0001019056-12-000156.txt : 20120213 0001019056-12-000156.hdr.sgml : 20120213 20120213111046 ACCESSION NUMBER: 0001019056-12-000156 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20111231 FILED AS OF DATE: 20120213 DATE AS OF CHANGE: 20120213 EFFECTIVENESS DATE: 20120213 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MEAG MUNICH ERGO KAPITALANLAGEGESELLSCHAFT MBH CENTRAL INDEX KEY: 0001142433 IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-14702 FILM NUMBER: 12596229 BUSINESS ADDRESS: STREET 1: OSKARVON MILLE RING 8 STREET 2: MUNICH 80333 CITY: BARVARIA GERMANY STATE: 2M ZIP: 80333 BUSINESS PHONE: 011498928672852 MAIL ADDRESS: STREET 1: OSKARVON MILLE RING 8 STREET 2: MUNICH 80333 CITY: BAVARIA GERMANY STATE: 2M 13F-HR 1 meag_13f.txt 13F-HR UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: December 31, 2011 ----------------- Check here if Amendment [ ]; Amendment Number: This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH ---------------------------------------------- Address: Oskar-von-Miller-Ring 18 ---------------------------------------------- 80333 Munchen Germany ---------------------------------------------- Form 13F File Number: 28- -------------------------- The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Dieter Wolf Harald Lechner --------------------------------------------------- Title: Managing Director Managing Director --------------------------------------------------- Phone: 0049-89-2489-2720 0049-89-2489-2710 --------------------------------------------------- Signature, Place, and Date of Signing: /s/ Dieter Wolf Munchen, Germany February 10, 2012 ------------------- ----------------- -------------------- [Signature] [City, State] [Date] /s/ Harald Lechner Munchen, Germany February 10, 2012 ------------------- ----------------- -------------------- [Signature] [City, State] [Date] Report Type (Check only one.): [X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 ------------------ Form 13F Information Table Entry Total: 216 ------------------ Form 13F Information Table Value Total: 973,040 ------------------ (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. NONE. 2

FORM 13F INFORMATION TABLE 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 ----------------------------------------------------------------------------------------------------------------------------------- 3M CO COM 88579Y101 82 1000 SHS sole 1000 ABBOTT LABORATORIES COM 002824100 8,013 142581 SHS sole 142581 ACCENTURE PLC-CL A SHS CLASS A G1151C101 4,830 90093 SHS sole 90093 AGILENT TECHNOLOGIES INC COM 00846U101 53 1500 SHS sole 1500 AIR PRODUCTS & CHEMICALS INC COM 009158106 3,754 44152 SHS sole 44152 AMAZON.COM INC COM 023135106 5,710 32864 SHS sole 32864 AMEDISYS INC COM 023436108 1,139 106026 SHS sole 106026 AMERICAN EXPRESS CO COM 025816109 12,994 274580 SHS sole 274580 AMGEN INC COM 031162100 3,322 51308 SHS sole 51308 AMSURG CORP COM 03232P405 1,140 43251 SHS sole 43251 APOLLO GROUP INC-CL A CL A 037604105 3,197 59207 SHS sole 59207 APPLE INC COM 037833100 26,822 66120 SHS sole 66120 AT&T INC COM 00206R102 18,315 606252 SHS sole 606252 BANK OF THE OZARKS COM 063904106 1,783 58856 SHS sole 58856 BAXTER INTERNATIONAL INC COM 071813109 2,561 51406 SHS sole 51406 BCE INC COM NEW 05534B760 8,382 203000 SHS sole 203000 BENCHMARK ELECTRONICS INC COM 08160H101 1,783 130080 SHS sole 130080 3

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 ----------------------------------------------------------------------------------------------------------------------------------- BEST BUY CO INC COM 086516101 2,178 93532 SHS sole 93532 BOEING CO/THE COM 097023105 4,300 58238 SHS sole 58238 BROOKFIELD ASSET MANAGE-CL A CL A LTD VT SH 112585104 3,618 132000 SHS sole 132000 CA INC COM 12673P105 101 5000 SHS sole 5000 CAMECO CORP COM 13321L108 2,678 150000 SHS sole 150000 CAMPBELL SOUP CO COM 134429109 234 7000 SHS sole 7000 CAN IMPERIAL BK OF COMMERCE COM 136069101 7,774 108000 SHS sole 108000 CANADIAN NATL RAILWAY CO COM 136375102 7,792 100000 SHS sole 100000 CANADIAN NATURAL RESOURCES COM 136385101 12,958 350000 SHS sole 350000 CANADIAN PACIFIC RAILWAY LTD COM 13645T100 4,493 67000 SHS sole 67000 CAPITAL ONE FINANCIAL CORP COM 14040H105 6,515 153302 SHS sole 153302 CASH AMERICA INTL INC COM 14754D100 3,177 67223 SHS sole 67223 CATERPILLAR INC COM 149123101 310 3400 SHS sole 3400 CENOVUS ENERGY INC COM 15135U109 7,720 235000 SHS sole 235000 CHEVRON CORP COM 166764100 9,761 91157 SHS sole 91157 CISCO SYSTEMS INC COM 17275R102 5,366 294834 SHS sole 294834 CITIGROUP INC COM NEW 172967424 743 28000 SHS sole 28000 CME GROUP INC COM 12572Q105 4,747 19572 SHS sole 19572 COCA-COLA CO/THE COM 191216100 20,033 285534 SHS sole 285534 COLGATE-PALMOLIVE CO COM 194162103 7,840 84378 SHS sole 84378 COLUMBIA BANKING SYSTEM INC COM 197236102 1,350 69604 SHS sole 69604 4

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 ----------------------------------------------------------------------------------------------------------------------------------- COMMUNITY BANK SYSTEM INC COM 203607106 1,755 62902 SHS sole 62902 COMPUTER SCIENCES CORP COM 205363104 1,627 68647 SHS sole 68647 CONSOLIDATED EDISON INC COM 209115104 3,467 55454 SHS sole 55454 CONTANGO OIL & GAS COM NEW 21075N204 1,937 32720 SHS sole 32720 CORINTHIAN COLLEGES INC COM 218868107 1,729 789465 SHS sole 789465 CORNING INC COM 219350105 2,203 170242 SHS sole 170242 COVANTA HOLDING CORP COM 22282E102 214 16000 SHS sole 16000 CREE INC COM 225447101 132 6000 SHS sole 6000 CSX CORP COM 126408103 2,038 96680 SHS sole 96680 DELL INC COM 24702R101 1,895 128533 SHS sole 128533 DEVON ENERGY CORPORATION COM 25179M103 6,599 105714 SHS sole 105714 DIRECTV-CLASS A CL A 25490A101 12,621 294170 SHS sole 294170 DISCOVER FINANCIAL SERVICES COM 254709108 5,558 231489 SHS sole 231489 DOW CHEMICAL CO/THE COM 260543103 331 11500 SHS sole 11500 DU PONT (E.I.) DE NEMOURS COM 263534109 2,930 63992 SHS sole 63992 DUKE ENERGY CORP COM 26441C105 5,654 256459 SHS sole 256459 EATON VANCE CORP COM NON VTG 278265103 3,296 139711 SHS sole 139711 EBAY INC COM 278642103 5,341 175330 SHS sole 175330 EDISON INTERNATIONAL COM 281020107 10,875 262122 SHS sole 262122 ELDORADO GOLD CORP COM 284902103 1,989 145000 SHS sole 145000 ELI LILLY & CO COM 532457108 9,555 229028 SHS sole 229028 5

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 ----------------------------------------------------------------------------------------------------------------------------------- ENBRIDGE INC COM 29250N105 7,592 205000 SHS sole 205000 ENCANA CORP COM 292505104 2,204 120000 SHS sole 120000 ENERGEN CORP COM 29265N108 5,246 104483 SHS sole 104483 ENERPLUS CORP COM 292766102 1,251 50000 SHS sole 50000 ESCO TECHNOLOGIES INC COM 296315104 260 9000 SHS sole 9000 EXELON CORP COM 30161N101 7,165 164260 SHS sole 164260 EXXON MOBIL CORP COM 30231G102 39,016 458521 SHS sole 458521 EZCORP INC-CL A NON VTG 302301106 3,314 123558 SHS sole 123558 FIRST CASH FINL SVCS INC COM 31942D107 3,637 102074 SHS sole 102074 FIRST SOLAR INC COM 336433107 163 4900 SHS sole 4900 FOREST LABORATORIES INC COM 345838106 2,202 72103 SHS sole 72103 FREEPORT-MCMORAN COPPER COM 35671D857 3,699 99840 SHS sole 99840 GAMESTOP CORP-CLASS A CL A 36467W109 5,445 224985 SHS sole 224985 GAP INC/THE COM 364760108 3,330 179222 SHS sole 179222 GENERAL ELECTRIC CO COM 369604103 11,034 612309 SHS sole 612309 GETTY REALTY CORP COM 374297109 983 69081 SHS sole 69081 GILDAN ACTIVEWEAR INC COM 375916103 524 28000 SHS sole 28000 GILEAD SCIENCES INC COM 375558103 2,286 56400 SHS sole 56400 GOLDCORP INC COM 380956409 9,448 215000 SHS sole 215000 HALLIBURTON CO COM 406216101 378 11000 SHS sole 11000 HANCOCK HOLDING CO COM 410120109 3,352 104111 SHS sole 104111 6

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 ----------------------------------------------------------------------------------------------------------------------------------- HELMERICH & PAYNE COM 423452101 4,198 70891 SHS sole 70891 HEWLETT-PACKARD CO COM 428236103 2,373 92226 SHS sole 92226 HJ HEINZ CO COM 423074103 250 4600 SHS sole 4600 HUMANA INC COM 444859102 263 3000 SHS sole 3000 IAMGOLD CORP COM 450913108 789 50000 SHS sole 50000 IMPERIAL OIL LTD COM NEW 453038408 2,872 65000 SHS sole 65000 INFOSPACE INC COM PAR $.0001 45678T300 884 76999 SHS sole 76999 INTEL CORP COM 458140100 5,184 211496 SHS sole 211496 INTERCONTINENTALEXCHANGE INC COM 45865V100 2,990 24845 SHS sole 24845 INTL BUSINESS MACHINES CORP COM 459200101 23,561 126740 SHS sole 126740 ITAU UNIBANCO HLDNG-PREF ADR SPON ADR REP PFD 465562106 289 15800 SHS sole 15800 ITRON INC COM 465741106 181 5000 SHS sole 5000 ITT EDUCATIONAL SERVICES INC COM 45068B109 3,053 53258 SHS sole 53258 JAKKS PACIFIC INC COM 47012E106 694 48121 SHS sole 48121 JOHNSON & JOHNSON COM 478160104 26,067 396338 SHS sole 396338 JOHNSON CONTROLS INC COM 478366107 156 5000 SHS sole 5000 KANSAS CITY SOUTHERN COM NEW 485170302 306 4500 SHS sole 4500 KAYDON CORP COM 486587108 153 5000 SHS sole 5000 KINDRED HEALTHCARE INC COM 494580103 5,083 434404 SHS sole 434404 KINROSS GOLD CORP COM NO PAR 496902404 3,670 321000 SHS sole 321000 KRAFT FOODS INC-CLASS A CL A 50075N104 487 13000 SHS sole 13000 7

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 ----------------------------------------------------------------------------------------------------------------------------------- KROGER CO COM 501044101 4,883 200769 SHS sole 200769 KULICKE & SOFFA INDUSTRIES COM 501242101 3,136 336448 SHS sole 336448 LDK SOLAR CO LTD -ADR SPONSORED ADR 50183L107 234 55000 SHS sole 55000 LHC GROUP INC COM 50187A107 597 46326 SHS sole 46326 LINCOLN EDUCATIONAL SERVICES COM 533535100 651 82999 SHS sole 82999 MAGNA INTERNATIONAL INC COM 559222401 1,979 60000 SHS sole 60000 MCDONALD'S CORP COM 580135101 8,583 85366 SHS sole 85366 MCGRAW-HILL COMPANIES INC COM 580645109 100 2200 SHS sole 2200 MEADWESTVACO CORP COM 583334107 257 8500 SHS sole 8500 MECHEL OAO-ADR SPONSORED ADR 583840103 91 10800 SHS sole 10800 MEDTRONIC INC COM 585055106 248 6500 SHS sole 6500 MERCK & CO. INC. COM 58933Y105 4,694 124251 SHS sole 124251 MICRON TECHNOLOGY INC COM 595112103 12,410 1958977 SHS sole 1958977 MICROSOFT CORP COM 594918104 20,795 799177 SHS sole 799177 MINERALS TECHNOLOGIES INC COM 603158106 1,827 31979 SHS sole 31979 MKS INSTRUMENTS INC COM 55306N104 2,248 79310 SHS sole 79310 MOBILE TELESYSTEMS-SP ADR SPONSORED ADR 607409109 308 21000 SHS sole 21000 MOODY'S CORP COM 615369105 2,130 62919 SHS sole 62919 MORGAN STANLEY COM NEW 617446448 364 24000 SHS sole 24000 MOTOROLA SOLUTIONS INC COM NEW 620076307 160 3428 SHS sole 3428 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 ----------------------------------------------------------------------------------------------------------------------------------- MSCI INC-A CL A 55354G100 7,049 215317 SHS sole 215317 NASDAQ OMX GROUP/THE COM 631103108 1,836 74546 SHS sole 74546 NATIONAL OILWELL VARCO INC COM 637071101 3,242 47470 SHS sole 47470 NATL PENN BCSHS INC COM 637138108 1,988 233625 SHS sole 233625 NEWMONT MINING CORP COM 651639106 289 4800 SHS sole 4800 NEXEN INC COM 65334H102 939 60000 SHS sole 60000 OFFICE DEPOT INC COM 676220106 2,168 1017500 SHS sole 1017500 OM GROUP INC COM 670872100 1,705 75907 SHS sole 75907 ORACLE CORP COM 68389X105 3,081 119422 SHS sole 119422 ORMAT TECHNOLOGIES INC COM 686688102 145 8165 SHS sole 8165 OSHKOSH CORP COM 688239201 5,376 252622 SHS sole 252622 OWENS CORNING COM 690742101 72 2500 SHS sole 2500 P G & E CORP COM 69331C108 2,293 55382 SHS sole 55382 PATTERSON-UTI ENERGY INC COM 703481101 2,855 142836 SHS sole 142836 PENN VIRGINIA CORP COM 707882106 1,709 325463 SHS sole 325463 PENN WEST PETROLEUM LTD COM 707887105 2,475 125000 SHS sole 125000 PEPSICO INC COM 713448108 7,156 107433 SHS sole 107433 PETROLEO BRASILEIRO-SPON ADR SP ADR NON VTG 71654V101 414 17800 SHS sole 17800 PETROQUEST ENERGY INC COM 716748108 771 117167 SHS sole 117167 PF CHANG'S CHINA BISTRO INC COM 69333Y108 1,241 39901 SHS sole 39901 PFIZER INC COM 717081103 16,752 768965 SHS sole 768965 9

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 ----------------------------------------------------------------------------------------------------------------------------------- PHILIP MORRIS INTERNATIONAL COM 718172109 22,277 281988 SHS sole 281988 PORTFOLIO RECOVERY ASSOCIATE COM 73640Q105 1,474 21275 SHS sole 21275 POTASH CORP OF SASKATCHEWAN COM 73755L107 7,054 170000 SHS sole 170000 PRAXAIR INC COM 74005P104 3,512 32823 SHS sole 32823 PROCTER & GAMBLE CO/THE COM 742718109 13,789 206234 SHS sole 206234 PROLOGIS INC COM 74340W103 45 1562 SHS sole 1562 PS BUSINESS PARKS INC/CA COM 69360J107 1,551 27450 SHS sole 27450 QUALCOMM INC COM 747525103 2,334 42658 SHS sole 42658 QUANTA SERVICES INC COM 74762E102 217 10000 SHS sole 10000 QUEST DIAGNOSTICS INC COM 74834L100 117 2000 SHS sole 2000 QUICKSILVER RESOURCES INC COM 74837R104 806 117953 SHS sole 117953 RENT-A-CENTER INC COM 76009N100 6,608 176633 SHS sole 176633 REPUBLIC SERVICES INC COM 760759100 1,942 70666 SHS sole 70666 RESEARCH IN MOTION COM 760975102 3,971 275000 SHS sole 275000 ROGERS COMMUNICATIONS INC-B CL B 775109200 3,074 80000 SHS sole 80000 ROPER INDUSTRIES INC COM 776696106 10,435 120000 SHS sole 120000 ROYAL BANK OF CANADA COM 780087102 19,720 389500 SHS sole 389500 SCHLUMBERGER LTD COM 806857108 5,393 79360 SHS sole 79360 SEACOR HOLDINGS INC COM 811904101 3,049 33941 SHS sole 33941 SHAW COMMUNICATIONS INC-B CL B CONV 82028K200 2,022 100000 SHS sole 100000 SIGMA DESIGNS INC COM 826565103 543 90476 SHS sole 90476 10

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 ----------------------------------------------------------------------------------------------------------------------------------- SIGNATURE BANK COM 82669G104 5,544 91754 SHS sole 91754 SILVER WHEATON CORP COM 828336107 3,922 135000 SHS sole 135000 SIMON PROPERTY GROUP INC COM 828806109 11,304 86558 SHS sole 86558 SKYWEST INC COM 830879102 1,899 145368 SHS sole 145368 SLM CORP COM 78442P106 2,039 151243 SHS sole 151243 SOUTHERN CO/THE COM 842587107 5,404 115917 SHS sole 115917 SOUTHWESTERN ENERGY CO COM 845467109 1,994 61921 SHS sole 61921 STAGE STORES INC COM NEW 85254C305 1,581 112562 SHS sole 112562 STAPLES INC COM 855030102 35 2500 SHS sole 2500 STARBUCKS CORP COM 855244109 93 2000 SHS sole 2000 STATE STREET CORP COM 857477103 227 5600 SHS sole 5600 SUNCOR ENERGY INC COM 867224107 11,931 415000 SHS sole 415000 SUPERIOR INDUSTRIES INTL COM 868168105 741 44409 SHS sole 44409 SVB FINANCIAL GROUP COM 78486Q101 1,890 39430 SHS sole 39430 SYMANTEC CORP COM 871503108 63 4000 SHS sole 4000 TALISMAN ENERGY INC COM 87425E103 4,750 380000 SHS sole 380000 TECK RESOURCES LTD-CLS B CL B 878742204 4,578 131000 SHS sole 131000 TELEPHONE AND DATA SYSTEMS COM 879433100 3,738 156931 SHS sole 156931 TELLABS INC COM 879664100 7,292 1809330 SHS sole 1809330 TENET HEALTHCARE CORP COM 88033G100 6,092 1208715 SHS sole 1208715 TERADYNE INC COM 880770102 4,121 302366 SHS sole 302366 11

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 ----------------------------------------------------------------------------------------------------------------------------------- TESSERA TECHNOLOGIES INC COM 88164L100 2,337 138750 SHS sole 138750 TETRA TECHNOLOGIES INC COM 88162F105 1,287 135918 SHS sole 135918 TIM HORTONS INC COM 88706M103 3,151 65000 SHS sole 65000 TIME WARNER INC COM NEW 887317303 15,612 426914 SHS sole 426914 TORONTO-DOMINION BANK COM NEW 891160509 17,426 235000 SHS sole 235000 TRANSCANADA CORP COM 89353D107 7,816 180000 SHS sole 180000 TRINA SOLAR LTD-SPON ADR SPON ADR 89628E104 72 10667 SHS sole 10667 TYSON FOODS INC-CL A CL A 902494103 1,726 83492 SHS sole 83492 UNION PACIFIC CORP COM 907818108 7,992 75446 SHS sole 75446 UNIT CORP COM 909218109 5,439 116825 SHS sole 116825 UNITED ONLINE INC COM 911268100 1,053 190368 SHS sole 190368 UNITED TECHNOLOGIES CORP COM 913017109 6,973 94730 SHS sole 94730 UNITEDHEALTH GROUP INC COM 91324P102 585 11500 SHS sole 11500 URS CORP COM 903236107 1,512 43235 SHS sole 43235 US BANCORP COM NEW 902973304 5,104 188392 SHS sole 188392 USA MOBILITY INC COM 90341G103 749 53294 SHS sole 53294 VALASSIS COMMUNICATIONS INC COM 918866104 5,411 284198 SHS sole 284198 VALEANT PHARMACEUTICALS INTE COM 91911K102 4,843 105000 SHS sole 105000 VERIZON COMMUNICATIONS INC COM 92343V104 18,919 473192 SHS sole 473192 VIACOM INC-CLASS B CL B 92553P201 2,088 45325 SHS sole 45325 VISHAY INTERTECHNOLOGY INC COM 928298108 5,675 625636 SHS sole 625636 12

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 ----------------------------------------------------------------------------------------------------------------------------------- VORNADO REALTY TRUST SH BEN INT 929042109 9,406 121888 SHS sole 121888 WAL-MART STORES INC COM 931142103 15,469 258456 SHS sole 258456 WALT DISNEY CO/THE CO COM DISNEY 254687106 75 2000 SHS sole 2000 WASHINGTON FEDERAL INC COM 938824109 2,822 201577 SHS sole 201577 WASHINGTON POST-CLASS B CL B 939640108 2,619 6893 SHS sole 6893 WELLS FARGO & CO COM 949746101 7,220 261677 SHS sole 261677 WESTERN DIGITAL CORP COM 958102105 2,624 84544 SHS sole 84544 WEYERHAEUSER CO COM 962166104 152 8000 SHS sole 8000 WHIRLPOOL CORP COM 963320106 189 4000 SHS sole 4000 YAMANA GOLD INC COM 98462Y100 2,808 190000 SHS sole 190000 YINGLI GREEN ENERGY HOLD-ADR ADR 98584B103 118 32000 SHS sole 32000 13