FORM 13F COVER PAGE

Report for the Calendar Year or Quarter Ended: June 30, 2010

Check here if Amendment [   ]; Amendment Number:
This Amendment (Check only one.):  [   ] is a restatement.
                                   [   ] adds new holdings entries.

Institutional Investment Manager Filing this Report:

Name:     CNA Financial Corporation
Address:  333 S. Wabash
	  Chicago,IL 60604


13F File Number:  28-346

The institutional investment manager filing this report and the
person by whom it is signed hereby represent that the person
signing the report is authorized to submit it, that all
information contained herein is true, correct, and complete, and
that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of
this form.


Person Signing this Report on Behalf of Reporting Manager:

Name: Lawrence J. Boysen
Title: Senior Vice President and Corporate Controller
Phone: (312) 822 5653
Signature, Place, and Date of Signing:

/s/ Lawrence J. Boysen             Chicago, IL                        08/16/2010
---------------------------------  ---------------------------------  ----------
[Signature]                        [City, State]                      [Date]



Assets reported herein are described as having shared
investment discretion among Loews Corporation, CNA Financial
Corporation, The Continental Corporation and Continental Casualty
Company. Each of the foregoing entities specifically disclaims
ownership of any securities in this report which are not
beneficially owned by that entity and states that such assets
are solely under the control of its board of directors. The
characterization of shared investment discretion with parent
holding companies is made solely as a consequence of SEC
interpretations regarding control of the subsidiary through
share ownership. Loews Corporation owns approximately 90%
of the outstanding shares of CNA Financial Corporation; CNA
Financial Corporation owns 100% of the outstanding shares of
The Continental Corporation; and The Continental Corporation owns
100% of the outstanding shares of Continental Casualty Company.
Loews Corporation will report separately on securities over which
it has investment discretion which are not part of this report.

Report Type (Check only one.):

 [  X ]              13F HOLDINGS REPORT.

 [    ]              13F NOTICE.

 [    ]              13F COMBINATION REPORT.

List of Other Managers Reporting for this Manager:




<Page>



FORM 13F SUMMARY PAGE

Report Summary:

Number of Other Included Managers: 3

Form 13F Information Table Entry Total: 188

Form 13F Information Table Value Total:  $765,423 (in thousands)



List of Other Included Managers:

No. 	13F File Number		 Name

1	28-217		Loews Corporation
2	28-172		The Continental Corporation
3	28-387		Continental Casualty Company

<Page>
<Table>
<Caption>

                         <c>     <c>      <c>       <c>       <c>  <c>  <c>        <c>       <c>    <c>    <c>
Column                      Column  Column   Column    Column              Column     Column    Column
1:                          2:      3:       4:        5:                  6:         7:        8:

Name                        Title                      Shares or                                Voting Authority
of                          of      CUSIP    Value     Principal SH/  Put/ Investment Other     ------------------
Issuer                      Class   Number   (x$1000)  Amount    PRN  Call Discretion Mgrs      Sole   Shared None
ABBOTT LABORATORIES         COM     002824100  772     16,500     SH       DEFINED    1,2,3            16,500
ADAPTEC INC                 COM     00651F108  329     113,900    SH       DEFINED    1,2,3           113,900
AETNA INC                   COM     00817Y108  1,541   58,400     SH       DEFINED    1,2,3            58,400
AFTERMARKET TECHNOLOGY CORP COM     00211W104  693     42,963     SH       DEFINED    1,2,3            42,963
ALCATEL-LUCENT              SPONS   013904305  1,161   457,225    SH       DEFINED    1,2,3           457,225
ALCON INC                   COM SHS H01301102  207     1,400      SH       DEFINED    1,2,3             1,400
ALLSTATE CORPORATION        COM     020002101  1,727   60,125     SH       DEFINED    1,2,3            60,125
AMERICAN EQUITY INVT LIFE   COM     025676206  1,390   134,725    SH       DEFINED    1,2,3           134,725
AMERICAN REPROGRAPHICS CO   COM     029263100  187     21,425     SH       DEFINED    1,2,3            21,425
AMGEN INC                   COM     031162100  2,998   57,000     SH       DEFINED    1,2,3            57,000
ANADARKO PETROLEUM CORP     COM     032511107  5,071   140,500    SH       DEFINED    1,2,3           140,500
ANSYS INC                   COM     03662Q105  196     4,824      SH       DEFINED    1,2,3             4,824
APACHE CORP                 COM     037411105  5,472   65,000     SH       DEFINED    1,2,3            65,000
ARGO GROUP INTERNATIONAL    COM     G0464B107  1,239   40,500     SH       DEFINED    1,2,3            40,500
ARMSTRONG WORLD INDUSTRIES  COM     04247X102  321     10,650     SH       DEFINED    1,2,3            10,650
</Table>

<Table>
<Caption>

                         <c>     <c>      <c>       <c>       <c>  <c>  <c>        <c>       <c>    <c>    <c>
Column                      Column  Column   Column    Column              Column     Column    Column
1:                          2:      3:       4:        5:                  6:         7:        8:

Name                        Title                      Shares or                                Voting Authority
of                          of      CUSIP    Value     Principal SH/  Put/ Investment Other     ------------------
Issuer                      Class   Number   (x$1000)  Amount    PRN  Call Discretion Mgrs      Sole   Shared None
ARTHUR J GALLAGHER & CO     COM     363576109  1,037   42,550     SH       DEFINED    1,2,3            42,550
ASSURANT INC                COM     04621X108  3,817   110,000    SH       DEFINED    1,2,3           110,000
AVNET INC                   COM     053807103  1,662   68,950     SH       DEFINED    1,2,3            68,950
AVON PRODUCTS  INC.         COM     054303102  1,085   40,925     SH       DEFINED    1,2,3            40,925
BALTIC TRADING              COM     Y0553W103  1,064   93,600     SH       DEFINED    1,2,3            93,600
BANK OF AMERICA CORP        COM     060505104  2,231   155,265    SH       DEFINED    1,2,3           155,265
BANK OF NEW YORK            COM     064058100  3,135   126,981    SH       DEFINED    1,2,3           126,981
BARRICK GOLD CORP           COM     067901108  5,155   113,531    SH       DEFINED    1,2,3           113,531
BAXTER INTL                 COM     071813109  3,878   95,434     SH       DEFINED    1,2,3            95,434
BLACKROCK FLORIDA INSD MUNI COM     09250G102  302     20,200     SH       DEFINED    1,2,3            20,200
BLACKROCK MUNIYIELD INSURED COM     09254E103  880     63,700     SH       DEFINED    1,2,3            63,700
BLACKROCK MUNIYIELD NY INS  COM     09255E102  325     24,900     SH       DEFINED    1,2,3            24,900
BLOUNT INTERNATIONAL INC    COM     095180105  773     75,275     SH       DEFINED    1,2,3            75,275
BOEING COMPANY              COM     097023105  1,454   23,175     SH       DEFINED    1,2,3            23,175
BP PLC                      SPONS   055622104  1,658   57,405     SH       DEFINED    1,2,3            57,405
</Table>

<Table>
<Caption>

                         <c>     <c>      <c>       <c>       <c>  <c>  <c>        <c>       <c>    <c>    <c>
Column                      Column  Column   Column    Column              Column     Column    Column
1:                          2:      3:       4:        5:                  6:         7:        8:

Name                        Title                      Shares or                                Voting Authority
of                          of      CUSIP    Value     Principal SH/  Put/ Investment Other     ------------------
Issuer                      Class   Number   (x$1000)  Amount    PRN  Call Discretion Mgrs      Sole   Shared None
BRADY CORPORATION           CL A    104674106  830     33,325     SH       DEFINED    1,2,3            33,325
CALPINE CORP                COM     131347304  1,986   156,149    SH       DEFINED    1,2,3           156,149
CAPITAL ONE FINANCIAL CORP  COM     14040H105  1,152   28,575     SH       DEFINED    1,2,3            28,575
CENOVUS ENERGY INC-W/I      COM     15135U109  1,225   47,500     SH       DEFINED    1,2,3            47,500
CHEMICAL FINANCIAL CORP     COM     163731102  608     27,925     SH       DEFINED    1,2,3            27,925
CHESAPEAKE ENERGY CORP      COM     165167107  629     30,000     SH       DEFINED    1,2,3            30,000
CIBER INC                   COM     17163B102  483     174,300    SH       DEFINED    1,2,3           174,300
CIRCOR INTERNATIONAL INC    COM     17273K109  694     27,125     SH       DEFINED    1,2,3            27,125
CISCO SYSTEMS INC           COM     17275R102  895     42,000     SH       DEFINED    1,2,3            42,000
CITIGROUP INC               COM     172967101  1,571   417,933    SH       DEFINED    1,2,3           417,933
CNA SURETY CORPORATION      COM     12612L108  440,722 27,425,147 SH       DEFINED    1,2,3        27,425,147
COCA COLA CO                COM     191216100  1,418   28,300     SH       DEFINED    1,2,3            28,300
COMCAST CORP                CL A    20030N200  4,108   250,000    SH       DEFINED    1,2,3           250,000
COMERICA                    COM     200340107  966     26,225     SH       DEFINED    1,2,3            26,225
COMPUTER ASSOCIATES INTL    COM     12673P105  1,766   95,952     SH       DEFINED    1,2,3            95,952
</Table>

<Table>
<Caption>

                         <c>     <c>      <c>       <c>       <c>  <c>  <c>        <c>       <c>    <c>    <c>
Column                      Column  Column   Column    Column              Column     Column    Column
1:                          2:      3:       4:        5:                  6:         7:        8:

Name                        Title                      Shares or                                Voting Authority
of                          of      CUSIP    Value     Principal SH/  Put/ Investment Other     ------------------
Issuer                      Class   Number   (x$1000)  Amount    PRN  Call Discretion Mgrs      Sole   Shared None
CONMED CORP                 COM     207410101  625     33,525     SH       DEFINED    1,2,3            33,525
CONSECO INC                 COM     12621E103  548     110,800    SH       DEFINED    1,2,3           110,800
CONSTELLATION ENERGY PART   CL B    21038E101  577     180,260    SH       DEFINED    1,2,3           180,260
COOPER INDUSTRIES INC       SHS     G24140108  1,299   29,525     SH       DEFINED    1,2,3            29,525
CORNING INC.                COM     219350105  565     35,000     SH       DEFINED    1,2,3            35,000
COSTCO WHOLESALE CORP       COM     22160K105  1,426   26,000     SH       DEFINED    1,2,3            26,000
CSX CORP.                   COM     126408103  1,787   36,000     SH       DEFINED    1,2,3            36,000
CURTISS-WRIGHT CORP         COM     231561101  342     11,775     SH       DEFINED    1,2,3            11,775
CVS CORP                    COM     126650100  733     25,000     SH       DEFINED    1,2,3            25,000
DEERE & CO                  COM     244199105  835     15,000     SH       DEFINED    1,2,3            15,000
DELL COMPUTER CORP          COM     24702R101  1,035   85,825     SH       DEFINED    1,2,3            85,825
DELPHI FINANCIAL GROUP      CL A    247131105  843     34,538     SH       DEFINED    1,2,3            34,538
DELTA AIR LINES INC         COM     247361702  794     67,577     SH       DEFINED    1,2,3            67,577
DEVON ENERGY CORP           COM     25179M103  7,022   115,270    SH       DEFINED    1,2,3           115,270
DIAMONDROCK HOSPITALITY CO  COM     252784301  1,054   128,171    SH       DEFINED    1,2,3           128,171
</Table>

<Table>
<Caption>

                         <c>     <c>      <c>       <c>       <c>  <c>  <c>        <c>       <c>    <c>    <c>
Column                      Column  Column   Column    Column              Column     Column    Column
1:                          2:      3:       4:        5:                  6:         7:        8:

Name                        Title                      Shares or                                Voting Authority
of                          of      CUSIP    Value     Principal SH/  Put/ Investment Other     ------------------
Issuer                      Class   Number   (x$1000)  Amount    PRN  Call Discretion Mgrs      Sole   Shared None
DIODES INC                  COM     254543101  931     58,675     SH       DEFINED    1,2,3            58,675
DU PONT DE NEMOURS E.I.     COM     263534109  917     26,500     SH       DEFINED    1,2,3            26,500
DYNEGY INC                  COM     26817G300  735     191,026    SH       DEFINED    1,2,3           191,026
EMC CORPORATION             COM     268648102  849     46,410     SH       DEFINED    1,2,3            46,410
ENCANA CORP                 COM     292505104  1,441   47,500     SH       DEFINED    1,2,3            47,500
ENSCO INTERNATIONAL INC     SPONS   29358Q109  3,358   85,500     SH       DEFINED    1,2,3            85,500
EOG RESOURCES INC           COM     26875P101  1,476   15,000     SH       DEFINED    1,2,3            15,000
EVEREST RE GROUP LTD        COM     G3223R108  1,556   22,000     SH       DEFINED    1,2,3            22,000
EXELON CORP                 COM     30161N101  38      1,000      SH       DEFINED    1,2,3             1,000
EXXON MOBIL CORP            COM     30231G102  2,254   39,500     SH       DEFINED    1,2,3            39,500
FBL FINANCIAL GROUP INC     CL A    30239F106  357     17,000     SH       DEFINED    1,2,3            17,000
FLUOR CORP                  COM     343412102  850     20,000     SH       DEFINED    1,2,3            20,000
FOREST LABORATORIES INC     COM     345838106  447     16,300     SH       DEFINED    1,2,3            16,300
FORTUNE BRANDS INC          COM     349631101  1,034   26,400     SH       DEFINED    1,2,3            26,400
GENERAL ELECTRIC CO         COM     369604103  548     38,000     SH       DEFINED    1,2,3            38,000
</Table>

<Table>
<Caption>

                         <c>     <c>      <c>       <c>       <c>  <c>  <c>        <c>       <c>    <c>    <c>
Column                      Column  Column   Column    Column              Column     Column    Column
1:                          2:      3:       4:        5:                  6:         7:        8:

Name                        Title                      Shares or                                Voting Authority
of                          of      CUSIP    Value     Principal SH/  Put/ Investment Other     ------------------
Issuer                      Class   Number   (x$1000)  Amount    PRN  Call Discretion Mgrs      Sole   Shared None
GILEAD SCIENCES INC         COM     375558103  737     21,500     SH       DEFINED    1,2,3            21,500
GOLDMAN SACHS GROUP INC     COM     38141G104  5,530   42,125     SH       DEFINED    1,2,3            42,125
GOOGLE INC                  CL A    38259P508  2,696   6,060      SH       DEFINED    1,2,3             6,060
GRACO                       COM     384109104  754     26,750     SH       DEFINED    1,2,3            26,750
GRAY TELEVISION INC         COM     389375106  2,276   944,444    SH       DEFINED    1,2,3           944,444
GRIFFON CORPORATION         COM     398433102  1,098   99,319     SH       DEFINED    1,2,3            99,319
HALOZYME THERAPEUTICS INC   COM     40637H109  301     42,688     SH       DEFINED    1,2,3            42,688
HARTE-HANKS INC             COM     416196103  1,424   136,275    SH       DEFINED    1,2,3           136,275
HARTFORD FINANCIAL SVCS GRP COM     416515104  243     10,975     SH       DEFINED    1,2,3            10,975
HEARTLAND PAYMENT SYSTEMS   COM     42235N108  434     29,275     SH       DEFINED    1,2,3            29,275
HESS CORP                   COM     42809H107  1,081   21,480     SH       DEFINED    1,2,3            21,480
HEWLETT-PACKARD CO.         COM     428236103  9,522   220,000    SH       DEFINED    1,2,3           220,000
HOME DEPOT                  COM     437076102  561     20,000     SH       DEFINED    1,2,3            20,000
HORIZON LINES INC           COM     44044K101  120     28,450     SH       DEFINED    1,2,3            28,450
HORMEL FOODS CORP           COM     440452100  81      2,000      SH       DEFINED    1,2,3             2,000
</Table>

<Table>
<Caption>

                         <c>     <c>      <c>       <c>       <c>  <c>  <c>        <c>       <c>    <c>    <c>
Column                      Column  Column   Column    Column              Column     Column    Column
1:                          2:      3:       4:        5:                  6:         7:        8:

Name                        Title                      Shares or                                Voting Authority
of                          of      CUSIP    Value     Principal SH/  Put/ Investment Other     ------------------
Issuer                      Class   Number   (x$1000)  Amount    PRN  Call Discretion Mgrs      Sole   Shared None
HOSPITALITY PROPERTIES      COM SHS 44106M102  1,473   69,800     SH       DEFINED    1,2,3            69,800
ILLINOIS TOOL WORKS INC     COM     452308109  1,032   25,000     SH       DEFINED    1,2,3            25,000
IMMUCOR INC                 COM     452526106  989     51,900     SH       DEFINED    1,2,3            51,900
INGERSOLL RAND CO           SHS     G47791101  2,494   72,300     SH       DEFINED    1,2,3            72,300
INSIGHT ENTERPRISES INC     COM     45765U103  410     31,175     SH       DEFINED    1,2,3            31,175
IBM                         COM     459200101  18,424  149,210    SH       DEFINED    1,2,3           149,210
J.C. PENNY CO INC (HLDG CO) COM     708160106  1,609   74,925     SH       DEFINED    1,2,3            74,925
JARDEN CORP                 COM     471109108  1,529   56,900     SH       DEFINED    1,2,3            56,900
JOHNSON & JOHNSON           COM     478160104  7,592   128,545    SH       DEFINED    1,2,3           128,545
JONES APPAREL GROUP INC     COM     480074103  843     53,175     SH       DEFINED    1,2,3            53,175
JPMORGAN CHASE & CO         COM     46634E114  959     75,905     SH       DEFINED    1,2,3            75,905
JPMORGAN CHASE & COMPANY    COM     46625H100  1,931   52,750     SH       DEFINED    1,2,3            52,750
KELLY SERVICES INC          CL A    488152208  780     52,471     SH       DEFINED    1,2,3            52,471
KOHLS CORP                  COM     500255104  713     15,000     SH       DEFINED    1,2,3            15,000
KRAFT FOODS                 CL A    50075N104  837     29,875     SH       DEFINED    1,2,3            29,875
</Table>

<Table>
<Caption>

                         <c>     <c>      <c>       <c>       <c>  <c>  <c>        <c>       <c>    <c>    <c>
Column                      Column  Column   Column    Column              Column     Column    Column
1:                          2:      3:       4:        5:                  6:         7:        8:

Name                        Title                      Shares or                                Voting Authority
of                          of      CUSIP    Value     Principal SH/  Put/ Investment Other     ------------------
Issuer                      Class   Number   (x$1000)  Amount    PRN  Call Discretion Mgrs      Sole   Shared None
L-3 COMMUNICATIONS CORP     COM     502424104  1,643   23,200     SH       DEFINED    1,2,3            23,200
LABORATORY CRP OF AMER      COM     50540R409  659     8,750      SH       DEFINED    1,2,3             8,750
LINCOLN NATIONAL CORP       COM     534187109  4,737   195,000    SH       DEFINED    1,2,3           195,000
MARRIOTT INTERNATIONAL      CL A    571903202  968     32,346     SH       DEFINED    1,2,3            32,346
MASCO CORPORATION           COM     574599106  1,405   130,575    SH       DEFINED    1,2,3           130,575
MASTERCARD INC              CL A    57636Q104  998     5,000      SH       DEFINED    1,2,3             5,000
MEDIACOM COMMUNICATIONS     CL A    58446K105  1,680   250,000    SH       DEFINED    1,2,3           250,000
MEDTRONIC INC               COM     585055106  73      2,000      SH       DEFINED    1,2,3             2,000
MI DEVELOPMENTS INC         CL A    55304X104  566     46,300     SH       DEFINED    1,2,3            46,300
MICROSOFT CORP              COM     594918104  2,230   96,925     SH       DEFINED    1,2,3            96,925
MOLSON COORS BREWING CO     CL B    60871R209  699     16,500     SH       DEFINED    1,2,3            16,500
MORGAN ST DEAN WITTER       COM     617446448  1,950   84,000     SH       DEFINED    1,2,3            84,000
MORGAN STANLEY QUAL MUNI    COM     46133J101  187     13,700     SH       DEFINED    1,2,3            13,700
MOTOROLA INC                COM     620076109  1,852   283,980    SH       DEFINED    1,2,3           283,980
MTS SYSTEMS CORP            COM     553777103  1,067   36,803     SH       DEFINED    1,2,3            36,803
</Table>

<Table>
<Caption>

                         <c>     <c>      <c>       <c>       <c>  <c>  <c>        <c>       <c>    <c>    <c>
Column                      Column  Column   Column    Column              Column     Column    Column
1:                          2:      3:       4:        5:                  6:         7:        8:

Name                        Title                      Shares or                                Voting Authority
of                          of      CUSIP    Value     Principal SH/  Put/ Investment Other     ------------------
Issuer                      Class   Number   (x$1000)  Amount    PRN  Call Discretion Mgrs      Sole   Shared None
NARA BANCORP INC            COM     63080P105  1,021   121,100    SH       DEFINED    1,2,3           121,100
NATIONAL GRID PLC           SPONS   636274300  1,378   37,425     SH       DEFINED    1,2,3            37,425
NATL PENN BCSHS INC         COM     637138108  825     137,250    SH       DEFINED    1,2,3           137,250
NORTHROP GRUMMAN CORP       COM     666807102  2,203   40,475     SH       DEFINED    1,2,3            40,475
OCCIDENTAL PETROLEUM        COM     674599105  6,944   90,000     SH       DEFINED    1,2,3            90,000
OMNICOM GROUP               COM     681919106  2,057   59,975     SH       DEFINED    1,2,3            59,975
ORACLE CORP                 COM     68389X105  5,365   250,000    SH       DEFINED    1,2,3           250,000
PEDIATRIX MEDICAL GROUP INC COM     58502B106  432     7,775      SH       DEFINED    1,2,3             7,775
PEPSICO INCORPORATED        COM     713448108  55      900        SH       DEFINED    1,2,3               900
PFIZER INC                  COM     717081103  8,289   581,300    SH       DEFINED    1,2,3           581,300
PHARMACEUTICAL HOLDRS TRUST DEPOSIT 71712A206  745     12,500     SH       DEFINED    1,2,3            12,500
PHH CORP                    COM     693320202  1,086   57,050     SH       DEFINED    1,2,3            57,050
PHILIP MORRIS INTERNATIONAL COM     718172109  688     15,000     SH       DEFINED    1,2,3            15,000
PIKE ELECTRIC CORP          COM     721283109  442     46,925     SH       DEFINED    1,2,3            46,925
PINNACLE WEST CAPITAL CORP  COM     723484101  710     19,540     SH       DEFINED    1,2,3            19,540
</Table>

<Table>
<Caption>

                         <c>     <c>      <c>       <c>       <c>  <c>  <c>        <c>       <c>    <c>    <c>
Column                      Column  Column   Column    Column              Column     Column    Column
1:                          2:      3:       4:        5:                  6:         7:        8:

Name                        Title                      Shares or                                Voting Authority
of                          of      CUSIP    Value     Principal SH/  Put/ Investment Other     ------------------
Issuer                      Class   Number   (x$1000)  Amount    PRN  Call Discretion Mgrs      Sole   Shared None
PITNEY-BOWES  INC           COM     724479100  2,383   108,494    SH       DEFINED    1,2,3           108,494
PLAINS EXPLORATION & PROD   COM     726505100  1,274   61,820     SH       DEFINED    1,2,3            61,820
PLANTRONICS INC             COM     727493108  819     28,650     SH       DEFINED    1,2,3            28,650
PNC FINANCIAL CORP          COM     693475105  833     14,744     SH       DEFINED    1,2,3            14,744
POPULAR INC                 COM     733174106  441     164,583    SH       DEFINED    1,2,3           164,583
PORTLAND GENERAL ELECTRIC   COM     736508847  1,436   78,325     SH       DEFINED    1,2,3            78,325
PPG INDUSTRIES              COM     693506107  945     15,650     SH       DEFINED    1,2,3            15,650
PPL CORPORATION             COM     69351T106  1,697   68,033     SH       DEFINED    1,2,3            68,033
PRAXAIR INC                 COM     74005P104  760     10,000     SH       DEFINED    1,2,3            10,000
PRIMERICA INC               COM     74164M108  317     14,775     SH       DEFINED    1,2,3            14,775
PROCTER & GAMBLE CO         COM     742718109  840     14,000     SH       DEFINED    1,2,3            14,000
PROGRESS ENERGY INC         COM     743263105  2,105   53,680     SH       DEFINED    1,2,3            53,680
PUBLIC SERVICE CO OF N MEX  COM     69349H107  687     61,475     SH       DEFINED    1,2,3            61,475
REGIS CORP                  COM     758932107  519     33,325     SH       DEFINED    1,2,3            33,325
RENAISSANCERE HOLDINGS LTD  COM     G7496G103  1,877   33,350     SH       DEFINED    1,2,3            33,350
</Table>

<Table>
<Caption>

                         <c>     <c>      <c>       <c>       <c>  <c>  <c>        <c>       <c>    <c>    <c>
Column                      Column  Column   Column    Column              Column     Column    Column
1:                          2:      3:       4:        5:                  6:         7:        8:

Name                        Title                      Shares or                                Voting Authority
of                          of      CUSIP    Value     Principal SH/  Put/ Investment Other     ------------------
Issuer                      Class   Number   (x$1000)  Amount    PRN  Call Discretion Mgrs      Sole   Shared None
RENT-A-CENTER INC           COM     76009N100  595     29,350     SH       DEFINED    1,2,3            29,350
RITE AID CORP               COM     767754104  424     432,785    SH       DEFINED    1,2,3           432,785
SCHLUMBERGER LIMITED        COM     806857108  77      1,400      SH       DEFINED    1,2,3             1,400
SEALY CORP                  COM     812139301  229     85,775     SH       DEFINED    1,2,3            85,775
SEALY CORP                  SR SECD 812139400  712     9,075      SH       DEFINED    1,2,3             9,075
SEARS HOLDINGS CORP         COM     812350106  1,129   17,465     SH       DEFINED    1,2,3            17,465
SEMPRA ENERGY               COM     816851109  1,381   29,525     SH       DEFINED    1,2,3            29,525
SHERWIN WILLIAMS CO         COM     824348106  1,136   16,425     SH       DEFINED    1,2,3            16,425
SPDR GOLD TRUST             SHS     78463V107  30,420  250,000    SH       DEFINED    1,2,3           250,000
SPHERION CORPORATION        COM     784153108  194     35,450     SH       DEFINED    1,2,3            35,450
STAPLES INC                 COM     855030102  929     48,765     SH       DEFINED    1,2,3            48,765
STARBUCKS CORP              COM     855244109  49      2,000      SH       DEFINED    1,2,3             2,000
STATE STREET CORP           COM     857477103  994     29,400     SH       DEFINED    1,2,3            29,400
SYMANTEC CORP               COM     871503108  375     27,000     SH       DEFINED    1,2,3            27,000
TALISMAN ENERGY INC         COM     87425E103  2,505   165,000    SH       DEFINED    1,2,3           165,000

</Table>

<Table>
<Caption>

                         <c>     <c>      <c>       <c>       <c>  <c>  <c>        <c>       <c>    <c>    <c>
Column                      Column  Column   Column    Column              Column     Column    Column
1:                          2:      3:       4:        5:                  6:         7:        8:

Name                        Title                      Shares or                                Voting Authority
of                          of      CUSIP    Value     Principal SH/  Put/ Investment Other     ------------------
Issuer                      Class   Number   (x$1000)  Amount    PRN  Call Discretion Mgrs      Sole   Shared None
TECH DATA CORP              COM     878237106  745     20,912     SH       DEFINED    1,2,3            20,912
THERMO FISHER SCIENTIFIC    COM     883556102  2,311   47,110     SH       DEFINED    1,2,3            47,110
THOMPSON CREEK METALS CO    COM     884768102  52      6,000      SH       DEFINED    1,2,3             6,000
TORCHMARK CORP              COM     891027104  2,110   42,625     SH       DEFINED    1,2,3            42,625
TRAVELERS COS INC/THE       COM     89417E109  4,679   95,000     SH       DEFINED    1,2,3            95,000
TYCO ELECTRONICS            SHS     H8912P106  2,385   93,975     SH       DEFINED    1,2,3            93,975
UNILEVER NV                 SHS     904784709  843     30,850     SH       DEFINED    1,2,3            30,850
UNITED NATIONAL GROUP LTD   COM     90933T109  926     125,866    SH       DEFINED    1,2,3           125,866
UNITED TECHNOLOGIES CORP.   COM     913017109  1,885   29,040     SH       DEFINED    1,2,3            29,040
UNUM CORP                   COM     91529Y106  966     44,500     SH       DEFINED    1,2,3            44,500
VALASSIS COMMUNICATIONS INC COM     918866104  811     25,575     SH       DEFINED    1,2,3            25,575
VALERO ENERGY CORP          COM     91913Y100  944     52,525     SH       DEFINED    1,2,3            52,525
VALIDUS HOLDINGS LTD        COM SHS G9319H102  1,107   45,320     SH       DEFINED    1,2,3            45,320
VIAD CORP                   COM     92552R406  643     36,418     SH       DEFINED    1,2,3            36,418
VISA INC                    CL A    92826C839  1,061   15,000     SH       DEFINED    1,2,3            15,000
</Table>

<Table>
<Caption>

                         <c>     <c>      <c>       <c>       <c>  <c>  <c>        <c>       <c>    <c>    <c>
Column                      Column  Column   Column    Column              Column     Column    Column
1:                          2:      3:       4:        5:                  6:         7:        8:

Name                        Title                      Shares or                                Voting Authority
of                          of      CUSIP    Value     Principal SH/  Put/ Investment Other     ------------------
Issuer                      Class   Number   (x$1000)  Amount    PRN  Call Discretion Mgrs      Sole   Shared None
WEBSTER FINANCIAL CORP      COM     947890109  1,023   57,000     SH       DEFINED    1,2,3            57,000
WILLIAMS COS INC            COM     969457100  2,395   131,035    SH       DEFINED    1,2,3           131,035
WSFS FINANCIAL CORP         COM     929328102  543     15,100     SH       DEFINED    1,2,3            15,100
XCEL ENERGY INC             COM     98389B100  2,057   99,830     SH       DEFINED    1,2,3            99,830
XERIUM TECHNOLOGIES INC     COM     98416J118  4,483   317,500    SH       DEFINED    1,2,3           317,500
XEROX CORP                  COM     984121103  4,744   590,000    SH       DEFINED    1,2,3           590,000
ZIMMER HOLDINGS INC         COM     98956P102  1,169   21,625     SH       DEFINED    1,2,3            21,625
ZORAN CORP                  COM     98975F101  937     98,244     SH       DEFINED    1,2,3            98,244
</Table>