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
ALLEGHENY TECHNOLOGIES INC Cmn 01741R102 66,643 3,061,223 SH   DFND   3,061,223 0 0
AMETEK INC NEW Cmn 031100100 21,393 316,004 SH   DFND   316,004 0 0
BARRICK GOLD CORP Cmn 067901108 141,315 10,436,823 SH   DFND   10,436,823 0 0
BOEING CO Cmn 097023105 43,703 135,513 SH   DFND   135,513 0 0
C H ROBINSON WORLDWIDE INC Cmn 12541W209 30,673 364,764 SH   DFND   364,764 0 0
CATERPILLAR INC DEL Cmn 149123101 101,287 797,096 SH   DFND   797,096 0 0
CLEVELAND CLIFFS INC Cmn 185899101 0 1 SH   DFND   1 0 0
COLFAX CORP Cmn 194014106 1,179 56,388 SH   DFND   56,388 0 0
DELTA AIR LINES INC DEL Cmn 247361702 22,267 446,236 SH   DFND   446,236 0 0
ENSCO PLC Cmn G3157S106 0 21 SH   DFND   21 0 0
FLUOR CORP NEW Cmn 343412102 88,782 2,757,203 SH   DFND   2,757,203 0 0
GARDNER DENVER HLDGS INC Cmn 36555P107 1 71 SH   DFND   71 0 0
HARRIS CORP DEL Cmn 413875105 88,969 660,739 SH   DFND   660,739 0 0
ILLINOIS TOOL WKS INC Cmn 452308109 34,069 268,913 SH   DFND   268,913 0 0
JACOBS ENGR GROUP INC DEL Cmn 469814107 12,144 207,739 SH   DFND   207,739 0 0
L3 TECHNOLOGIES INC Cmn 502413107 164,684 948,315 SH   DFND   948,315 0 0
LOCKHEED MARTIN CORP Cmn 539830109 52,767 201,523 SH   DFND   201,523 0 0
MARTIN MARIETTA MATLS INC Cmn 573284106 39,198 228,070 SH   DFND   228,070 0 0
MSC INDL DIRECT INC Cmn 553530106 50,820 660,691 SH   DFND   660,691 0 0
NORFOLK SOUTHERN CORP Cmn 655844108 98,403 658,039 SH   DFND   658,039 0 0
OWENS CORNING NEW Cmn 690742101 19,265 438,039 SH   DFND   438,039 0 0
PATTERSON UTI ENERGY INC Cmn 703481101 343 33,097 SH   DFND   33,097 0 0
PENTAIR PLC Cmn G7S00T104 26,439 699,820 SH   DFND   699,820 0 0
RIO TINTO PLC Depository Receipt 767204100 4,541 93,674 SH   DFND   93,674 0 0
SCIENCE APPLICATNS INTL CP N Cmn 808625107 38,497 604,342 SH   DFND   604,342 0 0
SPIRIT AIRLS INC Cmn 848577102 38,210 659,698 SH   DFND   659,698 0 0
TECK RESOURCES LTD Cmn 878742204 7 326 SH   DFND   326 0 0
TRANSOCEAN LTD Cmn H8817H100 21,475 3,094,416 SH   DFND   3,094,416 0 0
UNION PAC CORP Cmn 907818108 91,122 659,209 SH   DFND   659,209 0 0
UNITED CONTL HLDGS INC Cmn 910047109 45,904 548,243 SH   DFND   548,243 0 0
XPO LOGISTICS INC Cmn 983793100 0 2 SH   DFND   2 0 0