Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BPOP	POPULAR INC	6,762,634	$177M	6.5%	$21.95	+8.2%	COM NEW	733174700
—	FLEETCOR TECHNOLOGIES INC	1,577,105	$174M	6.4%	$83.63	—	COM	339041105
—	HERTZ GLOBAL HOLDINGS INC	6,587,958	$146M	5.4%	$23.92	—	COM	42805T105
—	WYNDHAM WORLDWIDE CORP	2,111,554	$129M	4.7%	$58.02	—	COM	98310W108
—	NOBLE CORPORATION BAAR	3,386,821	$128M	4.7%	$37.58	—	NAMEN -AKT	H5833N103
OC	OWENS CORNING NEW	2,960,469	$112M	4.1%	$40.86	-4.6%	COM	690742101
LNG	CHENIERE ENERGY INC	3,163,966	$108M	4.0%	$29.68	0.0%	COM NEW	16411R208
—	PENTAIR LTD	1,510,588	$98.1M	3.6%	$58.86	—	SHS	H6169Q108
—	LIBERTY GLOBAL PLC	1,234,970	$93.15M	3.4%	$67.89	—	SHS CL C	G5480U120
CHKP	CHECK POINT SOFTWARE TECH LT	1,472,516	$83.28M	3.1%	$48.32	+16.3%	ORD	M22465104
—	DELPHI AUTOMOTIVE PLC	1,365,191	$79.75M	2.9%	$50.83	—	SHS	G27823106
SIG	SIGNET JEWELERS LIMITED	1,015,931	$72.79M	2.7%	$54.92	+4.1%	SHS	G81276100
—	CHINA MOBILE LIMITED	1,286,524	$72.6M	2.7%	$56.43	—	SPONSORED ADR	16941M109
MS	MORGAN STANLEY	2,686,681	$72.41M	2.7%	$17.33	+13.4%	COM NEW	617446448
LEA	LEAR CORP	1,000,573	$71.61M	2.6%	$46.85	+19.6%	COM NEW	521865204
—	GOOGLE INC	75,335	$65.99M	2.4%	$879.98	—	CL A	38259P508
QCOM	QUALCOMM INC	963,859	$64.92M	2.4%	$45.06	+3.3%	COM	747525103
—	REALOGY HLDGS CORP	1,482,335	$63.77M	2.3%	$43.02	—	COM	75605Y106
—	ISTAR FINL INC	5,277,612	$63.54M	2.3%	$11.29	—	COM	45031U101
ERIC	ERICSSON	4,171,466	$55.69M	2.0%	$11.28	—	ADR B SEK 10	294821608
NFG	NATIONAL FUEL GAS CO N J	788,702	$54.23M	2.0%	$60.82	+6.9%	COM	636180101
—	MADISON SQUARE GARDEN CO	932,682	$54.16M	2.0%	$59.22	—	CL A	55826P100
—	COTT CORP QUE	6,775,961	$52.11M	1.9%	$7.81	—	COM	22163N106
—	TEAM HEALTH HOLDINGS INC	1,351,871	$51.29M	1.9%	$38.50	—	COM	87817A107
ECL	ECOLAB INC	506,203	$49.99M	1.8%	$73.48	+10.5%	COM	278865100
AIG	AMERICAN INTL GROUP INC	980,290	$47.67M	1.8%	$32.51	+10.8%	COM NEW	026874784
—	CHEMTURA CORP	2,067,151	$47.52M	1.7%	$20.30	—	COM NEW	163893209
MDLZ	MONDELEZ INTL INC	1,471,659	$46.24M	1.7%	$23.16	+2.4%	CL A	609207105
—	MENS WEARHOUSE INC	1,330,779	$45.31M	1.7%	$37.40	—	COM	587118100
—	SWIFT TRANSN CO	2,090,075	$42.2M	1.6%	$16.54	—	CL A	87074U101
—	THE ADT CORPORATION	930,184	$37.82M	1.4%	$39.85	—	COM	00101J106
—	HILLSHIRE BRANDS CO	1,014,556	$31.19M	1.1%	$32.05	—	COM	432589109
—	CHARTER COMMUNICATIONS INC D	227,460	$30.65M	1.1%	$134.76	—	CL A NEW	16117M305
—	CARDTRONICS INC	797,040	$29.57M	1.1%	$27.60	—	COM	14161H108
DLX	DELUXE CORP	614,800	$25.61M	0.9%	—	—	Call	248019101
WU	WESTERN UN CO	1,366,200	$25.49M	0.9%	—	—	Call	959802109
GME	GAMESTOP CORP NEW	488,400	$24.25M	0.9%	—	—	Call	36467W109
IWM	ISHARES	200,000	$21.32M	0.8%	—	—	Put	464287655
—	SOTHEBYS	330,007	$16.21M	0.6%	$49.13	—	COM	835898107
—	ZILLOW INC	143,319	$12.09M	0.4%	$56.30	—	CL A	98954A107
IPGP	IPG PHOTONICS CORP	202,110	$11.38M	0.4%	$61.08	-4.2%	COM	44980X109
—	INVENSENSE INC	605,000	$10.66M	0.4%	$17.62	—	COM	46123D205
—	FRANCESCAS HLDGS CORP	280,859	$5.235M	0.2%	$27.79	—	COM	351793104
—	U S SILICA HLDGS INC	150,000	$3.735M	0.1%	$24.90	—	COM	90346E103
—	HERTZ GLOBAL HOLDINGS INC	125,000	$2.77M	0.1%	$23.92	—	Call	42805T105
—	BERRY PLASTICS GROUP INC	138,300	$2.762M	0.1%	$19.97	—	COM	08579W103
—	BIO-REFERENCE LABS INC	88,437	$2.642M	0.1%	$29.87	—	COM $.01 NEW	09057G602
—	NOBLE CORPORATION BAAR	37,500	$1.416M	0.1%	$37.58	—	Call	H5833N103
—	GOODRICH PETE CORP	40,000	$972K	0.0%	$12.80	—	COM NEW	382410405
AGO	ASSURED GUARANTY LTD	40,000	$750K	0.0%	$17.07	0.0%	Call	G0585R106
AGO	ASSURED GUARANTY LTD	37,500	$703K	0.0%	$17.07	0.0%	COM	G0585R106
—	GRAFTECH INTL LTD	37,500	$317K	0.0%	$8.45	—	COM	384313102