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
ABB LTD ADR COM 000375204 100,228 4,064,400 SH   SOLE 0 1,665,300 0 2,399,100
ALLEGHENY TECHNOLOGIES COM 01741R102 547 5,500 SH   SOLE 0 5,500 0 0
ATMOS ENERGY CP COM 049560105 1,869 66,500 SH   SOLE 0 60,700 0 5,800
ALLIED WASTE COM 019589308 132,405 10,368,450 SH   SOLE 0 4,679,000 0 5,689,450
BRUNSWICK CORP COM 117043109 340 13,500 SH   SOLE 0 13,500 0 0
BIG LOTS INC COM 089302103 104,777 3,519,550 SH   SOLE 0 1,565,550 0 1,954,000
BALL CORP COM 058498106 138,385 2,641,950 SH   SOLE 0 1,024,750 0 1,617,200
CROWN HOLDINGS INC COM 228368106 158,871 6,614,100 SH   SOLE 0 2,579,850 0 4,034,250
CON-WAY INC COM 205944101 89,758 1,851,450 SH   SOLE 0 832,550 0 1,018,900
CHIQUITA BRANDS COM 170032809 164 10,500 SH   SOLE 0 10,500 0 0
DOMINION RESOURCES INC COM 25746U109 136,646 1,604,200 SH   SOLE 0 605,150 0 999,050
DEL MONTE FOODS COM 24522P103 97,103 9,212,800 SH   SOLE 0 4,092,150 0 5,120,650
DUKE ENERGY CORP NEW COM 26441C105 156,184 8,516,054 SH   SOLE 0 3,748,422 0 4,767,632
DYNEGY INC COM 26817G300 125,499 15,512,798 SH   SOLE 0 6,845,700 0 8,667,098
FOOT LOCKER INC COM 344849104 134,525 8,050,542 SH   SOLE 0 3,696,550 0 4,353,992
HOME DEPOT INC COM 437076102 114,897 2,999,150 SH   SOLE 0 1,311,250 0 1,687,900
HERCULES INC COM 427056106 142,301 6,834,828 SH   SOLE 0 3,100,950 0 3,733,878
PENNEY J.C. COM 708160106 156,137 2,270,750 SH   SOLE 0 1,128,850 0 1,141,900
LAIDLAW INTL INC COM 50730R102 52,650 1,519,050 SH   SOLE 0 471,150 0 1,047,900
LIMITED BRANDS COM 532716107 128,357 5,542,200 SH   SOLE 0 2,751,500 0 2,790,700
MASCO CORP COM 574599106 46,065 1,770,350 SH   SOLE 0 800,850 0 969,500
MIRANT CORP COM 60467R100 149,801 3,844,000 SH   SOLE 0 1,590,600 0 2,253,400
NOVA CHEMICALS COM 66977W109 76,627 2,115,600 SH   SOLE 0 1,026,600 0 1,089,000
OWENS CORNING COM 690742101 74,477 2,983,850 SH   SOLE 0 1,340,150 0 1,643,700
OWENS ILLINOIS COM 690768403 161,403 4,013,000 SH   SOLE 0 1,668,700 0 2,344,300
ONEOK INC COM 682680103 146,978 3,137,200 SH   SOLE 0 1,191,600 0 1,945,600
PACKAGING CORP OF AMERICA COM 695156109 105,138 4,036,000 SH   SOLE 0 1,884,100 0 2,151,900
PACTIV CORP COM 695257105 345 11,800 SH   SOLE 0 11,800 0 0
RITE AID COM 767754104 1,691 333,600 SH   SOLE 0 333,600 0 0
RAYTHEON COM 755111507 140,834 2,295,950 SH   SOLE 0 943,050 0 1,352,900
SPECTRA ENERGY COM 847560109 149,126 6,414,002 SH   SOLE 0 3,306,236 0 3,107,766
SAFEWAY INC. COM 786514208 139,618 4,400,200 SH   SOLE 0 2,088,800 0 2,311,400
TELEDYNE TECHNOLOGIES COM 879360105 454 9,100 SH   SOLE 0 9,100 0 0
TENNECO AUTOMOTIVE INC COM 880349105 343 10,800 SH   SOLE 0 10,800 0 0
THOMAS & BETTS COM 884315102 87,367 1,577,300 SH   SOLE 0 691,700 0 885,600
TRINITY IND COM 896522109 451 12,000 SH   SOLE 0 12,000 0 0
TRW AUTOMOTIVE HLDGS CORP COM 87264S106 306 10,000 SH   SOLE 0 10,000 0 0
USG CORP COM 903293405 42,619 1,103,550 SH   SOLE 0 491,850 0 611,700
VALSPAR CORP COM 920355104 173 6,400 SH   SOLE 0 6,400 0 0
WABCO HOLDINGS COM 92927K102 39,947 882,608 SH   SOLE 0 408,193 0 474,415
ALLEGHANY CORP COM 017175100 89,019 229,290 SH   SOLE 0 96,821 0 132,469