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
ALCOA INC COM 013817101 124,084 12,571,856 SH   SOLE 0 5,433,646 0 7,138,210
AHOLD NV-ADR COM 500467105 155,203 7,343,417 SH   SOLE 0 2,843,794 0 4,499,623
ALBEMARLE CORP COM 012653101 784 13,992 SH   SOLE 0 13,992 0 0
ALERIAN MLP COM 46625H365 3,057 105,520 SH   SOLE 0 105,520 0 0
APACHE CORP COM 037411105 165 3,700 SH   SOLE 0 3,700 0 0
ALLEGHENY TECHNOLOGIES COM 01741R102 67,248 5,977,635 SH   SOLE 0 2,361,006 0 3,616,629
BIG LOTS INC COM 089302103 113,137 2,935,583 SH   SOLE 0 1,177,504 0 1,758,079
BALL CORP COM 058498106 102,659 1,411,503 SH   SOLE 0 588,967 0 822,536
CONAGRA FOODS INC COM 205887102 194,813 4,620,810 SH   SOLE 0 1,876,680 0 2,744,130
CALERES INC COM 129500104 1,057 39,407 SH   SOLE 0 39,407 0 0
AVIS BUDGET GROUP COM 053774105 2,954 81,410 SH   SOLE 0 81,410 0 0
CROWN HOLDINGS INC COM 228368106 171,739 3,387,361 SH   SOLE 0 1,370,158 0 2,017,203
COLUMBIA PIPELINE GROUP COM 198280109 878 43,912 SH   SOLE 0 43,912 0 0
DOMINION RESOURCES INC COM 25746U109 199,908 2,955,467 SH   SOLE 0 1,176,160 0 1,779,307
DOW CHEMICAL CO COM 260543103 143,609 2,789,615 SH   SOLE 0 1,068,304 0 1,721,311
DEVON ENERGY COM 25179M103 105,026 3,282,052 SH   SOLE 0 1,252,332 0 2,029,720
EMERSON ELECTRIC COM 291011104 96,490 2,017,350 SH   SOLE 0 791,130 0 1,226,220
FREEPORT-McMORAN COM 35671D857 55,132 8,143,600 SH   SOLE 0 3,173,160 0 4,970,440
SPX FLOW INC COM 78469X107 66,902 2,397,075 SH   SOLE 0 963,636 0 1,433,439
FMC CORP COM 302491303 110,010 2,811,399 SH   SOLE 0 1,138,133 0 1,673,266
HALLIBURTON COMP COM 406216101 851 25,010 SH   SOLE 0 25,010 0 0
HD SUPPLY HOLDINGS COM 40416M105 169,887 5,657,256 SH   SOLE 0 2,277,979 0 3,379,277
HEALTHSOUTH CORP COM 421924309 819 23,518 SH   SOLE 0 23,518 0 0
HARRIS CORPORATION COM 413875105 514 5,919 SH   SOLE 0 5,919 0 0
HERTZ GLOBAL HOLDINGS INC COM 42805T105 145,330 10,212,950 SH   SOLE 0 3,970,880 0 6,242,070
INTERNATIONAL PAPER COM 460146103 130,333 3,457,111 SH   SOLE 0 1,416,007 0 2,041,104
ITT CORP COM 450911201 1,060 29,192 SH   SOLE 0 29,192 0 0
KINDER MORGAN COM 49456B101 57 3,816 SH   SOLE 0 3,816 0 0
MATTEL INC COM 577081102 105,586 3,886,140 SH   SOLE 0 1,598,960 0 2,287,180
MARTIN MARIETTA COM 573284106 1,212 8,871 SH   SOLE 0 8,871 0 0
NABORS INDUSTRIES COM G6359F103 81,330 9,557,014 SH   SOLE 0 4,036,437 0 5,520,577
NATIONAL FUEL GAS COM 636180101 947 22,149 SH   SOLE 0 22,149 0 0
NISOURCE INC COM 65473P105 1,470 75,338 SH   SOLE 0 75,338 0 0
OWENS CORNING COM 690742101 172,622 3,670,471 SH   SOLE 0 1,464,178 0 2,206,293
OWENS ILLINOIS COM 690768403 120,134 6,896,310 SH   SOLE 0 2,777,023 0 4,119,287
ONEOK INC COM 682680103 122,280 4,958,631 SH   SOLE 0 1,955,136 0 3,003,495
OCCIDENTAL PETROLEUM COM 674599105 143,253 2,118,811 SH   SOLE 0 845,641 0 1,273,170
PACKAGING CORP OF AMERICA COM 695156109 37 580 SH   SOLE 0 580 0 0
REPUBLIC SERVICES INC COM 760759100 197,154 4,481,784 SH   SOLE 0 1,731,310 0 2,750,474
RAYTHEON COM 755111507 208,881 1,677,356 SH   SOLE 0 652,236 0 1,025,120
SEALED AIR CORP COM 81211K100 83,949 1,882,254 SH   SOLE 0 782,294 0 1,099,960
SPX CORP COM 784635104 502 53,770 SH   SOLE 0 53,770 0 0
QUESTAR CORP COM 748356102 1,168 59,969 SH   SOLE 0 59,969 0 0
CARROLS RESTAURANT GROUP COM 14574X104 28 2,400 SH   SOLE 0 2,400 0 0
TELEDYNE TECHNOLOGIES COM 879360105 32 360 SH   SOLE 0 360 0 0
TARGET CORP COM 87612E106 176,480 2,430,526 SH   SOLE 0 972,050 0 1,458,476
TJX COMPANIES COM 872540109 190,362 2,684,553 SH   SOLE 0 1,032,245 0 1,652,308
TRINITY IND COM 896522109 36 1,510 SH   SOLE 0 1,510 0 0
USG CORP COM 903293405 120,572 4,963,868 SH   SOLE 0 2,009,785 0 2,954,083
VALSPAR CORP COM 920355104 1,011 12,186 SH   SOLE 0 12,186 0 0
WASTE CONNECTIONS INC COM 941053100 1,686 29,940 SH   SOLE 0 29,940 0 0
WEYERHAEUSER CO COM 962166104 182,291 6,080,426 SH   SOLE 0 2,386,001 0 3,694,425