The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
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COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AMERICAN AIRLS GROUP INC COM 02376R102 4,101 100,000 SH   SOLE 100,000 0 0
BROADSOFT INC COM 11133B409 10,895 270,000 SH   SOLE 270,000 0 0
CAREDX INC COM 14167L103 3,739 753,800 SH   SOLE 753,800 0 0
CASCADE MICROTECH INC COM 147322101 18,355 890,177 SH   SOLE 890,177 0 0
CF INDS HLDGS INC COM 125269100 6,268 200,000 SH   SOLE 200,000 0 0
COMMUNITY BANKERS TR CORP COM 203612106 5,425 1,085,000 SH   SOLE 1,085,000 0 0
DIME CMNTY BANCSHARES COM 253922108 881 50,000 SH   SOLE 50,000 0 0
DIREXION SHS ETF TR DAILY GOLD MINER 25490K570 585 10,000 SH   SOLE 10,000 0 0
FORESTAR GROUP INC NOTE 3.750% 3/0 346232AB7 866 1,000,000 PRN   SOLE 1,000,000 0 0
HERITAGE COMMERCE CORP COM 426927109 1,001 100,000 SH   SOLE 100,000 0 0
HOWARD HUGHES CORP COM 44267D107 2,118 20,000 SH   SOLE 20,000 0 0
INTERNATIONAL SPEEDWAY CORP CL A 460335201 5,845 158,364 SH   SOLE 158,364 0 0
IRIDEX CORP COM 462684101 12,775 1,250,000 SH   SOLE 1,250,000 0 0
NAVIGATOR HOLDINGS LTD SHS Y62132108 15,821 979,637 SH   SOLE 979,637 0 0
PAR PACIFIC HOLDINGS INC COM NEW 69888T207 13,696 730,067 SH   SOLE 730,067 0 0
RENTECH NITROGEN PARTNERS L COM UNIT 760113100 5,856 515,000 SH   SOLE 515,000 0 0
YAHOO INC COM 984332106 11,043 300,000 SH   SOLE 300,000 0 0