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
ABBVIE INC COM 00287Y109 1,090 11,100 SH   SOLE   11,100 0 0
ACME UNITED CORP COM 004816104 1,609 70,000 SH   SOLE   70,000 0 0
AEGON N.V.-NY REG SHR NY REGISTRY SHS 007924103 637 216,800 SH   SOLE   216,800 0 0
AIR LEASE CORPORATION CL A CL A 00912X302 2,273 77,600 SH   SOLE   77,600 0 0
ALASKA AIR GROUP INC COM 011659109 819 22,600 SH   SOLE   22,600 0 0
ALLIANCE DATA SYSTEMS CORP COM 018581108 1,142 25,300 SH   SOLE   25,300 0 0
ALPHA & OMEGA SEMICONDUCTOR SHS G6331P104 1,843 169,400 SH   SOLE   169,400 0 0
ALPHABET INC-CL A CAP STK CL A 02079K305 1,134 800 SH   SOLE   800 0 0
ALPHABET INC-CL C CAP STK CL C 02079K107 1,134 802 SH   SOLE   802 0 0
ALTRIA GROUP INC COM 02209S103 769 19,600 SH   SOLE   19,600 0 0
AMC NETWORKS INC CL A 00164V103 938 40,100 SH   SOLE   40,100 0 0
APPLE COMPUTER INC COM 037833100 2,298 6,300 SH   SOLE   6,300 0 0
Arch Resources Inc CL A 03940R107 852 30,000 SH   SOLE   30,000 0 0
AT&T INC COM 00206R102 756 25,000 SH   SOLE   25,000 0 0
B RILEY FINANCIAL INC COM 05580M108 870 40,000 SH   SOLE   40,000 0 0
BGC PARTNERS INC CL A CL A 05541T101 685 250,000 SH   SOLE   250,000 0 0
BRISTOL-MYERS SQUIBB CO COM 110122108 1,764 30,000 SH   SOLE   30,000 0 0
BROADCOM LIMITED COM 11135F101 978 3,100 SH   SOLE   3,100 0 0
CANON INC-SPONS ADR SPONSORED ADR 138006309 717 35,900 SH   SOLE   35,900 0 0
CARDINAL HEALTH INC COM 14149Y108 1,012 19,400 SH   SOLE   19,400 0 0
CARNIVAL CORP UNIT 99/99/9999 143658300 315 19,200 SH   SOLE   19,200 0 0
CIGNA CORP COM 125523100 1,877 10,000 SH   SOLE   10,000 0 0
CISCO SYSTEMS INC COM 17275R102 961 20,600 SH   SOLE   20,600 0 0
COMMSCOPE HOLDING CO INC COM 20337X109 857 102,900 SH   SOLE   102,900 0 0
CORNERSTONE BULDING BRANDS COM 21925D109 727 120,000 SH   SOLE   120,000 0 0
COTY INC-CL A COM CL A 222070203 395 88,400 SH   SOLE   88,400 0 0
CRANE CO COM 224399105 1,487 25,000 SH   SOLE   25,000 0 0
CRAWFORD & CO -CL A CL A 224633206 789 100,000 SH   SOLE   100,000 0 0
DANA HOLDING CORP COM 235825205 1,158 95,000 SH   SOLE   95,000 0 0
DENNY'S CORPORATION COM 24869P104 253 25,000 SH   SOLE   25,000 0 0
DISCOVER FINANCIAL SERVICES COM 254709108 1,002 20,000 SH   SOLE   20,000 0 0
DISCOVERY COMMUNICATIONS-A COM SER A 25470F104 844 40,000 SH   SOLE   40,000 0 0
DOMINION RESOURCES INC/VA COM 25746U109 958 11,800 SH   SOLE   11,800 0 0
DOW INC COM 260557103 1,476 36,200 SH   SOLE   36,200 0 0
DXC TECHNOLOGY COMPANY COM 23355L106 1,094 66,300 SH   SOLE   66,300 0 0
EASTMAN CHEMICAL COMPANY COM 277432100 871 12,500 SH   SOLE   12,500 0 0
FEDEX CORP COM 31428X106 1,192 8,500 SH   SOLE   8,500 0 0
FLEXTRONICS INTL LTD ORD Y2573F102 868 84,700 SH   SOLE   84,700 0 0
FOOT LOCKER INC COM 344849104 738 25,300 SH   SOLE   25,300 0 0
FORD MOTOR CO COM 345370860 641 105,400 SH   SOLE   105,400 0 0
GENERAL MOTORS CO COM 37045V100 1,247 49,300 SH   SOLE   49,300 0 0
GILEAD SCIENCES INC COM 375558103 1,154 15,000 SH   SOLE   15,000 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 1,383 7,000 SH   SOLE   7,000 0 0
GOODYEAR TIRE & RUBBER CO COM 382550101 572 63,900 SH   SOLE   63,900 0 0
GREENBRIER COMPANIES INC COM 393657101 705 31,000 SH   SOLE   31,000 0 0
GSI TECHNOLOGY INC COM 36241U106 718 100,000 SH   SOLE   100,000 0 0
HARLEY-DAVIDSON INC COM 412822108 620 26,100 SH   SOLE   26,100 0 0
HNI CORP COM 404251100 795 26,000 SH   SOLE   26,000 0 0
HOOKER FURNITURE CORP COM 439038100 973 50,000 SH   SOLE   50,000 0 0
HSBC HOLDINGS PLC-SPONS ADR SPON ADR NEW 404280406 586 25,100 SH   SOLE   25,100 0 0
INTERNATIONAL GAME TECHNOLOG SHS USD G4863A108 591 66,400 SH   SOLE   66,400 0 0
INTERNATIONAL PAPER CO COM 460146103 750 21,300 SH   SOLE   21,300 0 0
INTERPUBLIC GROUP OF COS INC COM 460690100 729 42,500 SH   SOLE   42,500 0 0
INTL BUSINESS MACHINES CORP COM 459200101 894 7,400 SH   SOLE   7,400 0 0
INVESCO PLC-SPONSORED ADR SHS G491BT108 790 73,400 SH   SOLE   73,400 0 0
JM SMUCKER CO/THE-NEW COMMON COM NEW 832696405 1,005 9,500 SH   SOLE   9,500 0 0
LAZARD LTD-CL A SHS A G54050102 704 24,600 SH   SOLE   24,600 0 0
LEAR CORP COM NEW 521865204 1,188 10,900 SH   SOLE   10,900 0 0
LYONDELLBASELL INDU-CL A SHS - A - N53745100 683 10,400 SH   SOLE   10,400 0 0
MCKESSON CORP COM 58155Q103 1,151 7,500 SH   SOLE   7,500 0 0
MDC HOLDINGS INC COM 552676108 916 25,652 SH   SOLE   25,652 0 0
MERCURY GENERAL CORP COM 589400100 1,223 30,000 SH   SOLE   30,000 0 0
MERITOR INC COM 59001K100 594 30,000 SH   SOLE   30,000 0 0
METLIFE INC COM 59156R108 1,183 32,400 SH   SOLE   32,400 0 0
MICHAELS STORES INC COM 59408Q106 1,061 150,000 SH   SOLE   150,000 0 0
MKS INSTRUMENTS INC COM 55306N104 1,699 15,000 SH   SOLE   15,000 0 0
MOLSON COORS BEVERAGE CO CL B 60871R209 625 18,200 SH   SOLE   18,200 0 0
MSC INDUSTRIAL DIRECT CO-A CL A 553530106 903 12,400 SH   SOLE   12,400 0 0
NATIONAL FUEL GAS CO COM 636180101 889 21,200 SH   SOLE   21,200 0 0
NEWELL BRANDS INC COM 651229106 808 50,900 SH   SOLE   50,900 0 0
OLD REPUBLIC INTL CORP COM 680223104 714 43,800 SH   SOLE   43,800 0 0
ON SEMICONDUCTOR CORPORATION COM 682189105 1,387 70,000 SH   SOLE   70,000 0 0
OWENS-ILLINOIS INC COM 67098H104 2,047 228,000 SH   SOLE   228,000 0 0
PACCAR INC COM 693718108 928 12,400 SH   SOLE   12,400 0 0
PENSKE AUTO GROUP INC COM 70959W103 755 19,500 SH   SOLE   19,500 0 0
PRUDENTIAL FINANCIAL INC COM 744320102 889 14,600 SH   SOLE   14,600 0 0
RIO TINTO PLC-SPON ADR SPONSORED ADR 767204100 927 16,500 SH   SOLE   16,500 0 0
ROYAL DUTCH SHELL PLC ADR REPSTG B SHS SPON ADR B 780259107 499 16,400 SH   SOLE   16,400 0 0
SPORTSMAN`S WAREHOUSE HOLDIN COM 84920Y106 713 50,000 SH   SOLE   50,000 0 0
TAPESTRY INC COM 876030107 490 36,900 SH   SOLE   36,900 0 0
TEREX CORP COM 880779103 282 15,000 SH   SOLE   15,000 0 0
TIMKEN CO COM 887389104 1,592 35,000 SH   SOLE   35,000 0 0
UNITED PARCEL SERVICE-CL B CL B 911312106 934 8,400 SH   SOLE   8,400 0 0
UNITED THERAPEUTICS CORP COM 91307C102 496 4,100 SH   SOLE   4,100 0 0
USA TRUCK INC COM 902925106 775 100,000 SH   SOLE   100,000 0 0
WALGREENS BOOTS ALLIANCE INC COM 931427108 704 16,600 SH   SOLE   16,600 0 0
WESTROCK CO COM 96145D105 647 22,900 SH   SOLE   22,900 0 0
WHIRLPOOL CORP COM 963320106 855 6,600 SH   SOLE   6,600 0 0
WYNDHAM DESTINATIONS INC COM 98310W108 533 18,900 SH   SOLE   18,900 0 0