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
ABBVIE INC COM 00287Y109 3,369 59,700 SH   SOLE   59,700 0 0
ACETO CORP COM 004446100 4,435 244,484 SH   SOLE   244,484 0 0
ADVANCE AUTO PARTS INC COM 00751Y106 4,938 36,600 SH   SOLE   36,600 0 0
AGL RES INC COM 001204106 57,529 1,045,416 SH   SOLE   1,045,416 0 0
AK STL HLDG CORP COM 001547108 5,367 674,200 SH   SOLE   674,200 0 0
ALASKA AIR GROUP INC COM 011659109 17,090 179,800 SH   SOLE   179,800 0 0
ALERE INC COM 01449J105 4,891 130,700 SH   SOLE   130,700 0 0
ALLIANT ENERGY CORP COM 018802108 5,943 97,654 SH   SOLE   97,654 0 0
ALTRIA GROUP INC COM 02209S103 5,976 142,500 SH   SOLE   142,500 0 0
AMEREN CORP COM 023608102 8,866 216,890 SH   SOLE   216,890 0 0
AMERICAN AXLE & MFG HLDGS INC COM 024061103 7,392 391,300 SH   SOLE   391,300 0 0
AMERICAN EQTY INVT LIFE HLD CO COM 025676206 9,006 366,100 SH   SOLE   366,100 0 0
AMERICAN INTL GROUP INC COM NEW 026874784 4,639 85,000 SH   SOLE   85,000 0 0
AMTRUST FINL SVCS INC COM 032359309 8,291 198,300 SH   SOLE   198,300 0 0
APPLE INC COM 037833100 2,700 29,050 SH   SOLE   29,050 0 0
APPLIED MATLS INC COM 038222105 260 11,520 SH   SOLE   11,520 0 0
ASSOCIATED BANC CORP COM 045487105 7,955 440,000 SH   SOLE   440,000 0 0
ASTORIA FINL CORP COM 046265104 10,088 750,000 SH   SOLE   750,000 0 0
AT&T INC COM 00206R102 9,683 273,850 SH   SOLE   273,850 0 0
ATMOS ENERGY CORP COM 049560105 58,871 1,102,462 SH   SOLE   1,102,462 0 0
AUTOZONE INC COM 053332102 2,520 4,700 SH   SOLE   4,700 0 0
AVIS BUDGET GROUP COM 053774105 14,147 237,000 SH   SOLE   237,000 0 0
AVISTA CORP COM 05379B107 4,390 130,972 SH   SOLE   130,972 0 0
BANCO SANTANDER SA ADR 05964H105 3,524 338,200 SH   SOLE   338,200 0 0
BANCORP INC DEL COM 05969A105 5,300 445,000 SH   SOLE   445,000 0 0
BANK MUTUAL CORP NEW COM 063750103 1,363 235,000 SH   SOLE   235,000 0 0
BANK OF AMERICA CORPORATION COM 060505104 4,411 287,000 SH   SOLE   287,000 0 0
BANKUNITED INC COM 06652K103 10,011 299,000 SH   SOLE   299,000 0 0
BANNER CORP COM NEW 06652V208 7,609 192,000 SH   SOLE   192,000 0 0
BAXTER INTL INC COM 071813109 5,413 74,875 SH   SOLE   74,875 0 0
BED BATH & BEYOND INC COM 075896100 1,601 27,900 SH   SOLE   27,900 0 0
BERKSHIRE HATHAWAY INC CL A 084670108 9,115 48 SH   SOLE   48 0 0
BGC PARTNERS INC CL A 05541T101 4,909 659,773 SH   SOLE   659,773 0 0
BIOGEN IDEC INC COM 09062X103 200 635 SH   SOLE   635 0 0
BLACK HILLS CORP COM 092113109 6,443 104,959 SH   SOLE   104,959 0 0
BLACKSTONE GROUP L P COM UNIT LTD 09253U108 4,514 135,000 SH   SOLE   135,000 0 0
BP PLC SPONSORED ADR 055622104 3,234 61,300 SH   SOLE   61,300 0 0
BRISTOL MYERS SQUIBB CO COM 110122108 2,818 58,100 SH   SOLE   58,100 0 0
BRUNSWICK CORP COM 117043109 8,169 193,900 SH   SOLE   193,900 0 0
CAPITAL BK FINL CORP COM 139794101 4,557 193,000 SH   SOLE   193,000 0 0
CAPITAL ONE FINL CORP COM 14040H105 4,956 60,000 SH   SOLE   60,000 0 0
CARMIKE CINEMAS INC COM 143436400 5,667 161,327 SH   SOLE   161,327 0 0
CATERPILLAR INC DEL COM 149123101 2,717 25,000 SH   SOLE   25,000 0 0
CENTERPOINT ENERGY INC COM 15189T107 27,653 1,082,726 SH   SOLE   1,082,726 0 0
CENTURYLINK INC COM 156700106 3,638 100,500 SH   SOLE   100,500 0 0
CF INDS HLDGS INC COM 125269100 2,333 9,700 SH   SOLE   9,700 0 0
CHENIERE ENERGY INC COM NEW 16411R208 103,256 1,440,117 SH   SOLE   1,440,117 0 0
CHESAPEAKE UTILS CORP COM 165303108 6,110 85,663 SH   SOLE   85,663 0 0
CHEVRON CORP NEW COM 166764100 12,487 95,650 SH   SOLE   95,650 0 0
CIENA CORP COM NEW 171779309 6,738 311,100 SH   SOLE   311,100 0 0
CIGNA CORPORATION COM 125509109 5,583 60,700 SH   SOLE   60,700 0 0
CISCO SYS INC COM 17275R102 5,274 212,250 SH   SOLE   212,250 0 0
CIT GROUP INC COM NEW 125581801 3,981 87,000 SH   SOLE   87,000 0 0
CITIGROUP INC COM NEW 172967424 4,522 96,000 SH   SOLE   96,000 0 0
CLIFTON BANCORP INC COM 186873105 2,597 205,000 SH   SOLE   205,000 0 0
CMS ENERGY CORP COM 125896100 27,806 892,648 SH   SOLE   892,648 0 0
CNO FINL GROUP INC COM 12621E103 4,507 253,200 SH   SOLE   253,200 0 0
COACH INC COM 189754104 1,364 39,900 SH   SOLE   39,900 0 0
COCA COLA CO COM 191216100 4,283 101,100 SH   SOLE   101,100 0 0
COMERICA INC COM 200340107 3,210 64,000 SH   SOLE   64,000 0 0
COMPUTER SCIENCES CORP COM 205363104 9,404 148,800 SH   SOLE   148,800 0 0
CONAGRA FOODS INC COM 205887102 2,734 92,100 SH   SOLE   92,100 0 0
CONOCOPHILLIPS COM 20825C104 6,550 76,400 SH   SOLE   76,400 0 0
CONSOLIDATED EDISON INC COM 209115104 30,942 535,886 SH   SOLE   535,886 0 0
CORE MARK HOLDING CO INC COM 218681104 5,464 119,744 SH   SOLE   119,744 0 0
CORNING INC COM 219350105 258 11,775 SH   SOLE   11,775 0 0
CORNING NAT GAS HLDG CORP COM 219387107 506 25,068 SH   SOLE   25,068 0 0
CRACKER BARREL OLD CTRY STORE COM 22410J106 7,478 75,100 SH   SOLE   75,100 0 0
CSG SYS INTL INC COM 126349109 4,491 172,000 SH   SOLE   172,000 0 0
CSX CORP COM 126408103 2,434 79,000 SH   SOLE   79,000 0 0
CUMMINS INC COM 231021106 2,484 16,100 SH   SOLE   16,100 0 0
CURTISS WRIGHT CORP COM 231561101 4,753 72,500 SH   SOLE   72,500 0 0
CUSTOMERS BANCORP INC COM 23204G100 5,173 258,500 SH   SOLE   258,500 0 0
DEERE & CO COM 244199105 2,246 24,800 SH   SOLE   24,800 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 8,681 224,200 SH   SOLE   224,200 0 0
DELTA NAT GAS INC COM 247748106 1,648 75,047 SH   SOLE   75,047 0 0
DISCOVER FINL SVCS COM 254709108 4,339 70,000 SH   SOLE   70,000 0 0
DOLLAR GEN CORP NEW COM 256677105 2,111 36,800 SH   SOLE   36,800 0 0
DOMINION RES INC VA NEW COM 25746U109 99,849 1,396,096 SH   SOLE   1,396,096 0 0
DOW CHEM CO COM 260543103 3,257 63,300 SH   SOLE   63,300 0 0
DTE ENERGY CO COM 233331107 28,419 364,954 SH   SOLE   364,954 0 0
DU PONT E I DE NEMOURS & CO COM 263534109 6,020 92,000 SH   SOLE   92,000 0 0
DUKE ENERGY CORP NEW COM NEW 26441C204 12,415 167,337 SH   SOLE   167,337 0 0
E TRADE FINANCIAL CORP COM NEW 269246401 1,701 80,000 SH   SOLE   80,000 0 0
EMPIRE DIST ELEC CO COM 291641108 722 28,100 SH   SOLE   28,100 0 0
ENBRIDGE INC COM 29250N105 98,963 2,084,747 SH   SOLE   2,084,747 0 0
ENCORE CAP GROUP INC COM 292554102 8,630 190,000 SH   SOLE   190,000 0 0
ENERGEN CORP COM 29265N108 13,598 152,992 SH   SOLE   152,992 0 0
ENERGY TRANSFER EQUITY L P COM UT LTD PTD 29273V100 104,259 1,768,908 SH   SOLE   1,768,908 0 0
ENGILITY HLDGS INC COM 29285W104 4,337 113,346 SH   SOLE   113,346 0 0
ENTERGY CORP NEW COM 29364G103 1,318 16,050 SH   SOLE   16,050 0 0
EQT CORP COM 26884L109 50,214 469,732 SH   SOLE   469,732 0 0
EXELON CORP COM 30161N101 19,658 538,881 SH   SOLE   538,881 0 0
EXTERRAN HLDGS INC COM 30225X103 5,799 128,900 SH   SOLE   128,900 0 0
EXXON MOBIL CORP COM 30231G102 5,437 54,000 SH   SOLE   54,000 0 0
FIFTH THIRD BANCORP COM 316773100 5,017 235,000 SH   SOLE   235,000 0 0
FIRST BANCORP P R COM NEW 318672706 4,597 845,000 SH   SOLE   845,000 0 0
FIRST INTERNET BANCORP COM 320557101 2,976 144,443 SH   SOLE   144,443 0 0
FIRST NIAGARA FINL GP INC COM 33582V108 830 95,000 SH   SOLE   95,000 0 0
FLAGSTAR BANCORP INC COM PAR .001 337930705 6,249 345,244 SH   SOLE   345,244 0 0
FLOWERS FOODS INC COM 343498101 7,509 356,200 SH   SOLE   356,200 0 0
FLUSHING FINL CORP COM 343873105 9,967 485,000 SH   SOLE   485,000 0 0
FORD MTR CO DEL COM PAR $0.01 345370860 5,846 339,100 SH   SOLE   339,100 0 0
FORTRESS INVESTMENT GROUP LLC CL A 34958B106 298 40,000 SH   SOLE   40,000 0 0
FREEPORT-MCMORAN COPPER & GOLD COM 35671D857 3,322 91,000 SH   SOLE   91,000 0 0
FULTON FINL CORP PA COM 360271100 5,328 430,000 SH   SOLE   430,000 0 0
GAP INC DEL COM 364760108 2,361 56,800 SH   SOLE   56,800 0 0
GAS NAT INC COM 367204104 811 76,944 SH   SOLE   76,944 0 0
GENERAL ELECTRIC CO COM 369604103 8,746 332,800 SH   SOLE   332,800 0 0
GENERAL MLS INC COM 370334104 5,564 105,900 SH   SOLE   105,900 0 0
GENERAL MTRS CO COM 37045V100 2,911 80,200 SH   SOLE   80,200 0 0
GENWORTH FINL INC CL A 37247D106 19,986 1,148,600 SH   SOLE   1,148,600 0 0
G-III APPAREL GROUP LTD COM 36237H101 5,610 68,700 SH   SOLE   68,700 0 0
GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 2,963 55,400 SH   SOLE   55,400 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 3,684 22,000 SH   SOLE   22,000 0 0
GOODYEAR TIRE & RUBR CO COM 382550101 14,334 516,000 SH   SOLE   516,000 0 0
GREEN PLAINS INC COM 393222104 6,147 187,000 SH   SOLE   187,000 0 0
HALLIBURTON CO COM 406216101 3,181 44,800 SH   SOLE   44,800 0 0
HANESBRANDS INC COM 410345102 12,167 123,600 SH   SOLE   123,600 0 0
HEWLETT PACKARD CO COM 428236103 7,884 234,100 SH   SOLE   234,100 0 0
HINGHAM INSTN SVGS MASS COM 433323102 7,464 94,000 SH   SOLE   94,000 0 0
HOLLYFRONTIER CORP COM 436106108 1,988 45,500 SH   SOLE   45,500 0 0
HOMESTREET INC COM 43785V102 5,970 325,000 SH   SOLE   325,000 0 0
HUNTINGTON BANCSHARES INC COM 446150104 3,291 345,000 SH   SOLE   345,000 0 0
HUNTINGTON INGALLS INDS INC COM 446413106 15,437 163,200 SH   SOLE   163,200 0 0
ILLINOIS TOOL WKS INC COM 452308109 2,347 26,800 SH   SOLE   26,800 0 0
INDEPENDENT BANK CORP MASS COM 453836108 2,879 75,000 SH   SOLE   75,000 0 0
INDEPENDENT BANK CORP MICH COM NEW 453838609 3,411 265,000 SH   SOLE   265,000 0 0
INTEGRYS ENERGY GROUP INC COM 45822P105 29,625 416,488 SH   SOLE   416,488 0 0
INTEL CORP COM 458140100 14,321 463,450 SH   SOLE   463,450 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 2,175 12,000 SH   SOLE   12,000 0 0
INTL PAPER CO COM 460146103 3,099 61,400 SH   SOLE   61,400 0 0
INVESTORS BANCORP INC NEW COM 46146L101 9,006 815,000 SH   SOLE   815,000 0 0
ITT CORP NEW COM 450911201 10,375 215,700 SH   SOLE   215,700 0 0
JACK IN THE BOX INC COM 466367109 5,254 87,800 SH   SOLE   87,800 0 0
JARDEN CORP COM 471109108 4,594 77,400 SH   SOLE   77,400 0 0
JOHN BEAN TECHNOLOGIES CORP COM 477839104 4,868 157,086 SH   SOLE   157,086 0 0
JOHNSON & JOHNSON COM 478160104 3,411 32,600 SH   SOLE   32,600 0 0
JPMORGAN CHASE & CO. COM 46625H100 7,496 130,100 SH   SOLE   130,100 0 0
KB HOME COM 48666K109 2,428 130,000 SH   SOLE   130,000 0 0
KELLOGG CO COM 487836108 3,265 49,700 SH   SOLE   49,700 0 0
KEYCORP NEW COM 493267108 2,579 180,000 SH   SOLE   180,000 0 0
KIMBERLY CLARK CORP COM 494368103 5,372 48,300 SH   SOLE   48,300 0 0
KINDER MORGAN INC DEL COM 49456B101 98,762 2,723,725 SH   SOLE   2,723,725 0 0
KKR & CO L P DEL COM UNITS 48248M102 4,988 205,000 SH   SOLE   205,000 0 0
KLA-TENCOR CORP COM 482480100 268 3,690 SH   SOLE   3,690 0 0
KRAFT FOODS GROUP INC COM 50076Q106 5,833 97,300 SH   SOLE   97,300 0 0
KROGER CO COM 501044101 2,842 57,500 SH   SOLE   57,500 0 0
L-3 COMMUNICATIONS HLDGS INC COM 502424104 4,927 40,800 SH   SOLE   40,800 0 0
LA Z BOY INC COM 505336107 3,913 168,900 SH   SOLE   168,900 0 0
LACLEDE GROUP INC COM 505597104 16,246 334,633 SH   SOLE   334,633 0 0
LAM RESEARCH CORP COM 512807108 244 3,605 SH   SOLE   3,605 0 0
LEAR CORP COM NEW 521865204 9,620 107,700 SH   SOLE   107,700 0 0
LENNOX INTL INC COM 526107107 4,685 52,300 SH   SOLE   52,300 0 0
LILLY ELI & CO COM 532457108 6,074 97,700 SH   SOLE   97,700 0 0
LITHIA MTRS INC CL A 536797103 9,990 106,200 SH   SOLE   106,200 0 0
LOCKHEED MARTIN CORP COM 539830109 10,174 63,300 SH   SOLE   63,300 0 0
LORILLARD INC COM 544147101 2,750 45,100 SH   SOLE   45,100 0 0
LOWES COS INC COM 548661107 2,203 45,900 SH   SOLE   45,900 0 0
LPL FINL HLDGS INC COM 50212V100 4,258 85,600 SH   SOLE   85,600 0 0
MACYS INC COM 55616P104 2,437 42,000 SH   SOLE   42,000 0 0
MANITOWOC INC COM 563571108 5,274 160,500 SH   SOLE   160,500 0 0
MARATHON OIL CORP COM 565849106 2,599 65,100 SH   SOLE   65,100 0 0
MARATHON PETE CORP COM 56585A102 1,991 25,500 SH   SOLE   25,500 0 0
MASTERCARD INC CL A 57636Q104 3,894 53,000 SH   SOLE   53,000 0 0
MATRIX SVC CO COM 576853105 5,041 153,727 SH   SOLE   153,727 0 0
MBIA INC COM 55262C100 5,906 535,000 SH   SOLE   535,000 0 0
MCDONALDS CORP COM 580135101 11,897 118,100 SH   SOLE   118,100 0 0
MCKESSON CORP COM 58155Q103 261 1,400 SH   SOLE   1,400 0 0
MDC PARTNERS INC CL A SUB VTG 552697104 3,954 183,997 SH   SOLE   183,997 0 0
MDU RES GROUP INC COM 552690109 26,557 756,607 SH   SOLE   756,607 0 0
MERCK & CO INC NEW COM 58933Y105 10,488 181,300 SH   SOLE   181,300 0 0
METLIFE INC COM 59156R108 5,000 90,000 SH   SOLE   90,000 0 0
MGE ENERGY INC COM 55277P104 2,133 53,996 SH   SOLE   53,996 0 0
MGIC INVT CORP WIS COM 552848103 7,022 760,000 SH   SOLE   760,000 0 0
MICROCHIP TECHNOLOGY INC COM 595017104 217 4,449 SH   SOLE   4,449 0 0
MICRON TECHNOLOGY INC COM 595112103 277 8,410 SH   SOLE   8,410 0 0
MICROSOFT CORP COM 594918104 9,076 217,650 SH   SOLE   217,650 0 0
MORGAN STANLEY COM NEW 617446448 4,494 139,000 SH   SOLE   139,000 0 0
MWI VETERINARY SUPPLY INC COM 55402X105 4,146 29,200 SH   SOLE   29,200 0 0
NATIONAL FUEL GAS CO N J COM 636180101 36,748 469,324 SH   SOLE   469,324 0 0
NATIONAL GRID PLC SPON ADR NEW 636274300 97,862 1,315,698 SH   SOLE   1,315,698 0 0
NETFLIX INC COM 64110L106 262 595 SH   SOLE   595 0 0
NEW JERSEY RES COM 646025106 18,614 325,642 SH   SOLE   325,642 0 0
NEW YORK TIMES CO CL A 650111107 4,878 320,700 SH   SOLE   320,700 0 0
NGL ENERGY PARTNERS LP COM UNIT REPST 62913M107 5,560 128,279 SH   SOLE   128,279 0 0
NISOURCE INC COM 65473P105 83,131 2,113,131 SH   SOLE   2,113,131 0 0
NORTHEAST UTILS COM 664397106 16,212 342,975 SH   SOLE   342,975 0 0
NORTHROP GRUMMAN CORP COM 666807102 7,022 58,700 SH   SOLE   58,700 0 0
NORTHSTAR RLTY FIN CORP COM 66704R100 2,433 140,000 SH   SOLE   140,000 0 0
NORTHWEST NAT GAS CO COM 667655104 12,286 260,568 SH   SOLE   260,568 0 0
NORTHWESTERN CORP COM NEW 668074305 6,534 125,198 SH   SOLE   125,198 0 0
NUCOR CORP COM 670346105 2,985 60,600 SH   SOLE   60,600 0 0
OCCIDENTAL PETE CORP DEL COM 674599105 3,325 32,400 SH   SOLE   32,400 0 0
OCEANFIRST FINL CORP COM 675234108 3,567 215,400 SH   SOLE   215,400 0 0
OMNICARE INC COM 681904108 9,326 140,100 SH   SOLE   140,100 0 0
ONE GAS INC COM 68235P108 20,765 550,078 SH   SOLE   550,078 0 0
ONEOK INC NEW COM 682680103 90,928 1,335,598 SH   SOLE   1,335,598 0 0
ORACLE CORP COM 68389X105 2,420 59,700 SH   SOLE   59,700 0 0
OSHKOSH CORP COM 688239201 8,829 159,000 SH   SOLE   159,000 0 0
PACWEST BANCORP DEL COM 695263103 1,079 25,000 SH   SOLE   25,000 0 0
PAPA JOHNS INTL INC COM 698813102 4,052 95,600 SH   SOLE   95,600 0 0
PEPCO HOLDINGS INC COM 713291102 2,635 95,904 SH   SOLE   95,904 0 0
PEPSICO INC COM 713448108 5,655 63,300 SH   SOLE   63,300 0 0
PFIZER INC COM 717081103 8,911 300,250 SH   SOLE   300,250 0 0
PG&E CORP COM 69331C108 61,072 1,271,799 SH   SOLE   1,271,799 0 0
PHILIP MORRIS INTL INC COM 718172109 5,379 63,800 SH   SOLE   63,800 0 0
PIEDMONT NAT GAS INC COM 720186105 31,189 833,707 SH   SOLE   833,707 0 0
PILGRIMS PRIDE CORP NEW COM 72147K108 12,241 447,400 SH   SOLE   447,400 0 0
PLAINS GP HLDGS L P SHS A REP LTPN 72651A108 24,328 760,500 SH   SOLE   760,500 0 0
PNC FINL SVCS GROUP INC COM 693475105 5,076 57,000 SH   SOLE   57,000 0 0
POLYONE CORP COM 73179P106 5,411 128,400 SH   SOLE   128,400 0 0
POPULAR INC COM NEW 733174700 8,135 238,000 SH   SOLE   238,000 0 0
PPL CORP COM 69351T106 4,514 127,035 SH   SOLE   127,035 0 0
PRIMORIS SVCS CORP COM 74164F103 4,055 140,600 SH   SOLE   140,600 0 0
PROCTER & GAMBLE CO COM 742718109 8,276 105,300 SH   SOLE   105,300 0 0
PROVIDENT FINL SVCS INC COM 74386T105 9,526 550,000 SH   SOLE   550,000 0 0
PRUDENTIAL FINL INC COM 744320102 3,995 45,000 SH   SOLE   45,000 0 0
PUBLIC SVC ENTERPRISE GROUP COM 744573106 46,574 1,141,790 SH   SOLE   1,141,790 0 0
QUESTAR CORP COM 748356102 35,628 1,436,615 SH   SOLE   1,436,615 0 0
RADIAN GROUP INC COM 750236101 9,552 645,000 SH   SOLE   645,000 0 0
RAIT FINANCIAL TRUST COM NEW 749227609 2,564 310,000 SH   SOLE   310,000 0 0
RAYTHEON CO COM NEW 755111507 6,808 73,800 SH   SOLE   73,800 0 0
REGIONS FINL CORP NEW COM 7591EP100 4,991 470,000 SH   SOLE   470,000 0 0
RGC RES INC COM 74955L103 945 48,967 SH   SOLE   48,967 0 0
ROYAL DUTCH SHELL PLC SPONSORED ADR 780259107 3,446 39,600 SH   SOLE   39,600 0 0
SALESFORCE COM INC COM 79466L302 262 4,515 SH   SOLE   4,515 0 0
SANDISK CORP COM 80004C101 3,679 35,230 SH   SOLE   35,230 0 0
SCANA CORP NEW COM 80589M102 14,715 273,466 SH   SOLE   273,466 0 0
SCHWAB CHARLES CORP NEW COM 808513105 2,020 75,000 SH   SOLE   75,000 0 0
SEMPRA ENERGY COM 816851109 98,631 941,940 SH   SOLE   941,940 0 0
SERVISFIRST BANCSHARES INC COM 81768T108 2,593 30,000 SH   SOLE   30,000 0 0
SKECHERS U S A INC CL A 830566105 11,617 254,200 SH   SOLE   254,200 0 0
SOUTH JERSEY INDS INC COM 838518108 13,555 224,378 SH   SOLE   224,378 0 0
SOUTHWEST AIRLS CO COM 844741108 5,850 217,800 SH   SOLE   217,800 0 0
SOUTHWEST GAS CORP COM 844895102 25,507 483,178 SH   SOLE   483,178 0 0
SPECTRA ENERGY CORP COM 847560109 98,219 2,312,115 SH   SOLE   2,312,115 0 0
SQUARE 1 FINL INC. CL A 85223W101 2,947 155,000 SH   SOLE   155,000 0 0
STONEGATE MTG CORP COM 86181Q300 6,208 445,000 SH   SOLE   445,000 0 0
SUNPOWER CORP COM 867652406 12,122 295,800 SH   SOLE   295,800 0 0
SUNTRUST BKS INC COM 867914103 5,088 127,000 SH   SOLE   127,000 0 0
SUPER MICRO COMPUTER INC COM 86800U104 5,340 211,300 SH   SOLE   211,300 0 0
SUSQUEHANNA BANCSHARES INC PA COM 869099101 6,442 610,000 SH   SOLE   610,000 0 0
SWIFT TRANSN CO CL A 87074U101 9,701 384,500 SH   SOLE   384,500 0 0
SYNOVUS FINL CORP COM NEW 87161C501 10,274 421,428 SH   SOLE   421,428 0 0
SYSCO CORP COM 871829107 5,400 144,200 SH   SOLE   144,200 0 0
TARGA RES CORP COM 87612G101 6,699 48,000 SH   SOLE   48,000 0 0
TARGET CORP COM 87612E106 2,955 51,000 SH   SOLE   51,000 0 0
TECO ENERGY INC COM 872375100 6,140 332,236 SH   SOLE   332,236 0 0
TENNECO INC COM 880349105 10,072 153,300 SH   SOLE   153,300 0 0
TERRITORIAL BANCORP INC COM 88145X108 2,192 105,000 SH   SOLE   105,000 0 0
TEXAS INSTRS INC COM 882508104 3,254 68,100 SH   SOLE   68,100 0 0
THERMO FISHER SCIENTIFIC INC COM 883556102 252 2,135 SH   SOLE   2,135 0 0
THOMSON REUTERS CORP COM 884903105 2,894 79,600 SH   SOLE   79,600 0 0
3M CO COM 88579Y101 3,266 22,800 SH   SOLE   22,800 0 0
T-MOBILE US INC COM 872590104 268 7,967 SH   SOLE   7,967 0 0
TOTAL S A SPONSORED ADR 89151E109 3,632 50,300 SH   SOLE   50,300 0 0
TRANSCANADA CORP COM 89353D107 98,228 2,058,427 SH   SOLE   2,058,427 0 0
TRAVELERS COMPANIES INC COM 89417E109 4,704 50,000 SH   SOLE   50,000 0 0
TUESDAY MORNING CORP COM NEW 899035505 5,849 328,211 SH   SOLE   328,211 0 0
TYSON FOODS INC CL A 902494103 4,629 123,300 SH   SOLE   123,300 0 0
UGI CORP NEW COM NEW 902681105 13,303 263,435 SH   SOLE   263,435 0 0
UIL HLDG CORP COM 902748102 9,392 242,633 SH   SOLE   242,633 0 0
UMPQUA HLDGS CORP COM 904214103 5,151 287,425 SH   SOLE   287,425 0 0
UNILEVER PLC SPON ADR NEW 904767704 3,371 74,400 SH   SOLE   74,400 0 0
UNION PAC CORP COM 907818108 2,693 27,000 SH   SOLE   27,000 0 0
UNITED CONTL HLDGS INC COM 910047109 4,206 102,400 SH   SOLE   102,400 0 0
UNITED FINL BANCORP INC NEW COM 910304104 5,888 434,512 SH   SOLE   434,512 0 0
UNITED RENTALS INC COM 911363109 5,844 55,800 SH   SOLE   55,800 0 0
UNITED TECHNOLOGIES CORP COM 913017109 2,297 19,900 SH   SOLE   19,900 0 0
UNITEDHEALTH GROUP INC COM 91324P102 2,444 29,900 SH   SOLE   29,900 0 0
UNITIL CORP COM 913259107 2,923 86,404 SH   SOLE   86,404 0 0
UNIVERSAL HLTH SVCS INC CL B 913903100 9,978 104,200 SH   SOLE   104,200 0 0
UNIVERSAL INS HLDGS INC COM 91359V107 5,017 386,800 SH   SOLE   386,800 0 0
UNS ENERGY CORP COM 903119105 1,630 26,980 SH   SOLE   26,980 0 0
URS CORP NEW COM 903236107 6,584 143,600 SH   SOLE   143,600 0 0
US BANCORP DEL COM NEW 902973304 4,332 100,000 SH   SOLE   100,000 0 0
VECTREN CORP COM 92240G101 17,145 403,416 SH   SOLE   403,416 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 9,490 193,950 SH   SOLE   193,950 0 0
VISA INC CL A 92826C839 4,214 20,000 SH   SOLE   20,000 0 0
VISTEON CORP COM NEW 92839U206 15,386 158,600 SH   SOLE   158,600 0 0
WAL-MART STORES INC COM 931142103 2,147 28,600 SH   SOLE   28,600 0 0
WASHINGTON FED INC COM 938824109 10,318 460,000 SH   SOLE   460,000 0 0
WASTE MGMT INC DEL COM 94106L109 3,086 69,000 SH   SOLE   69,000 0 0
WEBSTER FINL CORP CONN COM 947890109 4,573 145,000 SH   SOLE   145,000 0 0
WELLS FARGO & CO NEW COM 949746101 3,627 69,000 SH   SOLE   69,000 0 0
WENDYS CO COM 95058W100 7,722 905,300 SH   SOLE   905,300 0 0
WESTERN DIGITAL CORP COM 958102105 2,492 27,000 SH   SOLE   27,000 0 0
WGL HLDGS INC COM 92924F106 19,334 448,587 SH   SOLE   448,587 0 0
WINTRUST FINL CORP COM 97650W108 10,120 220,000 SH   SOLE   220,000 0 0
WISCONSIN ENERGY CORP COM 976657106 9,429 200,960 SH   SOLE   200,960 0 0
WORKDAY INC CL A 98138H101 272 3,025 SH   SOLE   3,025 0 0
WSFS FINL CORP COM 929328102 3,241 44,000 SH   SOLE   44,000 0 0
XCEL ENERGY INC COM 98389B100 19,319 599,399 SH   SOLE   599,399 0 0
ZIONS BANCORPORATION COM 989701107 9,931 337,000 SH   SOLE   337,000 0 0