SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person* Porter Orlin LLC (Last) (First) (Middle) 666 FIFTH AVENUE, SUITE 3403 (Street) NEW YORK NY 10103 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 01/05/2011	3. Issuer Name and Ticker or Trading Symbol MATRIXX INITIATIVES INC [ MTXX ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) X Other (specify below) Member of Group Owning 10%	5. If Amendment, Date of Original Filed (Month/Day/Year)
			6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock, par value $0.001 per share	270,000	D(1)(2)
Common Stock, par value $0.001 per share	657,400	D(1)(3)
Common Stock, par value $0.001 per share	927,400	I	See Footnotes(1)(4)
Common Stock, par value $0.001 per share	1,037,176	I	See Footnotes(1)(5)(6)(7)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person* Porter Orlin LLC (Last) (First) (Middle) 666 FIFTH AVENUE, SUITE 3403 (Street) NEW YORK NY 10103 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) X Other (specify below) Member of Group Owning 10%

1. Name and Address of Reporting Person* Amici Healthcare, L.P. (Last) (First) (Middle) C/O PORTER ORLIN LLC 666 FIFTH AVENUE, SUITE 3403 (Street) NEW YORK NY 10103 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) X Other (specify below) Member of Group Owning 10%

1. Name and Address of Reporting Person* Collectors' Fund, L.P. (Last) (First) (Middle) C/O PORTER ORLIN LLC 666 FIFTH AVENUE, SUITE 3403 (Street) NEW YORK NY 10103 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) X Other (specify below) Member of Group Owning 10%

1. Name and Address of Reporting Person* CF ADVISORS LLC (Last) (First) (Middle) C/O PORTER ORLIN LLC 666 FIFTH AVENUE, SUITE 3403 (Street) NEW YORK NY 10103 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) X Other (specify below) Member of Group Owning 10%

1. Name and Address of Reporting Person* PORTER A ALEX (Last) (First) (Middle) C/O PORTER ORLIN LLC 666 FIFTH AVENUE, SUITE 3403 (Street) NEW YORK NY 10103 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) X Other (specify below) Member of Group Owning 10%

1. Name and Address of Reporting Person* ORLIN PAUL E (Last) (First) (Middle) C/O PORTER ORLIN LLC 666 FIFTH AVENUE, SUITE 3403 (Street) NEW YORK NY 10103 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) X Other (specify below) Member of Group Owning 10%

Explanation of Responses:

1. The entities and individuals identified in the footnotes of this Form 3 may be deemed members of a group holding equity securities of the Issuer. The filing of this Form 3 and any statements included herein shall not be deemed to be an admission that such entities and individuals are members of such group.

2. The amount of securities shown in this row is owned directly by Amici Healthcare, L.P. ("Amici Healthcare").

3. The amount of securities shown in this row is owned directly by The Collectors' Fund, L.P. (together with Amici Healthcare, the "Partnerships").

4. The amount of securities shown in this row is, in the aggregate, owned directly by the Partnerships. As the general partner of each of the Partnerships, CF Advisors, LLC (the "General Partner") may be deemed to be a beneficial owner of the Issuer's securities held by each of the Partnerships. The General Partner disclaims any beneficial ownership of any of the Issuer's securities reported or referred to herein for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise, except as to securities representing the General Partner's pro rata interest in, and interest in the profits of, the Partnerships.

5. The amount of securities shown in this row is, in the aggregate, owned directly by the Partnerships and a discretionary account (the "Managed Account") managed by Porter Orlin LLC (the "Investment Manager").

6. As the registered investment adviser to the Partnerships and the Managed Account, the Investment Manager may be deemed to be a beneficial owner of the Issuer's securities held by the Partnerships and the Managed Account. The Investment Manager disclaims any beneficial ownership of any of the Issuer's securities reported or referred to herein for purposes of Section 16 of the Exchange Act or otherwise, except to the extent of its pecuniary interest, if any.

7. Each of A. Alex Porter and Paul E. Orlin (collectively, the "Managing Members"), as a managing member of the General Partner and the Investment Manager with the power to exercise investment discretion, may be deemed to be a beneficial owner of the Issuer's securities held by the Partnerships and the Managed Account. Each of the Managing Members disclaims any beneficial ownership of any of the Issuer's securities reported or referred to herein for purposes of Section 16 of the Exchange Act or otherwise, except to the extent of his pecuniary interest, if any.

	/s/ A. Alex Porter, as authorized signer for each of Amici Healthcare, L.P. and The Collectors' Fund, L.P.	01/10/2011
	/s/ Paul E. Orlin, as authorized signer for each of Amici Healthcare, L.P. and The Collectors' Fund, L.P.	01/10/2011
	/s/ A. Alex Porter, as authorized signer for each of CF Advisors, LLC and Porter Orlin LLC.	01/10/2011
	/s/ Paul E. Orlin, as authorized signer for each of CF Advisors, LLC and Porter Orlin LLC.	01/10/2011
	/s/ A. Alex Porter.	01/10/2011
	/s/ Paul E. Orlin.	01/10/2011
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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