Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
UAL	United Continental Holdings In	9,164,730	$409M	8.8%	$31.81	+41.4%	COM	910047109
CE	Celanese Corp	6,041,600	$335M	7.3%	$37.17	+14.4%	COM	150870103
—	Canadian Natural Resources	7,370,380	$283M	6.1%	$28.11	—	COM	2171573
DAL	Delta Airlines Inc	8,017,300	$278M	6.0%	$14.99	+86.6%	COM	247361702
C	Citigroup Inc.	4,472,693	$213M	4.6%	$35.93	+3.2%	COM	172967424
—	Google Inc. - Cl C	168,735	$188M	4.1%	$1114.51	—	COM	38259p706
COF	Capital One Financial Co	2,413,300	$186M	4.0%	$47.00	+26.2%	COM	14040H105
—	TRW Automotive Holdings Corp	2,256,300	$184M	4.0%	$66.44	—	COM	87264s106
—	Entegris Inc	12,965,400	$157M	3.4%	$9.38	—	COM	29362u104
—	Whiting Petroleum Corp	2,153,200	$149M	3.2%	$49.78	—	COM	966387102
—	Apollo Global Management, LLC	4,606,774	$146M	3.2%	$24.25	—	COM	037612306
—	Direct TV Com	1,719,200	$131M	2.8%	$61.64	—	COM	25490a309
JPM	JP Morgan Chase & Co	1,971,900	$120M	2.6%	$36.24	+16.1%	COM	46625H100
—	Anadarko Petroleum	1,392,400	$118M	2.6%	$85.93	—	COM	032511107
—	KKR & Co. L.P.	4,948,800	$113M	2.4%	$20.50	—	COM	48248m102
—	Time Warner Inc	1,710,613	$112M	2.4%	$57.82	—	COM	887317303
—	Flextronics	11,657,100	$108M	2.3%	$7.74	—	COM	y2573f102
BRK/B	Berkshire Hathaway Inc	741,500	$92.67M	2.0%	$110.42	+5.8%	COM	084670702
—	Apache Corp	914,077	$75.82M	1.6%	$83.83	—	COM	037411105
—	Blackstone Group L.P.	1,966,900	$65.4M	1.4%	$21.71	—	COM	09253u108
DCH	American Axle	3,368,700	$62.39M	1.3%	$15.63	+23.1%	COM	024061103
—	LyondellBasell Industries NV	696,200	$61.92M	1.3%	$66.26	—	COM	n53745100
—	Eaton Corp PLC	763,100	$57.32M	1.2%	$65.81	—	COM	g29183103
—	Hertz Global Holdings Inc	2,096,000	$55.84M	1.2%	$27.65	—	COM	42805t105
—	Yahoo	1,536,300	$55.15M	1.2%	$38.41	—	COM	984332106
—	Cigna Corp	642,200	$53.77M	1.2%	$72.49	—	COM	125509109
BIDU	Baidu, Inc.	324,300	$49.38M	1.1%	$94.60	—	COM	056752108
—	MDC Partners Inc.	2,150,358	$49.07M	1.1%	$24.08	—	COM	552697104
—	Luxfer Holdings PLC	2,451,018	$47.99M	1.0%	$20.66	—	COM	550678106
—	Rock-Tenn Co	452,816	$47.8M	1.0%	$100.81	—	COM	772739207
AIG	American International Group,	840,700	$42.04M	0.9%	$32.51	+16.5%	COM	026874784
—	Check Point Software Technolog	565,900	$38.27M	0.8%	$50.97	—	COM	m22465104
—	Priceline.com Incorporated	28,170	$33.58M	0.7%	$839.41	—	COM	741503403
—	Diana Shipping Inc.	2,511,724	$30.12M	0.7%	$11.44	—	COM	y2066g104
—	CNO Financial Group, Inc.	1,621,800	$29.36M	0.6%	$15.66	—	COM	12621e103
—	Discovery Fincl Svcs	421,800	$24.55M	0.5%	$47.64	—	COM	254709108
TER	Teradyne Inc	1,229,300	$24.45M	0.5%	$15.29	+16.4%	COM	880770102
HIG	The Hartford Financial Service	683,500	$24.11M	0.5%	$27.08	+0.1%	COM	416515104
ALCO	Alico	596,581	$22.49M	0.5%	$36.45	-12.2%	COM	016230104
—	Latam Airlines Group S.A.	1,471,700	$22.15M	0.5%	$15.40	—	COM	51817r106
—	Mistras Group, Inc.	962,429	$21.91M	0.5%	$20.99	—	COM	60649t107
HAL	Halliburton Co	367,750	$21.66M	0.5%	$33.21	+28.8%	COM	406216101
OPY	Oppenheimer Hldgs	704,848	$19.77M	0.4%	$18.77	+35.4%	COM	683797104
MCS	The Marcus Corporation	1,170,411	$19.55M	0.4%	$13.35	+5.1%	COM	566330106
AVT	Avnet Inc	401,500	$18.68M	0.4%	$25.70	+29.3%	COM	053807103
—	Precision Castparts	70,800	$17.89M	0.4%	$226.01	—	COM	740189105
—	Dean Foods Company	1,125,900	$17.41M	0.4%	$15.46	—	COM	242370203
—	Superior Energy Services Inc	565,600	$17.4M	0.4%	$26.35	—	COM	868157108
—	Knightsbridge Tankers Ltd.	1,247,852	$16.91M	0.4%	$7.62	—	COM	g5299g106
—	Comcast Corporation	310,000	$15.12M	0.3%	$43.84	—	COM	20030n200
EZPW	EZ Corp Inc	1,362,672	$14.7M	0.3%	$17.91	-34.6%	COM	302301106
EBAY	Ebay	258,000	$14.25M	0.3%	$20.67	0.0%	COM	278642103
—	Starwood Hotels & Resorts	157,800	$12.56M	0.3%	$63.19	—	COM	85590A401
—	Kraton Performance Polymers	470,530	$12.3M	0.3%	$21.20	—	COM	50077c106
—	Aaron's, Inc.	314,600	$9.514M	0.2%	$27.99	—	COM	002535300
—	Baltic Trading Ltd.	1,438,274	$9.076M	0.2%	$5.49	—	COM	y0553w103
—	First Citizens BancShares, Inc	32,000	$7.704M	0.2%	$192.06	—	COM	31946m103
—	21Vianet Group, Inc.	207,000	$5.941M	0.1%	$28.70	—	COM	90138a103
—	Walgreen	83,400	$5.507M	0.1%	$66.03	—	COM	931422109
—	Valeant Pharmaceuticals Intern	40,300	$5.313M	0.1%	$131.84	—	COM	91911k102
—	Och-Ziff Capital Management Gr	378,600	$5.213M	0.1%	$10.55	—	COM	67551u105
—	Green Dot Corp	265,500	$5.185M	0.1%	$19.53	—	COM	39304d102
—	Penn Virginia Group	293,800	$5.139M	0.1%	$4.70	—	COM	707882106
FSLR	First Solar Inc	69,600	$4.857M	0.1%	$55.76	0.0%	COM	336433107
—	Cameco Corp	166,100	$3.804M	0.1%	$20.00	—	COM	13321l108
—	Fairway Group Holdings Corp.	487,802	$3.727M	0.1%	$7.64	—	COM	30603d109
AXP	American Express Company	36,500	$3.286M	0.1%	$59.62	+26.6%	COM	025816109
—	Chase Corporation	81,066	$2.556M	0.1%	$22.36	—	COM	16150r104
—	McClatchy Co Cl A	352,369	$2.262M	0.0%	$2.28	—	COM	579489105
—	Cedar Fair, L.P.	40,291	$2.052M	0.0%	$41.40	—	COM	150185106
—	RF Micro Devices	196,293	$1.547M	0.0%	$5.34	—	COM	749941100
—	China Lodging Group Ltd.	29,109	$715K	0.0%	$24.56	—	COM	16949n109
EA	Electronic Arts	23,320	$677K	0.0%	$19.79	+31.7%	COM	285512109
—	Nutri Systems	42,100	$634K	0.0%	$15.06	—	COM	67069d108
—	Magnum Hunter Resources Corp	70,450	$599K	0.0%	$8.50	—	COM	55973b102
—	Stereotaxis	127,481	$542K	0.0%	$4.25	—	COM	85916J102
—	Meru Networks	110,905	$500K	0.0%	$4.03	—	COM	59047q103
—	Oclaro Inc	135,400	$420K	0.0%	$1.18	—	COM	67555n206
—	Crown Media	86,851	$334K	0.0%	$2.47	—	COM	228411104
—	Emcore Corp	27,612	$139K	0.0%	$3.59	—	COM	290846104
—	Vision Sciences Inc. Delaware	76,800	$92,000	0.0%	$1.02	—	COM	927912105
—	Unilife Corp	19,298	$79,000	0.0%	$4.09	—	COM	90478e103
—	Entropic Communications Inc	18,700	$76,000	0.0%	$4.27	—	COM	29384r105
—	Active Power	15,074	$50,000	0.0%	$3.32	—	COM	00504w308
—	Gasco Energy	407,200	$18,000	0.0%	$0.04	—	COM	367220100
—	DecisionPoint Systems Inc	35,165	$14,000	0.0%	$0.40	—	COM	24345a101