FORM 13F COVER PAGE

Report for the Calendar Year or Quarter Ended: September 30, 2012

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                        11/14/2012
---------------------------------  ---------------------------------  ----------
[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: 170

Form 13F Information Table Value Total:  $398,908 (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  3,082   44,950     SH       DEFINED    1,2,3            44,950
ACTUANT CORP                CL A    00508X203  1,563   54,600     SH       DEFINED    1,2,3            54,600
AEROPOSTALE INC             COM     007865108  1,069   79,000     SH       DEFINED    1,2,3            79,000
ALLEGHENY TECHNOLOGIES INC  COM     01741R102  797     24,995     SH       DEFINED    1,2,3            24,995
ALLSTATE CORPORATION        COM     020002101  2,494   62,975     SH       DEFINED    1,2,3            62,975
AMERICAN EQUITY INVT LIFE   COM     025676206  1,081   92,925     SH       DEFINED    1,2,3            92,925
AMERICAN INTERNATIONAL GRP  COM     026874784  1,849   56,400     SH       DEFINED    1,2,3            56,400
AMERICAN REPROGRAPHICS CO   COM     029263100  557     130,375    SH       DEFINED    1,2,3           130,375
AMGEN INC                   COM     031162100  4,215   50,000     SH       DEFINED    1,2,3            50,000
ANADARKO PETROLEUM CORP     COM     032511107  11,762  168,225    SH       DEFINED    1,2,3           168,225
APACHE CORP                 COM     037411105  5,621   65,000     SH       DEFINED    1,2,3            65,000
APOLLO GROUP INC            CL A    037604105  1,714   59,000     SH       DEFINED    1,2,3            59,000
ARGAN INC                   COM     04010E109  216     12,377     SH       DEFINED    1,2,3            12,377
ARGO GROUP INTERNATIONAL    COM     G0464B107  1,469   45,350     SH       DEFINED    1,2,3            45,350
ARRIS GROUP INC             COM     04269Q100  368     28,800     SH       DEFINED    1,2,3            28,800
</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
ARTIO GLOBAL INVESTORS INC  CL A    04315B107  202     67,700     SH       DEFINED    1,2,3            67,700
ASPEN INSURANCE HOLDINGS    SHS     G05384105  1,232   40,400     SH       DEFINED    1,2,3            40,400
ASSURANT INC                COM     04621X108  3,506   94,000     SH       DEFINED    1,2,3            94,000
AVNET INC                   COM     053807103  3,147   108,175    SH       DEFINED    1,2,3           108,175
BAKER HUGHES INC            COM     057224107  1,549   34,250     SH       DEFINED    1,2,3            34,250
BANK OF AMERICA CORP        COM     060505104  1,002   113,425    SH       DEFINED    1,2,3           113,425
BANK OF NEW YORK            COM     064058100  3,417   151,082    SH       DEFINED    1,2,3           151,082
BARRICK GOLD CORP           COM     067901108  3,381   80,951     SH       DEFINED    1,2,3            80,951
BBCN BANCORP INC            COM     073295107  1,513   120,000    SH       DEFINED    1,2,3           120,000
BECTON DICKINSON & CO       COM     075887109  1,567   19,950     SH       DEFINED    1,2,3            19,950
BLUEKNIGHT ENERGY PARTNERS  COM     09625U109  1,288   207,010    SH       DEFINED    1,2,3           207,010
BP PLC                      SPONS   055622104  2,356   55,614     SH       DEFINED    1,2,3            55,614
BRADY CORPORATION           CL A    104674106  1,938   66,200     SH       DEFINED    1,2,3            66,200
CABOT OIL & GAS CORP        COM     127097103  1,414   31,500     SH       DEFINED    1,2,3            31,500
CAL DIVE INTERNATIONAL INC  COM     12802T101  287     187,400    SH       DEFINED    1,2,3           187,400
</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
CALLAWAY GOLF COMPANY       COM     131193104  176     28,600     SH       DEFINED    1,2,3            28,600
CANADIAN NATURAL RESOURCES  COM     136385101  616     20,000     SH       DEFINED    1,2,3            20,000
CAPITAL LEASE FUNDING INC   COM     140288101  998     192,981    SH       DEFINED    1,2,3           192,981
CAPITAL PRODUCT PARTNERS    COM     Y11082107  2,068   253,100    SH       DEFINED    1,2,3           253,100
CARPENTER TECHNOLOGY        COM     144285103  324     6,200      SH       DEFINED    1,2,3             6,200
CASH AMERICA INTL INC       COM     14754D100  228     5,900      SH       DEFINED    1,2,3             5,900
CASTLE (A.M.) & CO          COM     148411101  513     41,100     SH       DEFINED    1,2,3            41,100
CIRCOR INTERNATIONAL INC    COM     17273K109  1,194   31,625     SH       DEFINED    1,2,3            31,625
CITIGROUP INC               COM     172967424  5,495   167,949    SH       DEFINED    1,2,3           167,949
CNO FINANCIAL GROUP INC     COM     12621E103  1,434   148,600    SH       DEFINED    1,2,3           148,600
COCA COLA CO                COM     191216100  630     16,600     SH       DEFINED    1,2,3            16,600
COMCAST CORP                CL A    20030N200  8,703   250,000    SH       DEFINED    1,2,3           250,000
CON-WAY INC                 COM     205944101  1,300   47,500     SH       DEFINED    1,2,3            47,500
CURTISS-WRIGHT CORP         COM     231561101  1,055   32,275     SH       DEFINED    1,2,3            32,275
DELL COMPUTER CORP          COM     24702R101  1,436   145,675    SH       DEFINED    1,2,3           145,675
</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
DELPHI AUTOMOTIVE PLC       SHS     G27823106  1,714   55,300     SH       DEFINED    1,2,3            55,300
DENBURY RESOURCES INC       COM     247916208  2,505   155,000    SH       DEFINED    1,2,3           155,000
DEVON ENERGY CORP           COM     25179M103  4,870   80,500     SH       DEFINED    1,2,3            80,500
DEVRY INC                   COM     251893103  597     26,250     SH       DEFINED    1,2,3            26,250
DIAMONDROCK HOSPITALITY CO  COM     252784301  1,234   128,171    SH       DEFINED    1,2,3           128,171
DIODES INC                  COM     254543101  1,202   70,675     SH       DEFINED    1,2,3            70,675
ENGILITY HOLDINGS INC       COM     29285W104  616     33,379     SH       DEFINED    1,2,3            33,379
ENSCO INTERNATIONAL INC     CL A    G3157S106  3,274   60,000     SH       DEFINED    1,2,3            60,000
ENTERGY CORP                COM     29364G103  1,935   27,925     SH       DEFINED    1,2,3            27,925
EOG RESOURCES INC           COM     26875P101  1,121   10,000     SH       DEFINED    1,2,3            10,000
EXXON MOBIL CORP            COM     30231G102  2,005   21,925     SH       DEFINED    1,2,3            21,925
EZCORP INC                  CL A    302301106  559     24,400     SH       DEFINED    1,2,3            24,400
FEDEX CORPORATION           COM     31428X106  7,066   83,500     SH       DEFINED    1,2,3            83,500
FIRST AMERICAN FINANCIAL    COM     31847R102  686     31,675     SH       DEFINED    1,2,3            31,675
FORTUNE BRANDS HOME & SEC   COM     34964C106  4,237   156,864    SH       DEFINED    1,2,3           156,864
</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
FRANKLIN RESOURCES INC      COM     354613101  1,229   9,825      SH       DEFINED    1,2,3             9,825
GENERAL MOTORS              WARRANT 37045V118  752     54,576     SH       DEFINED    1,2,3            54,576
GENON ENERGY INC            COM     37244E107  924     365,157    SH       DEFINED    1,2,3           365,157
GLOBAL CASH ACCESS INC      COM     378967103  1,261   156,616    SH       DEFINED    1,2,3           156,616
GOLDMAN SACHS GROUP INC     COM     38141G104  1,563   13,750     SH       DEFINED    1,2,3            13,750
GOOGLE INC                  CL A    38259P508  3,010   3,990      SH       DEFINED    1,2,3             3,990
GRANITE REAL ESTATE INC     COM     387431109  1,041   29,000     SH       DEFINED    1,2,3            29,000
GRAY TELEVISION INC         COM     389375106  573     251,444    SH       DEFINED    1,2,3           251,444
GREAT PLAINS ENERGY INC     COM     391164100  396     17,800     SH       DEFINED    1,2,3            17,800
GRIFFON CORPORATION         COM     398433102  1,302   126,419    SH       DEFINED    1,2,3           126,419
HALOZYME THERAPEUTICS INC   COM     40637H109  283     37,525     SH       DEFINED    1,2,3            37,525
HARSCO CORP                 COM     415864107  1,222   59,500     SH       DEFINED    1,2,3            59,500
HARTE-HANKS INC             COM     416196103  1,363   196,750    SH       DEFINED    1,2,3           196,750
HERMAN MILLER INC           COM     600544100  526     27,075     SH       DEFINED    1,2,3            27,075
HESS CORP                   COM     42809H107  1,539   28,645     SH       DEFINED    1,2,3            28,645
</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
HEWLETT-PACKARD CO          COM     428236103  5,867   343,888    SH       DEFINED    1,2,3           343,888
HOSPITALITY PROPERTIES      COM     44106M102  2,204   92,700     SH       DEFINED    1,2,3            92,700
HUNTINGTON INGALLS IND      COM     446413106  1,022   24,300     SH       DEFINED    1,2,3            24,300
ICONIX BRAND GROUP INC      COM     451055107  744     40,800     SH       DEFINED    1,2,3            40,800
INGERSOLL RAND CO           SHS     G47791101  1,907   42,555     SH       DEFINED    1,2,3            42,555
INGRAM MICRO INC            CL A    457153104  911     59,836     SH       DEFINED    1,2,3            59,836
INNOSPEC INC                COM     45768S105  729     21,498     SH       DEFINED    1,2,3            21,498
INSIGHT ENTERPRISES INC     COM     45765U103  938     53,703     SH       DEFINED    1,2,3            53,703
INTERNATIONAL BUSINESS MACH COM     459200101  22,240  107,205    SH       DEFINED    1,2,3           107,205
INTERVAL LEISURE GROUP      COM     46113M108  292     15,435     SH       DEFINED    1,2,3            15,435
INVESCO LTD                 SHS     G491BT108  1,983   79,350     SH       DEFINED    1,2,3            79,350
JAKKS PACIFIC INC           COM     47012E106  934     64,106     SH       DEFINED    1,2,3            64,106
JOHNSON & JOHNSON           COM     478160104  4,927   71,505     SH       DEFINED    1,2,3            71,505
JONES APPAREL GROUP INC     COM     48020T101  1,841   143,075    SH       DEFINED    1,2,3           143,075
JPMORGAN CHASE & COMPANY    COM     46625H100  5,512   136,175    SH       DEFINED    1,2,3           136,175
</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
KAISER ALUMINUM CORP        COM     483007704  444     7,600      SH       DEFINED    1,2,3             7,600
KAPSTONE PAPER & PACKAGING  COM     48562P103  405     18,100     SH       DEFINED    1,2,3            18,100
L-3 COMMUNICATIONS CORP     COM     502424104  2,067   28,825     SH       DEFINED    1,2,3            28,825
LEGG MASON INC              COM     524901105  2,795   113,264    SH       DEFINED    1,2,3           113,264
LENNAR CORP                 CL B    526057302  371     13,780     SH       DEFINED    1,2,3            13,780
LEXMARK INTL GROUP INC      CL A    529771107  392     17,600     SH       DEFINED    1,2,3            17,600
LIFE TECHNOLOGIES CORP      COM     53217V109  678     13,880     SH       DEFINED    1,2,3            13,880
LINCOLN NATIONAL CORP IND   COM     534187109  4,354   180,000    SH       DEFINED    1,2,3           180,000
MASCO CORPORATION           COM     574599106  1,595   105,950    SH       DEFINED    1,2,3           105,950
MATTHEWS INTL CORP          CL A    577128101  559     18,750     SH       DEFINED    1,2,3            18,750
MEDTRONIC INC               COM     585055106  2,115   49,045     SH       DEFINED    1,2,3            49,045
MERCK & CO. INC.            COM     58933Y105  5,338   118,382    SH       DEFINED    1,2,3           118,382
METLIFE INC                 COM     59156R108  4,838   140,400    SH       DEFINED    1,2,3           140,400
MICROSOFT CORP              COM     594918104  14,940  502,005    SH       DEFINED    1,2,3           502,005
MILLER INDUSTRIES INC/TENN  COM     600551204  176     10,962     SH       DEFINED    1,2,3            10,962
</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
MOHAWK INDUSTRIES INC       COM     608190104  1,900   23,750     SH       DEFINED    1,2,3            23,750
MONSTER WORLDWIDE INC       COM     611742107  939     128,050    SH       DEFINED    1,2,3           128,050
MORGAN ST DEAN WITTER DISC  COM     617446448  1,229   73,425     SH       DEFINED    1,2,3            73,425
MUELLER WATER PRODUCTS INC  COM     624758108  1,341   273,775    SH       DEFINED    1,2,3           273,775
NATL PENN BCSHS INC         COM     637138108  1,152   126,475    SH       DEFINED    1,2,3           126,475
NELNET INC-CL A             CL A    64031N108  344     14,500     SH       DEFINED    1,2,3            14,500
NISOURCE INC                COM     65473P105  1,877   73,680     SH       DEFINED    1,2,3            73,680
NORTHROP GRUMMAN CORP       COM     666807102  2,355   35,450     SH       DEFINED    1,2,3            35,450
NV ENERGY INC               COM     67073Y106  465     25,800     SH       DEFINED    1,2,3            25,800
OCCIDENTAL PETROLEUM        COM     674599105  7,745   90,000     SH       DEFINED    1,2,3            90,000
OFFICEMAX INC               COM     67622P101  467     59,760     SH       DEFINED    1,2,3            59,760
OMNICOM GROUP               COM     681919106  1,526   29,600     SH       DEFINED    1,2,3            29,600
ORACLE CORP                 COM     68389X105  12,209  388,065    SH       DEFINED    1,2,3           388,065
OVERHILL FARMS INC          COM     690212105  160     34,918     SH       DEFINED    1,2,3            34,918
OWENS CORNING               COM     690742101  1,984   59,300     SH       DEFINED    1,2,3            59,300
</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
PACIFIC ETHANOL INC         COM     69423U206  387     992,389    SH       DEFINED    1,2,3           992,389
PAR PHARMACEUTICAL COS INC  COM     69888P106  410     8,200      SH       DEFINED    1,2,3             8,200
PARK STERLING CORP          COM     70086Y105  454     91,866     SH       DEFINED    1,2,3            91,866
PARTNERRE LTD               COM     G6852T105  2,067   27,825     SH       DEFINED    1,2,3            27,825
PFIZER INC                  COM     717081103  6,213   250,000    SH       DEFINED    1,2,3           250,000
PHH CORP                    COM     693320202  1,473   72,375     SH       DEFINED    1,2,3            72,375
PHOTOMEDEX INC              COM     719358301  1,473   104,770    SH       DEFINED    1,2,3           104,770
PIKE ELECTRIC CORP          COM     721283109  459     57,750     SH       DEFINED    1,2,3            57,750
PIONEER NATURAL RESOURCES   COM     723787107  4,176   40,000     SH       DEFINED    1,2,3            40,000
PITNEY-BOWES  INC           COM     724479100  1,457   105,436    SH       DEFINED    1,2,3           105,436
PNC FINANCIAL CORP          COM     693475105  1,607   25,469     SH       DEFINED    1,2,3            25,469
PRIMERICA INC               COM     74164M108  1,264   44,131     SH       DEFINED    1,2,3            44,131
PROTECTIVE LIFE CORP        COM     743674103  480     18,300     SH       DEFINED    1,2,3            18,300
RALCORP HOLDINGS INC        COM     751028101  875     11,980     SH       DEFINED    1,2,3            11,980
RENT-A-CENTER INC           COM     76009N100  1,226   34,975     SH       DEFINED    1,2,3            34,975
</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
RENTECH NITROGEN PARTNERS   COM     760113100  3,876   100,000    SH       DEFINED    1,2,3           100,000
ROWAN COS INC               CL A    G7665A101  2,533   75,000     SH       DEFINED    1,2,3            75,000
ROYAL DUTCH SHELL PLC       SPONS   780259206  2,517   36,266     SH       DEFINED    1,2,3            36,266
SEARS HOLDINGS CORP         COM     812350106  969     17,465     SH       DEFINED    1,2,3            17,465
SEARS HOMETOWN AND OUTLET   RIGHT   812350114  31      17,465     SH       DEFINED    1,2,3            17,465
SKECHERS USA INC            CL A    830566105  919     45,067     SH       DEFINED    1,2,3            45,067
SPDR GOLD TRUST             SHS     78463V107  42,973  250,000    SH       DEFINED    1,2,3           250,000
STAPLES INC                 COM     855030102  6,005   521,297    SH       DEFINED    1,2,3           521,297
STATE STREET CORP           COM     857477103  1,695   40,400     SH       DEFINED    1,2,3            40,400
SUPERIOR ENERGY SERVICES INCCOM     868157108  207     10,100     SH       DEFINED    1,2,3            10,100
SYNOVUS FINANCIAL CORP      COM     87161C105  189     79,550     SH       DEFINED    1,2,3            79,550
TCF FINANCIAL CORP          COM     872275102  1,286   107,675    SH       DEFINED    1,2,3           107,675
TE CONNECTIVITY LTD         REG SHS H84989104  1,873   55,075     SH       DEFINED    1,2,3            55,075
TENET HEALTHCARE CORP       COM     88033G100  219     34,900     SH       DEFINED    1,2,3            34,900
THERMO FISHER SCIENTIFIC    COM     883556102  1,921   32,653     SH       DEFINED    1,2,3            32,653
</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
THOR INDUSTRIES INC         COM     885160101  1,261   34,725     SH       DEFINED    1,2,3            34,725
TRAVELERS COS INC           COM     89417E109  9,556   140,000    SH       DEFINED    1,2,3           140,000
TUPPERWARE CORP             COM     899896104  380     7,100      SH       DEFINED    1,2,3             7,100
TUTOR PERINI CORP           COM     901109108  758     66,250     SH       DEFINED    1,2,3            66,250
UFP TECHNOLOGIES INC        COM     902673102  338     19,243     SH       DEFINED    1,2,3            19,243
UNITED CONTINENTAL HOLDINGS COM     910047109  1,017   52,130     SH       DEFINED    1,2,3            52,130
UNITED STATIONERS INC       COM     913004107  1,530   58,700     SH       DEFINED    1,2,3            58,700
UNUM CORP                   COM     91529Y106  855     44,500     SH       DEFINED    1,2,3            44,500
URANIUM ENERGY CORP         COM     916896103  811     310,700    SH       DEFINED    1,2,3           310,700
URS CORP                    COM     903236107  557     15,775     SH       DEFINED    1,2,3            15,775
VALASSIS COMMUNICATIONS INC COM     918866104  2,155   87,300     SH       DEFINED    1,2,3            87,300
VCA ANTECH INC              COM     918194101  1,519   77,025     SH       DEFINED    1,2,3            77,025
VIRTUS INVESTMENT PARTNERS  COM     92828Q109  1,686   19,600     SH       DEFINED    1,2,3            19,600
WEBSTER FINANCIAL CORP      COM     947890109  1,351   57,000     SH       DEFINED    1,2,3            57,000
WET SEAL INC                CL A    961840105  230     72,900     SH       DEFINED    1,2,3            72,900
</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
WPX ENERGY INC              COM     98212B103  2,085   125,702    SH       DEFINED    1,2,3           125,702
WSFS FINANCIAL CORP         COM     929328102  623     15,100     SH       DEFINED    1,2,3            15,100
XEROX CORP                  COM     984121103  5,737   781,555    SH       DEFINED    1,2,3           781,555
XL GROUP PLC                SHS     G98290102  932     38,800     SH       DEFINED    1,2,3            38,800
YAHOO! INC                  COM     984332106  3,049   190,866    SH       DEFINED    1,2,3           190,866
</Table>