--- -------------------- ----- as of Sept. 30, 2012
Portfolio Holdings for --- -------------------- -----
--- -------------------- ----- holds 46 positions in its portfolio as reported in the September 2012 quarterly 13F filing
| Company (Ticker) | Portfolio Weight | Valued At | Change in Shares | Share Count | Share Price |
|---|---|---|---|---|---|
| Equinix | 8.6 | $41M | 200k | 206.05 | |
| Delphi Automotive | 5.9 | $28M | 910k | 31.00 | |
| Marathon Petroleum Corp (MPC) | 5.7 | $27M | 501k | 54.59 | |
| Cheniere Energy (LNG) | 5.7 | $27M | 1.8M | 15.53 | |
| Apple (AAPL) | 5.6 | $27M | 40k | 667.08 | |
| Visteon Corporation (VC) | 5.0 | $24M | 532k | 44.46 | |
| SPDR Gold Trust (GLD) | 4.8 | $23M | 134k | 171.88 | |
| Abbott Laboratories (ABT) | 3.5 | $17M | 245k | 68.56 | |
| CIGNA Corporation | 3.0 | $14M | 300k | 47.17 | |
| Cincinnati Bell | 2.9 | $14M | 2.4M | 5.70 | |
| AmerisourceBergen (COR) | 2.8 | $14M | 350k | 38.71 | |
| Procter & Gamble Company (PG) | 2.8 | $14M | 195k | 69.35 | |
| Tronox | 2.8 | $13M | 585k | 22.65 | |
| Canadian Pacific Railway | 2.6 | $12M | 149k | 82.89 | |
| Directv | 2.5 | $12M | 225k | 52.44 | |
| Cit | 2.4 | $11M | 285k | 39.39 | |
| Liberty Media Corp lcpad | 2.2 | $10M | 100k | 104.07 | |
| Teekay Shipping Marshall Isl | 2.1 | $10M | 325k | 31.20 | |
| BPZ Resources | 2.1 | $10M | 3.5M | 2.86 | |
| W.R. Grace & Co. | 2.1 | $9.9M | 167k | 59.09 | |
| Waste Management (WM) | 2.0 | $9.6M | 300k | 32.08 | |
| Industries N shs - a - (LYB) | 1.8 | $8.8M | 170k | 51.66 | |
| Anadarko Petroleum Corporation | 1.8 | $8.7M | 125k | 69.92 | |
| EnPro Industries (NPO) | 1.8 | $8.6M | 239k | 36.01 | |
| Tesoro Corporation | 1.8 | $8.4M | 200k | 41.90 | |
| Tripadvisor (TRIP) | 1.7 | $8.2M | 250k | 32.93 | |
| General Motors Company (GM) | 1.7 | $8.0M | 350k | 22.75 | |
| Charter Communications | 1.6 | $7.5M | 100k | 75.06 | |
| Virgin Media | 1.5 | $7.4M | 250k | 29.42 | |
| American Capital | 1.3 | $6.2M | 550k | 11.35 | |
| Royal Bk Scotland Group Plc adr pref shs r | 1.3 | $6.2M | 299k | 20.86 | |
| News Corporation | 1.0 | $4.9M | 200k | 24.50 | |
| United States Steel Corporation | 1.0 | $4.8M | 250k | 19.07 | |
| Xerox Corporation | 0.8 | $4.0M | 550k | 7.34 | |
| American International (AIG) | 0.7 | $3.3M | 100k | 32.78 | |
| ROYAL BK SCOTLAND Group Plc sp adr pref t | 0.5 | $2.2M | 99k | 22.71 | |
| Sirius XM Radio | 0.4 | $2.1M | 800k | 2.59 | |
| Amc Networks Inc Cl A (AMCX) | 0.4 | $1.8M | 42k | 43.51 | |
| Infinity Cross Border Acquisition unit | 0.3 | $1.6M | 200k | 8.14 | |
| Trio Merget Corp Com Stk | 0.3 | $1.5M | 150k | 9.86 | |
| Kinder Morgan Inc/delaware Wts | 0.3 | $1.5M | 419k | 3.49 | |
| Boyd Gaming Corporation (BYD) | 0.3 | $1.4M | 200k | 7.06 | |
| Brookdale Senior Living (BKD) | 0.2 | $1.2M | 50k | 23.20 | |
| Turquoisehillres | 0.2 | $847k | 100k | 8.47 | |
| Royal Bk Scotland Group Plc adr pfd ser p | 0.1 | $643k | 31k | 20.73 | |
| Caesars Entertainment | 0.1 | $530k | 78k | 6.80 |
