENBRIDGE INC COM 29250N105 51,981 1,245,348 SH   SOLE   1,245,348 0 0
ENCORE CAP GROUP INC COM 292554102 9,860 215,000 SH   SOLE   215,000 0 0
ENERGEN CORP COM 29265N108 7,218 94,492 SH   SOLE   94,492 0 0
ENERGY TRANSFER EQUITY L P COM UT LTD PTN 29273V100 55,828 848,704 SH   SOLE   848,704 0 0
ENTERGY CORP NEW COM 29364G103 594 9,400 SH   SOLE   9,400 0 0
EQT CORP COM 26884L109 8,780 98,960 SH   SOLE   98,960 0 0
EVERBANK FINL CORP COM 29977G102 3,445 230,000 SH   SOLE   230,000 0 0
EXELON CORP COM 30161N101 9,733 328,381 SH   SOLE   328,381 0 0
EXXON MOBIL CORP COM 30231G102 1,575 18,300 SH   SOLE   18,300 0 0
FAMILY DLR STORES INC COM 307000109 1,779 24,700 SH   SOLE   24,700 0 0
FIDELITY NATIONAL FINANCIAL CL A 31620R105 4,456 167,500 SH   SOLE   167,500 0 0
FIFTH & PAC COS INC COM 316645100 6,370 253,500 SH   SOLE   253,500 0 0
FIFTH THIRD BANCORP COM 316773100 3,446 191,000 SH   SOLE   191,000 0 0
FIRST BANCORP P R COM NEW 318672706 6,276 1,105,000 SH   SOLE   1,105,000 0 0
FIRST CONN BANCORP INC MD COM 319850103 2,573 175,000 SH   SOLE   175,000 0 0
FIRST HORIZON NATL CORP COM 320517105 1,319 120,000 SH   SOLE   120,000 0 0
FIRST NIAGARA FINL GP INC COM 33582V108 2,437 235,000 SH   SOLE   235,000 0 0
FLAGSTAR BANCORP INC COM PAR .001 337930705 7,675 520,000 SH   SOLE   520,000 0 0
FLOWERS FOODS INC COM 343498101 6,438 300,300 SH   SOLE   300,300 0 0
FLUOR CORP NEW COM 343412102 2,022 28,500 SH   SOLE   28,500 0 0
FLUSHING FINL CORP COM 343873105 7,565 410,000 SH   SOLE   410,000 0 0
FOOT LOCKER INC COM 344849104 1,694 49,900 SH   SOLE   49,900 0 0
FORD MTR CO DEL COM PAR $0.01 345370860 3,322 196,900 SH   SOLE   196,900 0 0
FORESTAR GROUP INC COM 346233109 4,629 215,000 SH   SOLE   215,000 0 0
FREEPORT-MCMORAN COPPER & GOLD COM 35671D857 4,026 121,700 SH   SOLE   121,700 0 0
FULTON FINL CORP PA COM 360271100 4,263 365,000 SH   SOLE   365,000 0 0
GAP INC DEL COM 364760108 2,078 51,600 SH   SOLE   51,600 0 0
GAS NAT INC COM 367204104 509 49,943 SH   SOLE   49,943 0 0
GENERAL DYNAMICS CORP COM 369550108 5,496 62,800 SH   SOLE   62,800 0 0
GENERAL ELECTRIC CO COM 369604103 7,081 296,400 SH   SOLE   296,400 0 0
GENERAL MLS INC COM 370334104 2,914 60,800 SH   SOLE   60,800 0 0
GENESIS ENERGY L P UNIT LTD PARTN 371927104 4,862 97,100 SH   SOLE   97,100 0 0
GENWORTH FINL INC COM CL A 37247D106 14,482 1,132,300 SH   SOLE   1,132,300 0 0
GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 2,815 56,100 SH   SOLE   56,100 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 2,848 18,000 SH   SOLE   18,000 0 0
GOODYEAR TIRE & RUBR CO COM 382550101 6,546 291,600 SH   SOLE   291,600 0 0
GRAMERCY PPTY TR INC COM 38489R100 1,536 370,000 SH   SOLE   370,000 0 0
GREEN DOT CORP CL A 39304D102 3,555 135,000 SH   SOLE   135,000 0 0
HALLIBURTON CO COM 406216101 2,335 48,500 SH   SOLE   48,500 0 0
HANESBRANDS INC COM 410345102 6,499 104,300 SH   SOLE   104,300 0 0
HCA HOLDINGS INC COM 40412C101 2,253 52,700 SH   SOLE   52,700 0 0
HEARTLAND PMT SYS INC COM 42235N108 2,780 70,000 SH   SOLE   70,000 0 0
HELMERICH & PAYNE INC COM 423452101 2,069 30,000 SH   SOLE   30,000 0 0
HERTZ GLOBAL HOLDINGS INC COM 42805T105 4,917 221,900 SH   SOLE   221,900 0 0
HEWLETT PACKARD CO COM 428236103 1,551 73,950 SH   SOLE   73,950 0 0
HINGHAM INSTN SVGS MASS COM 433323102 6,572 94,000 SH   SOLE   94,000 0 0
HOLLYFRONTIER CORP COM 436106108 1,512 35,900 SH   SOLE   35,900 0 0
HOME DEPOT INC COM 437076102 4,862 64,100 SH   SOLE   64,100 0 0
HOME LN SERVICING SOLUTIONS ORD SHS G6648D109 5,062 230,000 SH   SOLE   230,000 0 0
HOMESTREET INC COM 43785V102 8,589 445,000 SH   SOLE   445,000 0 0
HSBC HLDGS PLC SPON ADR NEW 404280406 2,447 45,100 SH   SOLE   45,100 0 0
HUNTINGTON BANCSHARES INC COM 446150104 2,891 350,000 SH   SOLE   350,000 0 0
HUNTINGTON INGALLS INDS INC COM 446413106 6,585 97,700 SH   SOLE   97,700 0 0
ILLUMINA INC COM 452327109 232 2,873 SH   SOLE   2,873 0 0
INDEPENDENT BANK CORP MASS COM 453836108 1,250 35,000 SH   SOLE   35,000 0 0
INDEPENDENT BANK CORP MICH COM NEW 453838609 1,360 136,000 SH   SOLE   136,000 0 0
INNERWORKINGS INC COM 45773Y105 3,076 313,265 SH   SOLE   313,265 0 0
INNOSPEC INC COM 45768S105 4,909 105,200 SH   SOLE   105,200 0 0
INTEGRYS ENERGY GROUP INC COM 45822P105 15,313 273,988 SH   SOLE   273,988 0 0
INTEL CORP COM 458140100 10,631 463,850 SH   SOLE   463,850 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 1,574 8,500 SH   SOLE   8,500 0 0
INTL PAPER CO COM 460146103 2,710 60,500 SH   SOLE   60,500 0 0
INVESTORS BANCORP INC COM 46146P102 2,844 130,000 SH   SOLE   130,000 0 0
ITT CORP NEW COM 450911201 6,511 181,100 SH   SOLE   181,100 0 0
JARDEN CORP COM 471109108 5,237 108,200 SH   SOLE   108,200 0 0
JOHNSON & JOHNSON COM 478160104 6,580 75,900 SH   SOLE   75,900 0 0
JOY GLOBAL INC COM 481165108 1,373 26,900 SH   SOLE   26,900 0 0
JPMORGAN CHASE & CO. COM 46625H100 4,799 92,850 SH   SOLE   92,850 0 0
KB HOME COM 48666K109 5,226 290,000 SH   SOLE   290,000 0 0
KELLOGG CO COM 487836108 2,567 43,700 SH   SOLE   43,700 0 0
KEYCORP NEW COM 493267108 1,767 155,000 SH   SOLE   155,000 0 0
KIMBERLY CLARK CORP COM 494368103 2,685 28,500 SH   SOLE   28,500 0 0
KINDER MORGAN INC DEL COM 49456B101 53,754 1,511,225 SH   SOLE   1,511,225 0 0
KKR FINL HLDGS LLC COM 48248A306 6,301 610,000 SH   SOLE   610,000 0 0
KLA-TENCOR CORP COM 482480100 2,124 34,900 SH   SOLE   34,900 0 0
KOHLS CORP COM 500255104 1,915 37,000 SH   SOLE   37,000 0 0
KRAFT FOODS GROUP INC COM 50076Q106 2,965 56,534 SH   SOLE   56,534 0 0
KROGER CO COM 501044101 2,489 61,700 SH   SOLE   61,700 0 0
LACLEDE GROUP INC COM 505597104 9,667 214,833 SH   SOLE   214,833 0 0
LEAR CORP COM NEW 521865204 6,520 91,100 SH   SOLE   91,100 0 0
LENNOX INTL INC COM 526107107 5,486 72,900 SH   SOLE   72,900 0 0
LILLY ELI & CO COM 532457108 4,077 81,000 SH   SOLE   81,000 0 0
LINKEDIN CORP COM CL A 53578A108 239 970 SH   SOLE   970 0 0
LITHIA MTRS INC CL A 536797103 14,067 192,800 SH   SOLE   192,800 0 0
LOCKHEED MARTIN CORP COM 539830109 6,059 47,500 SH   SOLE   47,500 0 0
LOWES COS INC COM 548661107 5,266 110,600 SH   SOLE   110,600 0 0
MARATHON OIL CORP COM 565849106 1,877 53,800 SH   SOLE   53,800 0 0
MARATHON PETE CORP COM 56585A102 1,692 26,300 SH   SOLE   26,300 0 0
MASTERCARD INC CL A 57636Q104 3,835 5,700 SH   SOLE   5,700 0 0
MBIA INC COM 55262C100 5,831 570,000 SH   SOLE   570,000 0 0
MCDONALDS CORP COM 580135101 8,260 85,850 SH   SOLE   85,850 0 0
MDU RES GROUP INC COM 552690109 12,576 449,607 SH   SOLE   449,607 0 0
MERCK & CO INC NEW COM 58933Y105 9,060 190,300 SH   SOLE   190,300 0 0
METLIFE INC COM 59156R108 3,803 81,000 SH   SOLE   81,000 0 0
MGE ENERGY INC COM 55277P104 1,310 24,017 SH   SOLE   24,017 0 0
MGIC INVT CORP WIS COM 552848103 8,641 1,187,000 SH   SOLE   1,187,000 0 0
MICROCHIP TECHNOLOGY INC COM 595017104 214 5,300 SH   SOLE   5,300 0 0
MICROSOFT CORP COM 594918104 4,673 140,300 SH   SOLE   140,300 0 0
MOHAWK INDS INC COM 608190104 5,236 40,200 SH   SOLE   40,200 0 0
MORGAN STANLEY COM NEW 617446448 3,773 140,000 SH   SOLE   140,000 0 0
MWI VETERINARY SUPPLY INC COM 55402X105 5,168 34,600 SH   SOLE   34,600 0 0
NATIONAL BK HLDGS CORP CL A 633707104 2,670 130,000 SH   SOLE   130,000 0 0
NATIONAL FUEL GAS CO N J COM 636180101 22,603 328,724 SH   SOLE   328,724 0 0
NATIONAL GRID PLC SPON ADR NEW 636274300 53,836 911,698 SH   SOLE   911,698 0 0
NATIONSTAR MTG HLDGS INC COM 63861C109 10,403 185,000 SH   SOLE   185,000 0 0
NETFLIX INC COM 64110L106 238 770 SH   SOLE   770 0 0
NETSUITE INC COM 64118Q107 216 2,000 SH   SOLE   2,000 0 0
NEW JERSEY RES COM 646025106 9,477 215,142 SH   SOLE   215,142 0 0
NEWMONT MINING CORP COM 651639106 1,647 58,600 SH   SOLE   58,600 0 0
NISOURCE INC COM 65473P105 41,659 1,348,631 SH   SOLE   1,348,631 0 0
NORDSTROM INC COM 655664100 1,753 31,200 SH   SOLE   31,200 0 0
NORFOLK SOUTHERN CORP COM 655844108 2,846 36,800 SH   SOLE   36,800 0 0
NORTHEAST UTILS COM 664397106 5,258 127,475 SH   SOLE   127,475 0 0
NORTHSTAR RLTY FIN CORP COM 66704R100 7,238 780,000 SH   SOLE   780,000 0 0
NORTHWEST NAT GAS CO COM 667655104 7,202 171,564 SH   SOLE   171,564 0 0
NORTHWESTERN CORP COM NEW 668074305 3,611 80,398 SH   SOLE   80,398 0 0
NUCOR CORP COM 670346105 2,676 54,600 SH   SOLE   54,600 0 0
NV ENERGY INC COM 67073Y106 1,000 42,350 SH   SOLE   42,350 0 0
OCEANFIRST FINL CORP COM 675234108 3,896 230,400 SH   SOLE   230,400 0 0
OCWEN FINL CORP COM NEW 675746309 9,760 175,000 SH   SOLE   175,000 0 0
OMNICARE INC COM 681904108 6,643 119,700 SH   SOLE   119,700 0 0
ONEOK INC NEW COM 682680103 48,858 916,315 SH   SOLE   916,315 0 0
OPPENHEIMER HLDGS INC CL A NON VOTING 683797104 1,056 59,406 SH   SOLE   59,406 0 0
OSHKOSH CORP COM 688239201 6,637 135,500 SH   SOLE   135,500 0 0
PACCAR INC COM 693718108 2,059 37,000 SH   SOLE   37,000 0 0
PAPA JOHNS INTL INC COM 698813102 5,486 78,500 SH   SOLE   78,500 0 0
PARKER HANNIFIN CORP COM 701094104 2,120 19,500 SH   SOLE   19,500 0 0
PENNYMAC MTG INVT TR COM 70931T103 5,670 250,000 SH   SOLE   250,000 0 0
PEPCO HOLDINGS INC COM 713291102 1,063 57,604 SH   SOLE   57,604 0 0
PEPSICO INC COM 713448108 2,806 35,300 SH   SOLE   35,300 0 0
PFIZER INC COM 717081103 8,787 306,050 SH   SOLE   306,050 0 0
PG&E CORP COM 69331C108 30,600 747,799 SH   SOLE   747,799 0 0
PHH CORP COM NEW 693320202 7,953 335,000 SH   SOLE   335,000 0 0
PHILIP MORRIS INTL INC COM 718172109 2,520 29,100 SH   SOLE   29,100 0 0
PIEDMONT NAT GAS INC COM 720186105 17,182 522,566 SH   SOLE   522,566 0 0
PIER 1 IMPORTS INC COM 720279108 3,756 192,400 SH   SOLE   192,400 0 0
PILGRIMS PRIDE CORP NEW COM 72147K108 6,585 392,200 SH   SOLE   392,200 0 0
PIPER JAFFRAY COS COM 724078100 343 10,000 SH   SOLE   10,000 0 0
PNC FINL SVCS GROUP INC COM 693475105 3,912 54,000 SH   SOLE   54,000 0 0
POPULAR INC COM NEW 733174700 8,262 315,000 SH   SOLE   315,000 0 0
PORTFOLIO RECOVERY ASSOCS INC COM 73640Q105 2,338 39,000 SH   SOLE   39,000 0 0
PPL CORP COM 69351T106 13,824 455,035 SH   SOLE   455,035 0 0
PRICELINE COM INC COM NEW 741503403 243 240 SH   SOLE   240 0 0
PRIVATEBANCORP INC COM 742962103 1,305 61,000 SH   SOLE   61,000 0 0
PROCTER & GAMBLE CO COM 742718109 5,851 77,400 SH   SOLE   77,400 0 0
PROVIDENT FINL SVCS INC COM 74386T105 3,161 195,000 SH   SOLE   195,000 0 0
PRUDENTIAL FINL INC COM 744320102 3,275 42,000 SH   SOLE   42,000 0 0
PUBLIC SVC ENTERPRISE GROUP COM 744573106 21,892 664,790 SH   SOLE   664,790 0 0
PVH CORP COM 693656100 4,285 36,100 SH   SOLE   36,100 0 0
QUESTAR CORP COM 748356102 21,346 949,115 SH   SOLE   949,115 0 0
RADIAN GROUP INC COM 750236101 8,079 580,000 SH   SOLE   580,000 0 0
RAIT FINANCIAL TRUST COM NEW 749227609 5,239 740,000 SH   SOLE   740,000 0 0
RAYTHEON CO COM NEW 755111507 5,934 77,000 SH   SOLE   77,000 0 0
REGIONS FINL CORP NEW COM 7591EP100 3,750 405,000 SH   SOLE   405,000 0 0
RGC RES INC COM 74955L103 614 33,310 SH   SOLE   33,310 0 0
ROCKVILLE FINL INC NEW COM 774188106 2,990 230,000 SH   SOLE   230,000 0 0
ROCKWELL COLLINS INC COM 774341101 1,948 28,700 SH   SOLE   28,700 0 0
ROYAL DUTCH SHELL PLC SPONSORED ADR 780259107 2,424 35,200 SH   SOLE   35,200 0 0
SAFEWAY INC COM NEW 786514208 6,478 202,500 SH   SOLE   202,500 0 0
SALESFORCE COM INC COM 79466L302 241 4,650 SH   SOLE   4,650 0 0
SANDISK CORP COM 80004C101 239 4,020 SH   SOLE   4,020 0 0
SCANA CORP NEW COM 80589M102 8,124 176,466 SH   SOLE   176,466 0 0
SCHULMAN A INC COM 808194104 3,971 134,800 SH   SOLE   134,800 0 0
SEMPRA ENERGY COM 816851109 53,024 619,440 SH   SOLE   619,440 0 0
SERVICE CORP INTL COM 817565104 5,132 275,600 SH   SOLE   275,600 0 0
SKECHERS U S A INC CL A 830566105 6,757 217,200 SH   SOLE   217,200 0 0
SOUTH JERSEY INDS INC COM 838518108 8,698 148,485 SH   SOLE   148,485 0 0
SOUTHWEST GAS CORP COM 844895102 15,321 306,423 SH   SOLE   306,423 0 0
SPECTRA ENERGY CORP COM 847560109 54,549 1,593,615 SH   SOLE   1,593,615 0 0
STEELCASE INC CL A 858155203 5,395 324,600 SH   SOLE   324,600 0 0
STEPAN CO COM 858586100 4,006 69,400 SH   SOLE   69,400 0 0
STERLING FINL CORP WASH COM NEW 859319303 8,165 285,000 SH   SOLE   285,000 0 0
STEWART INFORMATION SVCS CORP COM 860372101 5,240 163,800 SH   SOLE   163,800 0 0
SUNPOWER CORP COM 867652406 6,773 258,900 SH   SOLE   258,900 0 0
SUNTRUST BKS INC COM 867914103 4,117 127,000 SH   SOLE   127,000 0 0
SUSQUEHANNA BANCSHARES INC COM 869099101 1,318 105,000 SH   SOLE   105,000 0 0
SWIFT TRANSN CO CL A 87074U101 6,705 332,100 SH   SOLE   332,100 0 0
SYNOVUS FINL CORP COM 87161C105 7,689 2,330,000 SH   SOLE   2,330,000 0 0
SYSCO CORP COM 871829107 2,543 79,900 SH   SOLE   79,900 0 0
TARGA RES CORP COM 87612G101 5,034 69,000 SH   SOLE   69,000 0 0
TCF FINL CORP COM 872275102 1,785 125,000 SH   SOLE   125,000 0 0
TEAM INC COM 878155100 3,824 96,200 SH   SOLE   96,200 0 0
TECO ENERGY INC COM 872375100 3,419 206,736 SH   SOLE   206,736 0 0
TENNECO INC COM 880349105 6,555 129,800 SH   SOLE   129,800 0 0
TEREX CORP NEW COM 880779103 4,166 124,000 SH   SOLE   124,000 0 0
TERRITORIAL BANCORP INC COM 88145X108 2,307 105,000 SH   SOLE   105,000 0 0
3M CO COM 88579Y101 2,102 17,600 SH   SOLE   17,600 0 0
TIME WARNER CABLE INC COM 88732J207 3,169 28,400 SH   SOLE   28,400 0 0
TORO CO COM 891092108 5,136 94,500 SH   SOLE   94,500 0 0
TOTAL S A SPONSORED ADR 89151E109 2,705 46,700 SH   SOLE   46,700 0 0
TRANSCANADA CORP COM 89353D107 53,379 1,214,827 SH   SOLE   1,214,827 0 0
TRAVELERS COMPANIES INC COM 89417E109 3,391 40,000 SH   SOLE   40,000 0 0
TRIMAS CORP COM NEW 896215209 5,188 139,100 SH   SOLE   139,100 0 0
TRIPADVISOR INC COM 896945201 239 3,145 SH   SOLE   3,145 0 0
U S G CORP COM NEW 903293405 4,064 142,200 SH   SOLE   142,200 0 0
UGI CORP NEW COM NEW 902681105 6,434 164,435 SH   SOLE   164,435 0 0
UIL HLDG CORP COM 902748102 5,184 139,433 SH   SOLE   139,433 0 0
UNIFIRST CORP MASS COM 904708104 5,367 51,400 SH   SOLE   51,400 0 0
UNILEVER N V NY SHS NEW 904784709 2,373 62,900 SH   SOLE   62,900 0 0
UNILEVER PLC SPON ADR NEW 904767704 2,415 62,600 SH   SOLE   62,600 0 0
UNION PAC CORP COM 907818108 2,019 13,000 SH   SOLE   13,000 0 0
UNITED FINANCIAL BANCORP INC COM 91030T109 3,158 195,294 SH   SOLE   195,294 0 0
UNITED PARCEL SERVICE INC CL B 911312106 2,933 32,100 SH   SOLE   32,100 0 0
UNITEDHEALTH GROUP INC COM 91324P102 2,141 29,900 SH   SOLE   29,900 0 0
UNITIL CORP COM 913259107 1,567 53,523 SH   SOLE   53,523 0 0
UNIVERSAL HLTH SVCS INC CL B 913903100 6,652 88,700 SH   SOLE   88,700 0 0
UNS ENERGY CORP COM 903119105 787 16,880 SH   SOLE   16,880 0 0
URS CORP NEW COM 903236107 6,391 118,900 SH   SOLE   118,900 0 0
US BANCORP DEL COM NEW 902973304 2,012 55,000 SH   SOLE   55,000 0 0
VALMONT INDS INC COM 920253101 3,778 27,200 SH   SOLE   27,200 0 0
VECTREN CORP COM 92240G101 6,967 208,916 SH   SOLE   208,916 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 8,669 185,800 SH   SOLE   185,800 0 0
VIACOM INC NEW CL B 92553P201 2,549 30,500 SH   SOLE   30,500 0 0
VISA INC CL A 92826C839 4,013 21,000 SH   SOLE   21,000 0 0
VISTEON CORP COM NEW 92839U206 6,573 86,900 SH   SOLE   86,900 0 0
WALTER INVT MGMT CORP COM 93317W102 8,699 220,000 SH   SOLE   220,000 0 0
WASHINGTON FED INC COM 938824109 5,584 270,000 SH   SOLE   270,000 0 0
WASTE MGMT INC DEL COM 94106L109 2,912 70,600 SH   SOLE   70,600 0 0
WELLS FARGO & CO NEW COM 949746101 5,496 133,000 SH   SOLE   133,000 0 0
WENDYS CO COM 95058W100 6,597 778,000 SH   SOLE   778,000 0 0
WESTERN DIGITAL CORP COM 958102105 2,726 43,000 SH   SOLE   43,000 0 0
WESTERN UN CO COM 959802109 2,290 122,700 SH   SOLE   122,700 0 0
WGL HLDGS INC COM 92924F106 13,090 306,487 SH   SOLE   306,487 0 0
WILLIAMS COS INC DEL COM 969457100 48,861 1,343,825 SH   SOLE   1,343,825 0 0
WINTRUST FINL CORP COM 97650W108 7,598 185,000 SH   SOLE   185,000 0 0
WISCONSIN ENERGY CORP COM 976657106 7,166 177,460 SH   SOLE   177,460 0 0
WORTHINGTON INDS INC COM 981811102 5,144 149,400 SH   SOLE   149,400 0 0
WSFS FINL CORP COM 929328102 3,013 50,000 SH   SOLE   50,000 0 0
XCEL ENERGY INC COM 98389B100 10,185 368,899 SH   SOLE   368,899 0 0