<SEC-DOCUMENT>0001140361-13-039916.txt : 20131030
<SEC-HEADER>0001140361-13-039916.hdr.sgml : 20131030
<ACCEPTANCE-DATETIME>20131030100939
ACCESSION NUMBER:		0001140361-13-039916
CONFORMED SUBMISSION TYPE:	13F-HR
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20130930
FILED AS OF DATE:		20131030
DATE AS OF CHANGE:		20131030
EFFECTIVENESS DATE:		20131030

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HENNESSY ADVISORS INC
		CENTRAL INDEX KEY:			0001145255
		STANDARD INDUSTRIAL CLASSIFICATION:	INVESTMENT ADVICE [6282]
		IRS NUMBER:				680176227
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		13F-HR
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	028-06715
		FILM NUMBER:		131178031

	BUSINESS ADDRESS:	
		STREET 1:		7250 REDWOOD BLVD.
		STREET 2:		SUITE 200
		CITY:			NOVATO
		STATE:			CA
		ZIP:			94945
		BUSINESS PHONE:		415-899-1555

	MAIL ADDRESS:	
		STREET 1:		7250 REDWOOD BLVD.
		STREET 2:		SUITE 200
		CITY:			NOVATO
		STATE:			CA
		ZIP:			94945
</SEC-HEADER>
<DOCUMENT>
<TYPE>13F-HR
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?>
<edgarSubmission xmlns="http://www.sec.gov/edgar/thirteenffiler" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>13F-HR</submissionType>
    <filerInfo>
      <liveTestFlag>LIVE</liveTestFlag>
      <flags>
        <confirmingCopyFlag>false</confirmingCopyFlag>
        <returnCopyFlag>true</returnCopyFlag>
        <overrideInternetFlag>false</overrideInternetFlag>
      </flags>
      <filer>
        <credentials>
          <cik>0001145255</cik>
          <ccc>XXXXXXXX</ccc>
        </credentials>
      </filer>
      <periodOfReport>09-30-2013</periodOfReport>
    </filerInfo>
  </headerData>
  <formData>
    <coverPage>
      <reportCalendarOrQuarter>09-30-2013</reportCalendarOrQuarter>
      <filingManager>
        <name>HENNESSY ADVISORS INC</name>
        <address>
          <com:street1>7250 REDWOOD BLVD.</com:street1>
          <com:street2>SUITE 200</com:street2>
          <com:city>NOVATO</com:city>
          <com:stateOrCountry>CA</com:stateOrCountry>
          <com:zipCode>94945</com:zipCode>
        </address>
      </filingManager>
      <reportType>13F HOLDINGS REPORT</reportType>
      <form13FFileNumber>028-06715</form13FFileNumber>
      <provideInfoForInstruction5>N</provideInfoForInstruction5>
    </coverPage>
    <signatureBlock>
      <name>Teresa M. Nilsen</name>
      <title>Executive Vice President and Chief Financial Officer</title>
      <phone>415-899-1555</phone>
      <signature>/s/ Teresa M. Nilsen</signature>
      <city>Novato</city>
      <stateOrCountry>CA</stateOrCountry>
      <signatureDate>10-16-2013</signatureDate>
    </signatureBlock>
    <summaryPage>
      <otherIncludedManagersCount>0</otherIncludedManagersCount>
      <tableEntryTotal>324</tableEntryTotal>
      <tableValueTotal>2210429</tableValueTotal>
      <isConfidentialOmitted>false</isConfidentialOmitted>
    </summaryPage>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>INFORMATION TABLE
<SEQUENCE>2
<FILENAME>form13fInfoTable.xml
<TEXT>
<XML>
<informationTable xmlns="http://www.sec.gov/edgar/document/thirteenf/informationtable">		<infoTable>
			<nameOfIssuer>ADVANCE AUTO PARTS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>00751Y106</cusip>
			<value>1844</value>
			<shrsOrPrnAmt>
				<sshPrnamt>22300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>22300</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AGL RES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>001204106</cusip>
			<value>31366</value>
			<shrsOrPrnAmt>
				<sshPrnamt>681416</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>681416</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ALASKA AIR GROUP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>011659109</cusip>
			<value>6425</value>
			<shrsOrPrnAmt>
				<sshPrnamt>102600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>102600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ALEXION PHARMACEUTICALS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>015351109</cusip>
			<value>247</value>
			<shrsOrPrnAmt>
				<sshPrnamt>2130</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>2130</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ALLIANT ENERGY CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>018802108</cusip>
			<value>2857</value>
			<shrsOrPrnAmt>
				<sshPrnamt>57654</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>57654</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ALLIANT TECHSYSTEMS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>018804104</cusip>
			<value>6537</value>
			<shrsOrPrnAmt>
				<sshPrnamt>67000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>67000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ALTRIA GROUP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>02209S103</cusip>
			<value>2576</value>
			<shrsOrPrnAmt>
				<sshPrnamt>75000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>75000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AMEREN CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>023608102</cusip>
			<value>4525</value>
			<shrsOrPrnAmt>
				<sshPrnamt>129890</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>129890</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AMERICAN AXLE &amp; MFG HLDGS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>024061103</cusip>
			<value>6494</value>
			<shrsOrPrnAmt>
				<sshPrnamt>329300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>329300</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AMERICAN CAP LTD COM</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>02503Y103</cusip>
			<value>2200</value>
			<shrsOrPrnAmt>
				<sshPrnamt>160000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>160000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AMERICAN EQTY INVT LIFE HLD</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>025676206</cusip>
			<value>6587</value>
			<shrsOrPrnAmt>
				<sshPrnamt>310400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>310400</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AMERICAN EXPRESS CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>025816109</cusip>
			<value>378</value>
			<shrsOrPrnAmt>
				<sshPrnamt>5000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>5000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AMERICAN INTL GROUP INC</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>026874784</cusip>
			<value>9624</value>
			<shrsOrPrnAmt>
				<sshPrnamt>197900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>197900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AMERICAN WOODMARK CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>030506109</cusip>
			<value>4726</value>
			<shrsOrPrnAmt>
				<sshPrnamt>136400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>136400</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AMTRUST FINL SVCS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>032359309</cusip>
			<value>6488</value>
			<shrsOrPrnAmt>
				<sshPrnamt>166100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>166100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>APOGEE ENTERPRISES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>037598109</cusip>
			<value>5136</value>
			<shrsOrPrnAmt>
				<sshPrnamt>173037</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>173037</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>APPLE INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>037833100</cusip>
			<value>1454</value>
			<shrsOrPrnAmt>
				<sshPrnamt>3050</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>3050</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ARCELORMITTAL SA LUXEMBOURG</nameOfIssuer>
			<titleOfClass>NY REGISTRY SH</titleOfClass>
			<cusip>03938L104</cusip>
			<value>2005</value>
			<shrsOrPrnAmt>
				<sshPrnamt>146700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>146700</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ASTORIA FINL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>046265104</cusip>
			<value>7899</value>
			<shrsOrPrnAmt>
				<sshPrnamt>635000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>635000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AT&amp;T INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>00206R102</cusip>
			<value>8345</value>
			<shrsOrPrnAmt>
				<sshPrnamt>246750</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>246750</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ATMOS ENERGY CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>049560105</cusip>
			<value>27780</value>
			<shrsOrPrnAmt>
				<sshPrnamt>652262</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>652262</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AUTOMATIC DATA PROCESSING INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>053015103</cusip>
			<value>3062</value>
			<shrsOrPrnAmt>
				<sshPrnamt>42300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>42300</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AUTOZONE INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>053332102</cusip>
			<value>1902</value>
			<shrsOrPrnAmt>
				<sshPrnamt>4500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>4500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AVERY DENNISON CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>053611109</cusip>
			<value>4713</value>
			<shrsOrPrnAmt>
				<sshPrnamt>108300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>108300</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AVIS BUDGET GROUP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>053774105</cusip>
			<value>12011</value>
			<shrsOrPrnAmt>
				<sshPrnamt>416600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>416600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AVISTA CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>05379B107</cusip>
			<value>2058</value>
			<shrsOrPrnAmt>
				<sshPrnamt>77972</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>77972</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>AXIALL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>05463D100</cusip>
			<value>2751</value>
			<shrsOrPrnAmt>
				<sshPrnamt>72800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>72800</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BANCO SANTANDER SA</nameOfIssuer>
			<titleOfClass>ADR</titleOfClass>
			<cusip>05964H105</cusip>
			<value>2533</value>
			<shrsOrPrnAmt>
				<sshPrnamt>310000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>310000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BANCORP INC DEL</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>05969A105</cusip>
			<value>5848</value>
			<shrsOrPrnAmt>
				<sshPrnamt>330000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>330000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BANK OF AMERICA CORPORATION</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>060505104</cusip>
			<value>4016</value>
			<shrsOrPrnAmt>
				<sshPrnamt>291000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>291000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BANKUNITED INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>06652K103</cusip>
			<value>9981</value>
			<shrsOrPrnAmt>
				<sshPrnamt>320000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>320000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BANNER CORP</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>06652V208</cusip>
			<value>9540</value>
			<shrsOrPrnAmt>
				<sshPrnamt>250000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>250000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BAXTER INTL INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>071813109</cusip>
			<value>1627</value>
			<shrsOrPrnAmt>
				<sshPrnamt>24775</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>24775</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BEACON ROOFING SUPPLY INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>073685109</cusip>
			<value>4152</value>
			<shrsOrPrnAmt>
				<sshPrnamt>112600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>112600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BED BATH &amp; BEYOND INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>075896100</cusip>
			<value>2158</value>
			<shrsOrPrnAmt>
				<sshPrnamt>27900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>27900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BERKSHIRE HATHAWAY INC</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>084670108</cusip>
			<value>5624</value>
			<shrsOrPrnAmt>
				<sshPrnamt>33</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>33</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BLACK HILLS CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>092113109</cusip>
			<value>3096</value>
			<shrsOrPrnAmt>
				<sshPrnamt>62100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>62100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BLACKSTONE GROUP L P</nameOfIssuer>
			<titleOfClass>COM UNIT LTD</titleOfClass>
			<cusip>09253U108</cusip>
			<value>3609</value>
			<shrsOrPrnAmt>
				<sshPrnamt>145000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>145000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BOEING CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>097023105</cusip>
			<value>2573</value>
			<shrsOrPrnAmt>
				<sshPrnamt>21900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>21900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BP PLC</nameOfIssuer>
			<titleOfClass>SPONSORED ADR</titleOfClass>
			<cusip>055622104</cusip>
			<value>2408</value>
			<shrsOrPrnAmt>
				<sshPrnamt>57300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>57300</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BRISTOL MYERS SQUIBB CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>110122108</cusip>
			<value>3216</value>
			<shrsOrPrnAmt>
				<sshPrnamt>69500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>69500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BROOKDALE SR LIVING INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>112463104</cusip>
			<value>3987</value>
			<shrsOrPrnAmt>
				<sshPrnamt>151600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>151600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BROOKLINE BANCORP INC DEL</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>11373M107</cusip>
			<value>1459</value>
			<shrsOrPrnAmt>
				<sshPrnamt>155000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>155000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>BRUNSWICK CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>117043109</cusip>
			<value>11374</value>
			<shrsOrPrnAmt>
				<sshPrnamt>285000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>285000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CABELAS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>126804301</cusip>
			<value>5660</value>
			<shrsOrPrnAmt>
				<sshPrnamt>89800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>89800</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CALUMET SPECIALTY PRODS PTNRS</nameOfIssuer>
			<titleOfClass>UT LTD PARTNER</titleOfClass>
			<cusip>131476103</cusip>
			<value>3269</value>
			<shrsOrPrnAmt>
				<sshPrnamt>119800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>119800</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CAMPBELL SOUP CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>134429109</cusip>
			<value>1848</value>
			<shrsOrPrnAmt>
				<sshPrnamt>45400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>45400</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CAPITAL BK FINL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>139794101</cusip>
			<value>3841</value>
			<shrsOrPrnAmt>
				<sshPrnamt>175000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>175000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CAPITAL ONE FINL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>14040H105</cusip>
			<value>4124</value>
			<shrsOrPrnAmt>
				<sshPrnamt>60000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>60000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CAPITALSOURCE INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>14055X102</cusip>
			<value>5584</value>
			<shrsOrPrnAmt>
				<sshPrnamt>470000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>470000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CARDINAL HEALTH INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>14149Y108</cusip>
			<value>2023</value>
			<shrsOrPrnAmt>
				<sshPrnamt>38800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>38800</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CARLISLE COS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>142339100</cusip>
			<value>4477</value>
			<shrsOrPrnAmt>
				<sshPrnamt>63700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>63700</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CATAMARAN CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>148887102</cusip>
			<value>3708</value>
			<shrsOrPrnAmt>
				<sshPrnamt>80700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>80700</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CATERPILLAR INC DEL</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>149123101</cusip>
			<value>1534</value>
			<shrsOrPrnAmt>
				<sshPrnamt>18400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>18400</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CELADON GROUP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>150838100</cusip>
			<value>3904</value>
			<shrsOrPrnAmt>
				<sshPrnamt>209100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>209100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CENTERPOINT ENERGY INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>15189T107</cusip>
			<value>26468</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1104226</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1104226</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CENTURYLINK INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>156700106</cusip>
			<value>1955</value>
			<shrsOrPrnAmt>
				<sshPrnamt>62300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>62300</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CF INDS HLDGS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>125269100</cusip>
			<value>1687</value>
			<shrsOrPrnAmt>
				<sshPrnamt>8000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>8000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CHENIERE ENERGY INC</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>16411R208</cusip>
			<value>56386</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1651617</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1651617</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CHESAPEAKE UTILS CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>165303108</cusip>
			<value>2733</value>
			<shrsOrPrnAmt>
				<sshPrnamt>52068</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>52068</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CHEVRON CORP NEW</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>166764100</cusip>
			<value>9574</value>
			<shrsOrPrnAmt>
				<sshPrnamt>78800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>78800</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CIENA CORP</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>171779309</cusip>
			<value>6507</value>
			<shrsOrPrnAmt>
				<sshPrnamt>260500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>260500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CIGNA CORPORATION</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>125509109</cusip>
			<value>5449</value>
			<shrsOrPrnAmt>
				<sshPrnamt>70900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>70900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CISCO SYS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>17275R102</cusip>
			<value>641</value>
			<shrsOrPrnAmt>
				<sshPrnamt>27350</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>27350</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CIT GROUP INC</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>125581801</cusip>
			<value>3853</value>
			<shrsOrPrnAmt>
				<sshPrnamt>79000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>79000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CITIGROUP INC</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>172967424</cusip>
			<value>4123</value>
			<shrsOrPrnAmt>
				<sshPrnamt>85000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>85000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CMS ENERGY CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>125896100</cusip>
			<value>14190</value>
			<shrsOrPrnAmt>
				<sshPrnamt>539148</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>539148</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>COMERICA INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>200340107</cusip>
			<value>2555</value>
			<shrsOrPrnAmt>
				<sshPrnamt>65000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>65000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>COMPUTER SCIENCES CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>205363104</cusip>
			<value>6581</value>
			<shrsOrPrnAmt>
				<sshPrnamt>127200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>127200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CONAGRA FOODS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>205887102</cusip>
			<value>2351</value>
			<shrsOrPrnAmt>
				<sshPrnamt>77500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>77500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CONOCOPHILLIPS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>20825C104</cusip>
			<value>4984</value>
			<shrsOrPrnAmt>
				<sshPrnamt>71700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>71700</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CONSOLIDATED EDISON INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>209115104</cusip>
			<value>18300</value>
			<shrsOrPrnAmt>
				<sshPrnamt>331886</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>331886</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CORNING NAT GAS CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>219381100</cusip>
			<value>263</value>
			<shrsOrPrnAmt>
				<sshPrnamt>15135</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>15135</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>COWEN GROUP INC NEW</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>223622101</cusip>
			<value>483</value>
			<shrsOrPrnAmt>
				<sshPrnamt>140000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>140000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CRACKER BARREL OLD CTRY STORE</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>22410J106</cusip>
			<value>6545</value>
			<shrsOrPrnAmt>
				<sshPrnamt>63400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>63400</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CUMMINS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>231021106</cusip>
			<value>2046</value>
			<shrsOrPrnAmt>
				<sshPrnamt>15400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>15400</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>CUSTOMERS BANCORP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>23204G100</cusip>
			<value>2508</value>
			<shrsOrPrnAmt>
				<sshPrnamt>155800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>155800</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DEERE &amp; CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>244199105</cusip>
			<value>1546</value>
			<shrsOrPrnAmt>
				<sshPrnamt>19000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>19000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DELTA AIR LINES INC DEL</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>247361702</cusip>
			<value>10465</value>
			<shrsOrPrnAmt>
				<sshPrnamt>443600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>443600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DELTA NAT GAS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>247748106</cusip>
			<value>1074</value>
			<shrsOrPrnAmt>
				<sshPrnamt>48605</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>48605</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DINEEQUITY INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>254423106</cusip>
			<value>3961</value>
			<shrsOrPrnAmt>
				<sshPrnamt>57400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>57400</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DIRECTV</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>25490A309</cusip>
			<value>1942</value>
			<shrsOrPrnAmt>
				<sshPrnamt>32500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>32500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DISCOVER FINL SVCS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>254709108</cusip>
			<value>4144</value>
			<shrsOrPrnAmt>
				<sshPrnamt>82000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>82000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DOLLAR TREE INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>256746108</cusip>
			<value>2389</value>
			<shrsOrPrnAmt>
				<sshPrnamt>41800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>41800</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DOMINION RES INC VA NEW</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>25746U109</cusip>
			<value>52833</value>
			<shrsOrPrnAmt>
				<sshPrnamt>845596</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>845596</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DOVER CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>260003108</cusip>
			<value>238</value>
			<shrsOrPrnAmt>
				<sshPrnamt>2650</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>2650</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DOW CHEM CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>260543103</cusip>
			<value>3022</value>
			<shrsOrPrnAmt>
				<sshPrnamt>78700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>78700</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DR PEPPER SNAPPLE GROUP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>26138E109</cusip>
			<value>1640</value>
			<shrsOrPrnAmt>
				<sshPrnamt>36600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>36600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DREW INDS INC</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>26168L205</cusip>
			<value>5128</value>
			<shrsOrPrnAmt>
				<sshPrnamt>112600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>112600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DTE ENERGY CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>233331107</cusip>
			<value>11906</value>
			<shrsOrPrnAmt>
				<sshPrnamt>180454</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>180454</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DU PONT E I DE NEMOURS &amp; CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>263534109</cusip>
			<value>9990</value>
			<shrsOrPrnAmt>
				<sshPrnamt>170600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>170600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DUKE ENERGY CORP NEW</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>26441C204</cusip>
			<value>6734</value>
			<shrsOrPrnAmt>
				<sshPrnamt>100837</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>100837</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>DXP ENTERPRISES INC NEW</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>233377407</cusip>
			<value>5670</value>
			<shrsOrPrnAmt>
				<sshPrnamt>71800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>71800</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EMCOR GROUP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>29084Q100</cusip>
			<value>4414</value>
			<shrsOrPrnAmt>
				<sshPrnamt>112800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>112800</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EMPIRE DIST ELEC CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>291641108</cusip>
			<value>440</value>
			<shrsOrPrnAmt>
				<sshPrnamt>20300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>20300</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ENBRIDGE INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>29250N105</cusip>
			<value>51981</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1245348</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1245348</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ENCORE CAP GROUP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>292554102</cusip>
			<value>9860</value>
			<shrsOrPrnAmt>
				<sshPrnamt>215000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>215000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ENERGEN CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>29265N108</cusip>
			<value>7218</value>
			<shrsOrPrnAmt>
				<sshPrnamt>94492</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>94492</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ENERGY TRANSFER EQUITY L P</nameOfIssuer>
			<titleOfClass>COM UT LTD PTN</titleOfClass>
			<cusip>29273V100</cusip>
			<value>55828</value>
			<shrsOrPrnAmt>
				<sshPrnamt>848704</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>848704</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ENTERGY CORP NEW</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>29364G103</cusip>
			<value>594</value>
			<shrsOrPrnAmt>
				<sshPrnamt>9400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>9400</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EQT CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>26884L109</cusip>
			<value>8780</value>
			<shrsOrPrnAmt>
				<sshPrnamt>98960</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>98960</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EVERBANK FINL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>29977G102</cusip>
			<value>3445</value>
			<shrsOrPrnAmt>
				<sshPrnamt>230000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>230000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EXELON CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>30161N101</cusip>
			<value>9733</value>
			<shrsOrPrnAmt>
				<sshPrnamt>328381</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>328381</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>EXXON MOBIL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>30231G102</cusip>
			<value>1575</value>
			<shrsOrPrnAmt>
				<sshPrnamt>18300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>18300</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FAMILY DLR STORES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>307000109</cusip>
			<value>1779</value>
			<shrsOrPrnAmt>
				<sshPrnamt>24700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>24700</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FIDELITY NATIONAL FINANCIAL</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>31620R105</cusip>
			<value>4456</value>
			<shrsOrPrnAmt>
				<sshPrnamt>167500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>167500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FIFTH &amp; PAC COS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>316645100</cusip>
			<value>6370</value>
			<shrsOrPrnAmt>
				<sshPrnamt>253500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>253500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FIFTH THIRD BANCORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>316773100</cusip>
			<value>3446</value>
			<shrsOrPrnAmt>
				<sshPrnamt>191000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>191000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FIRST BANCORP P R</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>318672706</cusip>
			<value>6276</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1105000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1105000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FIRST CONN BANCORP INC MD</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>319850103</cusip>
			<value>2573</value>
			<shrsOrPrnAmt>
				<sshPrnamt>175000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>175000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FIRST HORIZON NATL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>320517105</cusip>
			<value>1319</value>
			<shrsOrPrnAmt>
				<sshPrnamt>120000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>120000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FIRST NIAGARA FINL GP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>33582V108</cusip>
			<value>2437</value>
			<shrsOrPrnAmt>
				<sshPrnamt>235000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>235000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FLAGSTAR BANCORP INC</nameOfIssuer>
			<titleOfClass>COM PAR .001</titleOfClass>
			<cusip>337930705</cusip>
			<value>7675</value>
			<shrsOrPrnAmt>
				<sshPrnamt>520000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>520000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FLOWERS FOODS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>343498101</cusip>
			<value>6438</value>
			<shrsOrPrnAmt>
				<sshPrnamt>300300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>300300</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FLUOR CORP NEW</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>343412102</cusip>
			<value>2022</value>
			<shrsOrPrnAmt>
				<sshPrnamt>28500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>28500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FLUSHING FINL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>343873105</cusip>
			<value>7565</value>
			<shrsOrPrnAmt>
				<sshPrnamt>410000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>410000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FOOT LOCKER INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>344849104</cusip>
			<value>1694</value>
			<shrsOrPrnAmt>
				<sshPrnamt>49900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>49900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FORD MTR CO DEL</nameOfIssuer>
			<titleOfClass>COM PAR $0.01</titleOfClass>
			<cusip>345370860</cusip>
			<value>3322</value>
			<shrsOrPrnAmt>
				<sshPrnamt>196900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>196900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FORESTAR GROUP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>346233109</cusip>
			<value>4629</value>
			<shrsOrPrnAmt>
				<sshPrnamt>215000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>215000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FREEPORT-MCMORAN COPPER &amp; GOLD</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>35671D857</cusip>
			<value>4026</value>
			<shrsOrPrnAmt>
				<sshPrnamt>121700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>121700</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>FULTON FINL CORP PA</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>360271100</cusip>
			<value>4263</value>
			<shrsOrPrnAmt>
				<sshPrnamt>365000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>365000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GAP INC DEL</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>364760108</cusip>
			<value>2078</value>
			<shrsOrPrnAmt>
				<sshPrnamt>51600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>51600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GAS NAT INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>367204104</cusip>
			<value>509</value>
			<shrsOrPrnAmt>
				<sshPrnamt>49943</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>49943</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GENERAL DYNAMICS CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>369550108</cusip>
			<value>5496</value>
			<shrsOrPrnAmt>
				<sshPrnamt>62800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>62800</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GENERAL ELECTRIC CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>369604103</cusip>
			<value>7081</value>
			<shrsOrPrnAmt>
				<sshPrnamt>296400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>296400</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GENERAL MLS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>370334104</cusip>
			<value>2914</value>
			<shrsOrPrnAmt>
				<sshPrnamt>60800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>60800</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GENESIS ENERGY L P</nameOfIssuer>
			<titleOfClass>UNIT LTD PARTN</titleOfClass>
			<cusip>371927104</cusip>
			<value>4862</value>
			<shrsOrPrnAmt>
				<sshPrnamt>97100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>97100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GENWORTH FINL INC</nameOfIssuer>
			<titleOfClass>COM CL A</titleOfClass>
			<cusip>37247D106</cusip>
			<value>14482</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1132300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1132300</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GLAXOSMITHKLINE PLC</nameOfIssuer>
			<titleOfClass>SPONSORED ADR</titleOfClass>
			<cusip>37733W105</cusip>
			<value>2815</value>
			<shrsOrPrnAmt>
				<sshPrnamt>56100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>56100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GOLDMAN SACHS GROUP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>38141G104</cusip>
			<value>2848</value>
			<shrsOrPrnAmt>
				<sshPrnamt>18000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>18000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GOODYEAR TIRE &amp; RUBR CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>382550101</cusip>
			<value>6546</value>
			<shrsOrPrnAmt>
				<sshPrnamt>291600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>291600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GRAMERCY PPTY TR INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>38489R100</cusip>
			<value>1536</value>
			<shrsOrPrnAmt>
				<sshPrnamt>370000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>370000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>GREEN DOT CORP</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>39304D102</cusip>
			<value>3555</value>
			<shrsOrPrnAmt>
				<sshPrnamt>135000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>135000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HALLIBURTON CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>406216101</cusip>
			<value>2335</value>
			<shrsOrPrnAmt>
				<sshPrnamt>48500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>48500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HANESBRANDS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>410345102</cusip>
			<value>6499</value>
			<shrsOrPrnAmt>
				<sshPrnamt>104300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>104300</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HCA HOLDINGS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>40412C101</cusip>
			<value>2253</value>
			<shrsOrPrnAmt>
				<sshPrnamt>52700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>52700</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HEARTLAND PMT SYS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>42235N108</cusip>
			<value>2780</value>
			<shrsOrPrnAmt>
				<sshPrnamt>70000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>70000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HELMERICH &amp; PAYNE INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>423452101</cusip>
			<value>2069</value>
			<shrsOrPrnAmt>
				<sshPrnamt>30000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>30000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HERTZ GLOBAL HOLDINGS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>42805T105</cusip>
			<value>4917</value>
			<shrsOrPrnAmt>
				<sshPrnamt>221900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>221900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HEWLETT PACKARD CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>428236103</cusip>
			<value>1551</value>
			<shrsOrPrnAmt>
				<sshPrnamt>73950</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>73950</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HINGHAM INSTN SVGS MASS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>433323102</cusip>
			<value>6572</value>
			<shrsOrPrnAmt>
				<sshPrnamt>94000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>94000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HOLLYFRONTIER CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>436106108</cusip>
			<value>1512</value>
			<shrsOrPrnAmt>
				<sshPrnamt>35900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>35900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HOME DEPOT INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>437076102</cusip>
			<value>4862</value>
			<shrsOrPrnAmt>
				<sshPrnamt>64100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>64100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HOME LN SERVICING SOLUTIONS</nameOfIssuer>
			<titleOfClass>ORD SHS</titleOfClass>
			<cusip>G6648D109</cusip>
			<value>5062</value>
			<shrsOrPrnAmt>
				<sshPrnamt>230000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>230000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HOMESTREET INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>43785V102</cusip>
			<value>8589</value>
			<shrsOrPrnAmt>
				<sshPrnamt>445000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>445000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HSBC HLDGS PLC</nameOfIssuer>
			<titleOfClass>SPON ADR NEW</titleOfClass>
			<cusip>404280406</cusip>
			<value>2447</value>
			<shrsOrPrnAmt>
				<sshPrnamt>45100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>45100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HUNTINGTON BANCSHARES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>446150104</cusip>
			<value>2891</value>
			<shrsOrPrnAmt>
				<sshPrnamt>350000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>350000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>HUNTINGTON INGALLS INDS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>446413106</cusip>
			<value>6585</value>
			<shrsOrPrnAmt>
				<sshPrnamt>97700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>97700</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ILLUMINA INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>452327109</cusip>
			<value>232</value>
			<shrsOrPrnAmt>
				<sshPrnamt>2873</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>2873</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>INDEPENDENT BANK CORP MASS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>453836108</cusip>
			<value>1250</value>
			<shrsOrPrnAmt>
				<sshPrnamt>35000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>35000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>INDEPENDENT BANK CORP MICH</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>453838609</cusip>
			<value>1360</value>
			<shrsOrPrnAmt>
				<sshPrnamt>136000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>136000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>INNERWORKINGS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>45773Y105</cusip>
			<value>3076</value>
			<shrsOrPrnAmt>
				<sshPrnamt>313265</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>313265</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>INNOSPEC INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>45768S105</cusip>
			<value>4909</value>
			<shrsOrPrnAmt>
				<sshPrnamt>105200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>105200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>INTEGRYS ENERGY GROUP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>45822P105</cusip>
			<value>15313</value>
			<shrsOrPrnAmt>
				<sshPrnamt>273988</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>273988</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>INTEL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>458140100</cusip>
			<value>10631</value>
			<shrsOrPrnAmt>
				<sshPrnamt>463850</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>463850</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>INTERNATIONAL BUSINESS MACHS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>459200101</cusip>
			<value>1574</value>
			<shrsOrPrnAmt>
				<sshPrnamt>8500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>8500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>INTL PAPER CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>460146103</cusip>
			<value>2710</value>
			<shrsOrPrnAmt>
				<sshPrnamt>60500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>60500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>INVESTORS BANCORP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>46146P102</cusip>
			<value>2844</value>
			<shrsOrPrnAmt>
				<sshPrnamt>130000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>130000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ITT CORP NEW</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>450911201</cusip>
			<value>6511</value>
			<shrsOrPrnAmt>
				<sshPrnamt>181100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>181100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>JARDEN CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>471109108</cusip>
			<value>5237</value>
			<shrsOrPrnAmt>
				<sshPrnamt>108200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>108200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>JOHNSON &amp; JOHNSON</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>478160104</cusip>
			<value>6580</value>
			<shrsOrPrnAmt>
				<sshPrnamt>75900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>75900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>JOY GLOBAL INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>481165108</cusip>
			<value>1373</value>
			<shrsOrPrnAmt>
				<sshPrnamt>26900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>26900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>JPMORGAN CHASE &amp; CO.</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>46625H100</cusip>
			<value>4799</value>
			<shrsOrPrnAmt>
				<sshPrnamt>92850</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>92850</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KB HOME</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>48666K109</cusip>
			<value>5226</value>
			<shrsOrPrnAmt>
				<sshPrnamt>290000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>290000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KELLOGG CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>487836108</cusip>
			<value>2567</value>
			<shrsOrPrnAmt>
				<sshPrnamt>43700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>43700</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KEYCORP NEW</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>493267108</cusip>
			<value>1767</value>
			<shrsOrPrnAmt>
				<sshPrnamt>155000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>155000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KIMBERLY CLARK CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>494368103</cusip>
			<value>2685</value>
			<shrsOrPrnAmt>
				<sshPrnamt>28500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>28500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KINDER MORGAN INC DEL</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>49456B101</cusip>
			<value>53754</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1511225</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1511225</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KKR FINL HLDGS LLC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>48248A306</cusip>
			<value>6301</value>
			<shrsOrPrnAmt>
				<sshPrnamt>610000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>610000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KLA-TENCOR CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>482480100</cusip>
			<value>2124</value>
			<shrsOrPrnAmt>
				<sshPrnamt>34900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>34900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KOHLS CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>500255104</cusip>
			<value>1915</value>
			<shrsOrPrnAmt>
				<sshPrnamt>37000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>37000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KRAFT FOODS GROUP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>50076Q106</cusip>
			<value>2965</value>
			<shrsOrPrnAmt>
				<sshPrnamt>56534</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>56534</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>KROGER CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>501044101</cusip>
			<value>2489</value>
			<shrsOrPrnAmt>
				<sshPrnamt>61700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>61700</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LACLEDE GROUP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>505597104</cusip>
			<value>9667</value>
			<shrsOrPrnAmt>
				<sshPrnamt>214833</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>214833</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LEAR CORP</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>521865204</cusip>
			<value>6520</value>
			<shrsOrPrnAmt>
				<sshPrnamt>91100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>91100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LENNOX INTL INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>526107107</cusip>
			<value>5486</value>
			<shrsOrPrnAmt>
				<sshPrnamt>72900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>72900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LILLY ELI &amp; CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>532457108</cusip>
			<value>4077</value>
			<shrsOrPrnAmt>
				<sshPrnamt>81000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>81000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LINKEDIN CORP</nameOfIssuer>
			<titleOfClass>COM CL A</titleOfClass>
			<cusip>53578A108</cusip>
			<value>239</value>
			<shrsOrPrnAmt>
				<sshPrnamt>970</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>970</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LITHIA MTRS INC</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>536797103</cusip>
			<value>14067</value>
			<shrsOrPrnAmt>
				<sshPrnamt>192800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>192800</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LOCKHEED MARTIN CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>539830109</cusip>
			<value>6059</value>
			<shrsOrPrnAmt>
				<sshPrnamt>47500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>47500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>LOWES COS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>548661107</cusip>
			<value>5266</value>
			<shrsOrPrnAmt>
				<sshPrnamt>110600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>110600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MARATHON OIL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>565849106</cusip>
			<value>1877</value>
			<shrsOrPrnAmt>
				<sshPrnamt>53800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>53800</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MARATHON PETE CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>56585A102</cusip>
			<value>1692</value>
			<shrsOrPrnAmt>
				<sshPrnamt>26300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>26300</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MASTERCARD INC</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>57636Q104</cusip>
			<value>3835</value>
			<shrsOrPrnAmt>
				<sshPrnamt>5700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>5700</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MBIA INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>55262C100</cusip>
			<value>5831</value>
			<shrsOrPrnAmt>
				<sshPrnamt>570000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>570000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MCDONALDS CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>580135101</cusip>
			<value>8260</value>
			<shrsOrPrnAmt>
				<sshPrnamt>85850</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>85850</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MDU RES GROUP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>552690109</cusip>
			<value>12576</value>
			<shrsOrPrnAmt>
				<sshPrnamt>449607</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>449607</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MERCK &amp; CO INC NEW</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>58933Y105</cusip>
			<value>9060</value>
			<shrsOrPrnAmt>
				<sshPrnamt>190300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>190300</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>METLIFE INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>59156R108</cusip>
			<value>3803</value>
			<shrsOrPrnAmt>
				<sshPrnamt>81000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>81000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MGE ENERGY INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>55277P104</cusip>
			<value>1310</value>
			<shrsOrPrnAmt>
				<sshPrnamt>24017</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>24017</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MGIC INVT CORP WIS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>552848103</cusip>
			<value>8641</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1187000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1187000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MICROCHIP TECHNOLOGY INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>595017104</cusip>
			<value>214</value>
			<shrsOrPrnAmt>
				<sshPrnamt>5300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>5300</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MICROSOFT CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>594918104</cusip>
			<value>4673</value>
			<shrsOrPrnAmt>
				<sshPrnamt>140300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>140300</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MOHAWK INDS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>608190104</cusip>
			<value>5236</value>
			<shrsOrPrnAmt>
				<sshPrnamt>40200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>40200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MORGAN STANLEY</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>617446448</cusip>
			<value>3773</value>
			<shrsOrPrnAmt>
				<sshPrnamt>140000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>140000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>MWI VETERINARY SUPPLY INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>55402X105</cusip>
			<value>5168</value>
			<shrsOrPrnAmt>
				<sshPrnamt>34600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>34600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NATIONAL BK HLDGS CORP</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>633707104</cusip>
			<value>2670</value>
			<shrsOrPrnAmt>
				<sshPrnamt>130000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>130000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NATIONAL FUEL GAS CO N J</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>636180101</cusip>
			<value>22603</value>
			<shrsOrPrnAmt>
				<sshPrnamt>328724</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>328724</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NATIONAL GRID PLC</nameOfIssuer>
			<titleOfClass>SPON ADR NEW</titleOfClass>
			<cusip>636274300</cusip>
			<value>53836</value>
			<shrsOrPrnAmt>
				<sshPrnamt>911698</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>911698</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NATIONSTAR MTG HLDGS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>63861C109</cusip>
			<value>10403</value>
			<shrsOrPrnAmt>
				<sshPrnamt>185000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>185000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NETFLIX INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>64110L106</cusip>
			<value>238</value>
			<shrsOrPrnAmt>
				<sshPrnamt>770</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>770</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NETSUITE INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>64118Q107</cusip>
			<value>216</value>
			<shrsOrPrnAmt>
				<sshPrnamt>2000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>2000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NEW JERSEY RES</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>646025106</cusip>
			<value>9477</value>
			<shrsOrPrnAmt>
				<sshPrnamt>215142</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>215142</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NEWMONT MINING CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>651639106</cusip>
			<value>1647</value>
			<shrsOrPrnAmt>
				<sshPrnamt>58600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>58600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NISOURCE INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>65473P105</cusip>
			<value>41659</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1348631</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1348631</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NORDSTROM INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>655664100</cusip>
			<value>1753</value>
			<shrsOrPrnAmt>
				<sshPrnamt>31200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>31200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NORFOLK SOUTHERN CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>655844108</cusip>
			<value>2846</value>
			<shrsOrPrnAmt>
				<sshPrnamt>36800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>36800</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NORTHEAST UTILS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>664397106</cusip>
			<value>5258</value>
			<shrsOrPrnAmt>
				<sshPrnamt>127475</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>127475</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NORTHSTAR RLTY FIN CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>66704R100</cusip>
			<value>7238</value>
			<shrsOrPrnAmt>
				<sshPrnamt>780000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>780000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NORTHWEST NAT GAS CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>667655104</cusip>
			<value>7202</value>
			<shrsOrPrnAmt>
				<sshPrnamt>171564</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>171564</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NORTHWESTERN CORP</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>668074305</cusip>
			<value>3611</value>
			<shrsOrPrnAmt>
				<sshPrnamt>80398</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>80398</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NUCOR CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>670346105</cusip>
			<value>2676</value>
			<shrsOrPrnAmt>
				<sshPrnamt>54600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>54600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>NV ENERGY INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>67073Y106</cusip>
			<value>1000</value>
			<shrsOrPrnAmt>
				<sshPrnamt>42350</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>42350</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>OCEANFIRST FINL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>675234108</cusip>
			<value>3896</value>
			<shrsOrPrnAmt>
				<sshPrnamt>230400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>230400</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>OCWEN FINL CORP</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>675746309</cusip>
			<value>9760</value>
			<shrsOrPrnAmt>
				<sshPrnamt>175000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>175000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>OMNICARE INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>681904108</cusip>
			<value>6643</value>
			<shrsOrPrnAmt>
				<sshPrnamt>119700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>119700</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ONEOK INC NEW</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>682680103</cusip>
			<value>48858</value>
			<shrsOrPrnAmt>
				<sshPrnamt>916315</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>916315</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>OPPENHEIMER HLDGS INC</nameOfIssuer>
			<titleOfClass>CL A NON VOTING</titleOfClass>
			<cusip>683797104</cusip>
			<value>1056</value>
			<shrsOrPrnAmt>
				<sshPrnamt>59406</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>59406</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>OSHKOSH CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>688239201</cusip>
			<value>6637</value>
			<shrsOrPrnAmt>
				<sshPrnamt>135500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>135500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PACCAR INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>693718108</cusip>
			<value>2059</value>
			<shrsOrPrnAmt>
				<sshPrnamt>37000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>37000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PAPA JOHNS INTL INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>698813102</cusip>
			<value>5486</value>
			<shrsOrPrnAmt>
				<sshPrnamt>78500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>78500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PARKER HANNIFIN CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>701094104</cusip>
			<value>2120</value>
			<shrsOrPrnAmt>
				<sshPrnamt>19500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>19500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PENNYMAC MTG INVT TR</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>70931T103</cusip>
			<value>5670</value>
			<shrsOrPrnAmt>
				<sshPrnamt>250000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>250000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PEPCO HOLDINGS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>713291102</cusip>
			<value>1063</value>
			<shrsOrPrnAmt>
				<sshPrnamt>57604</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>57604</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PEPSICO INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>713448108</cusip>
			<value>2806</value>
			<shrsOrPrnAmt>
				<sshPrnamt>35300</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>35300</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PFIZER INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>717081103</cusip>
			<value>8787</value>
			<shrsOrPrnAmt>
				<sshPrnamt>306050</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>306050</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PG&amp;E CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>69331C108</cusip>
			<value>30600</value>
			<shrsOrPrnAmt>
				<sshPrnamt>747799</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>747799</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PHH CORP</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>693320202</cusip>
			<value>7953</value>
			<shrsOrPrnAmt>
				<sshPrnamt>335000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>335000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PHILIP MORRIS INTL INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>718172109</cusip>
			<value>2520</value>
			<shrsOrPrnAmt>
				<sshPrnamt>29100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>29100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PIEDMONT NAT GAS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>720186105</cusip>
			<value>17182</value>
			<shrsOrPrnAmt>
				<sshPrnamt>522566</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>522566</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PIER 1 IMPORTS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>720279108</cusip>
			<value>3756</value>
			<shrsOrPrnAmt>
				<sshPrnamt>192400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>192400</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PILGRIMS PRIDE CORP NEW</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>72147K108</cusip>
			<value>6585</value>
			<shrsOrPrnAmt>
				<sshPrnamt>392200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>392200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PIPER JAFFRAY COS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>724078100</cusip>
			<value>343</value>
			<shrsOrPrnAmt>
				<sshPrnamt>10000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>10000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PNC FINL SVCS GROUP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>693475105</cusip>
			<value>3912</value>
			<shrsOrPrnAmt>
				<sshPrnamt>54000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>54000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>POPULAR INC</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>733174700</cusip>
			<value>8262</value>
			<shrsOrPrnAmt>
				<sshPrnamt>315000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>315000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PORTFOLIO RECOVERY ASSOCS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>73640Q105</cusip>
			<value>2338</value>
			<shrsOrPrnAmt>
				<sshPrnamt>39000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>39000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PPL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>69351T106</cusip>
			<value>13824</value>
			<shrsOrPrnAmt>
				<sshPrnamt>455035</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>455035</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PRICELINE COM INC</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>741503403</cusip>
			<value>243</value>
			<shrsOrPrnAmt>
				<sshPrnamt>240</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>240</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PRIVATEBANCORP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>742962103</cusip>
			<value>1305</value>
			<shrsOrPrnAmt>
				<sshPrnamt>61000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>61000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PROCTER &amp; GAMBLE CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>742718109</cusip>
			<value>5851</value>
			<shrsOrPrnAmt>
				<sshPrnamt>77400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>77400</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PROVIDENT FINL SVCS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>74386T105</cusip>
			<value>3161</value>
			<shrsOrPrnAmt>
				<sshPrnamt>195000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>195000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PRUDENTIAL FINL INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>744320102</cusip>
			<value>3275</value>
			<shrsOrPrnAmt>
				<sshPrnamt>42000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>42000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PUBLIC SVC ENTERPRISE GROUP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>744573106</cusip>
			<value>21892</value>
			<shrsOrPrnAmt>
				<sshPrnamt>664790</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>664790</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>PVH CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>693656100</cusip>
			<value>4285</value>
			<shrsOrPrnAmt>
				<sshPrnamt>36100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>36100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>QUESTAR CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>748356102</cusip>
			<value>21346</value>
			<shrsOrPrnAmt>
				<sshPrnamt>949115</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>949115</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>RADIAN GROUP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>750236101</cusip>
			<value>8079</value>
			<shrsOrPrnAmt>
				<sshPrnamt>580000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>580000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>RAIT FINANCIAL TRUST</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>749227609</cusip>
			<value>5239</value>
			<shrsOrPrnAmt>
				<sshPrnamt>740000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>740000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>RAYTHEON CO</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>755111507</cusip>
			<value>5934</value>
			<shrsOrPrnAmt>
				<sshPrnamt>77000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>77000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>REGIONS FINL CORP NEW</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>7591EP100</cusip>
			<value>3750</value>
			<shrsOrPrnAmt>
				<sshPrnamt>405000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>405000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>RGC RES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>74955L103</cusip>
			<value>614</value>
			<shrsOrPrnAmt>
				<sshPrnamt>33310</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>33310</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ROCKVILLE FINL INC NEW</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>774188106</cusip>
			<value>2990</value>
			<shrsOrPrnAmt>
				<sshPrnamt>230000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>230000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ROCKWELL COLLINS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>774341101</cusip>
			<value>1948</value>
			<shrsOrPrnAmt>
				<sshPrnamt>28700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>28700</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>ROYAL DUTCH SHELL PLC</nameOfIssuer>
			<titleOfClass>SPONSORED ADR</titleOfClass>
			<cusip>780259107</cusip>
			<value>2424</value>
			<shrsOrPrnAmt>
				<sshPrnamt>35200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>35200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SAFEWAY INC</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>786514208</cusip>
			<value>6478</value>
			<shrsOrPrnAmt>
				<sshPrnamt>202500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>202500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SALESFORCE COM INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>79466L302</cusip>
			<value>241</value>
			<shrsOrPrnAmt>
				<sshPrnamt>4650</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>4650</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SANDISK CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>80004C101</cusip>
			<value>239</value>
			<shrsOrPrnAmt>
				<sshPrnamt>4020</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>4020</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SCANA CORP NEW</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>80589M102</cusip>
			<value>8124</value>
			<shrsOrPrnAmt>
				<sshPrnamt>176466</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>176466</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SCHULMAN A INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>808194104</cusip>
			<value>3971</value>
			<shrsOrPrnAmt>
				<sshPrnamt>134800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>134800</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SEMPRA ENERGY</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>816851109</cusip>
			<value>53024</value>
			<shrsOrPrnAmt>
				<sshPrnamt>619440</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>619440</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SERVICE CORP INTL</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>817565104</cusip>
			<value>5132</value>
			<shrsOrPrnAmt>
				<sshPrnamt>275600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>275600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SKECHERS U S A INC</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>830566105</cusip>
			<value>6757</value>
			<shrsOrPrnAmt>
				<sshPrnamt>217200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>217200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SOUTH JERSEY INDS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>838518108</cusip>
			<value>8698</value>
			<shrsOrPrnAmt>
				<sshPrnamt>148485</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>148485</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SOUTHWEST GAS CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>844895102</cusip>
			<value>15321</value>
			<shrsOrPrnAmt>
				<sshPrnamt>306423</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>306423</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SPECTRA ENERGY CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>847560109</cusip>
			<value>54549</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1593615</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1593615</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>STEELCASE INC</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>858155203</cusip>
			<value>5395</value>
			<shrsOrPrnAmt>
				<sshPrnamt>324600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>324600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>STEPAN CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>858586100</cusip>
			<value>4006</value>
			<shrsOrPrnAmt>
				<sshPrnamt>69400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>69400</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>STERLING FINL CORP WASH</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>859319303</cusip>
			<value>8165</value>
			<shrsOrPrnAmt>
				<sshPrnamt>285000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>285000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>STEWART INFORMATION SVCS CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>860372101</cusip>
			<value>5240</value>
			<shrsOrPrnAmt>
				<sshPrnamt>163800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>163800</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SUNPOWER CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>867652406</cusip>
			<value>6773</value>
			<shrsOrPrnAmt>
				<sshPrnamt>258900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>258900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SUNTRUST BKS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>867914103</cusip>
			<value>4117</value>
			<shrsOrPrnAmt>
				<sshPrnamt>127000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>127000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SUSQUEHANNA BANCSHARES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>869099101</cusip>
			<value>1318</value>
			<shrsOrPrnAmt>
				<sshPrnamt>105000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>105000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SWIFT TRANSN CO</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>87074U101</cusip>
			<value>6705</value>
			<shrsOrPrnAmt>
				<sshPrnamt>332100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>332100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SYNOVUS FINL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>87161C105</cusip>
			<value>7689</value>
			<shrsOrPrnAmt>
				<sshPrnamt>2330000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>2330000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>SYSCO CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>871829107</cusip>
			<value>2543</value>
			<shrsOrPrnAmt>
				<sshPrnamt>79900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>79900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TARGA RES CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>87612G101</cusip>
			<value>5034</value>
			<shrsOrPrnAmt>
				<sshPrnamt>69000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>69000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TCF FINL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>872275102</cusip>
			<value>1785</value>
			<shrsOrPrnAmt>
				<sshPrnamt>125000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>125000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TEAM INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>878155100</cusip>
			<value>3824</value>
			<shrsOrPrnAmt>
				<sshPrnamt>96200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>96200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TECO ENERGY INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>872375100</cusip>
			<value>3419</value>
			<shrsOrPrnAmt>
				<sshPrnamt>206736</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>206736</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TENNECO INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>880349105</cusip>
			<value>6555</value>
			<shrsOrPrnAmt>
				<sshPrnamt>129800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>129800</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TEREX CORP NEW</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>880779103</cusip>
			<value>4166</value>
			<shrsOrPrnAmt>
				<sshPrnamt>124000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>124000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TERRITORIAL BANCORP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>88145X108</cusip>
			<value>2307</value>
			<shrsOrPrnAmt>
				<sshPrnamt>105000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>105000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>3M CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>88579Y101</cusip>
			<value>2102</value>
			<shrsOrPrnAmt>
				<sshPrnamt>17600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>17600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TIME WARNER CABLE INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>88732J207</cusip>
			<value>3169</value>
			<shrsOrPrnAmt>
				<sshPrnamt>28400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>28400</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TORO CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>891092108</cusip>
			<value>5136</value>
			<shrsOrPrnAmt>
				<sshPrnamt>94500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>94500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TOTAL S A</nameOfIssuer>
			<titleOfClass>SPONSORED ADR</titleOfClass>
			<cusip>89151E109</cusip>
			<value>2705</value>
			<shrsOrPrnAmt>
				<sshPrnamt>46700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>46700</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TRANSCANADA CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>89353D107</cusip>
			<value>53379</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1214827</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1214827</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TRAVELERS COMPANIES INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>89417E109</cusip>
			<value>3391</value>
			<shrsOrPrnAmt>
				<sshPrnamt>40000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>40000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TRIMAS CORP</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>896215209</cusip>
			<value>5188</value>
			<shrsOrPrnAmt>
				<sshPrnamt>139100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>139100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>TRIPADVISOR INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>896945201</cusip>
			<value>239</value>
			<shrsOrPrnAmt>
				<sshPrnamt>3145</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>3145</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>U S G CORP</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>903293405</cusip>
			<value>4064</value>
			<shrsOrPrnAmt>
				<sshPrnamt>142200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>142200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>UGI CORP NEW</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>902681105</cusip>
			<value>6434</value>
			<shrsOrPrnAmt>
				<sshPrnamt>164435</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>164435</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>UIL HLDG CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>902748102</cusip>
			<value>5184</value>
			<shrsOrPrnAmt>
				<sshPrnamt>139433</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>139433</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>UNIFIRST CORP MASS</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>904708104</cusip>
			<value>5367</value>
			<shrsOrPrnAmt>
				<sshPrnamt>51400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>51400</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>UNILEVER N V</nameOfIssuer>
			<titleOfClass>NY SHS NEW</titleOfClass>
			<cusip>904784709</cusip>
			<value>2373</value>
			<shrsOrPrnAmt>
				<sshPrnamt>62900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>62900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>UNILEVER PLC</nameOfIssuer>
			<titleOfClass>SPON ADR NEW</titleOfClass>
			<cusip>904767704</cusip>
			<value>2415</value>
			<shrsOrPrnAmt>
				<sshPrnamt>62600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>62600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>UNION PAC CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>907818108</cusip>
			<value>2019</value>
			<shrsOrPrnAmt>
				<sshPrnamt>13000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>13000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>UNITED FINANCIAL BANCORP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>91030T109</cusip>
			<value>3158</value>
			<shrsOrPrnAmt>
				<sshPrnamt>195294</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>195294</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>UNITED PARCEL SERVICE INC</nameOfIssuer>
			<titleOfClass>CL B</titleOfClass>
			<cusip>911312106</cusip>
			<value>2933</value>
			<shrsOrPrnAmt>
				<sshPrnamt>32100</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>32100</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>UNITEDHEALTH GROUP INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>91324P102</cusip>
			<value>2141</value>
			<shrsOrPrnAmt>
				<sshPrnamt>29900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>29900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>UNITIL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>913259107</cusip>
			<value>1567</value>
			<shrsOrPrnAmt>
				<sshPrnamt>53523</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>53523</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>UNIVERSAL HLTH SVCS INC</nameOfIssuer>
			<titleOfClass>CL B</titleOfClass>
			<cusip>913903100</cusip>
			<value>6652</value>
			<shrsOrPrnAmt>
				<sshPrnamt>88700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>88700</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>UNS ENERGY CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>903119105</cusip>
			<value>787</value>
			<shrsOrPrnAmt>
				<sshPrnamt>16880</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>16880</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>URS CORP NEW</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>903236107</cusip>
			<value>6391</value>
			<shrsOrPrnAmt>
				<sshPrnamt>118900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>118900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>US BANCORP DEL</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>902973304</cusip>
			<value>2012</value>
			<shrsOrPrnAmt>
				<sshPrnamt>55000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>55000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>VALMONT INDS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>920253101</cusip>
			<value>3778</value>
			<shrsOrPrnAmt>
				<sshPrnamt>27200</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>27200</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>VECTREN CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>92240G101</cusip>
			<value>6967</value>
			<shrsOrPrnAmt>
				<sshPrnamt>208916</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>208916</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>VERIZON COMMUNICATIONS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>92343V104</cusip>
			<value>8669</value>
			<shrsOrPrnAmt>
				<sshPrnamt>185800</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>185800</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>VIACOM INC NEW</nameOfIssuer>
			<titleOfClass>CL B</titleOfClass>
			<cusip>92553P201</cusip>
			<value>2549</value>
			<shrsOrPrnAmt>
				<sshPrnamt>30500</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>30500</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>VISA INC</nameOfIssuer>
			<titleOfClass>CL A</titleOfClass>
			<cusip>92826C839</cusip>
			<value>4013</value>
			<shrsOrPrnAmt>
				<sshPrnamt>21000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>21000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>VISTEON CORP</nameOfIssuer>
			<titleOfClass>COM NEW</titleOfClass>
			<cusip>92839U206</cusip>
			<value>6573</value>
			<shrsOrPrnAmt>
				<sshPrnamt>86900</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>86900</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WALTER INVT MGMT CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>93317W102</cusip>
			<value>8699</value>
			<shrsOrPrnAmt>
				<sshPrnamt>220000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>220000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WASHINGTON FED INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>938824109</cusip>
			<value>5584</value>
			<shrsOrPrnAmt>
				<sshPrnamt>270000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>270000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WASTE MGMT INC DEL</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>94106L109</cusip>
			<value>2912</value>
			<shrsOrPrnAmt>
				<sshPrnamt>70600</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>70600</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WELLS FARGO &amp; CO NEW</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>949746101</cusip>
			<value>5496</value>
			<shrsOrPrnAmt>
				<sshPrnamt>133000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>133000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WENDYS CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>95058W100</cusip>
			<value>6597</value>
			<shrsOrPrnAmt>
				<sshPrnamt>778000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>778000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WESTERN DIGITAL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>958102105</cusip>
			<value>2726</value>
			<shrsOrPrnAmt>
				<sshPrnamt>43000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>43000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WESTERN UN CO</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>959802109</cusip>
			<value>2290</value>
			<shrsOrPrnAmt>
				<sshPrnamt>122700</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>122700</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WGL HLDGS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>92924F106</cusip>
			<value>13090</value>
			<shrsOrPrnAmt>
				<sshPrnamt>306487</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>306487</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WILLIAMS COS INC DEL</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>969457100</cusip>
			<value>48861</value>
			<shrsOrPrnAmt>
				<sshPrnamt>1343825</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>1343825</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WINTRUST FINL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>97650W108</cusip>
			<value>7598</value>
			<shrsOrPrnAmt>
				<sshPrnamt>185000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>185000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WISCONSIN ENERGY CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>976657106</cusip>
			<value>7166</value>
			<shrsOrPrnAmt>
				<sshPrnamt>177460</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>177460</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WORTHINGTON INDS INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>981811102</cusip>
			<value>5144</value>
			<shrsOrPrnAmt>
				<sshPrnamt>149400</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>149400</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>WSFS FINL CORP</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>929328102</cusip>
			<value>3013</value>
			<shrsOrPrnAmt>
				<sshPrnamt>50000</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>50000</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
		<infoTable>
			<nameOfIssuer>XCEL ENERGY INC</nameOfIssuer>
			<titleOfClass>COM</titleOfClass>
			<cusip>98389B100</cusip>
			<value>10185</value>
			<shrsOrPrnAmt>
				<sshPrnamt>368899</sshPrnamt>
				<sshPrnamtType>SH</sshPrnamtType>
			</shrsOrPrnAmt>
			<investmentDiscretion>SOLE</investmentDiscretion>
			<votingAuthority>
				<Sole>368899</Sole>
				<Shared>0</Shared>
				<None>0</None>
			</votingAuthority>
		</infoTable>
</informationTable>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
