0000906344-12-000030.txt : 20120214
0000906344-12-000030.hdr.sgml : 20120214
20120214151129
ACCESSION NUMBER: 0000906344-12-000030
CONFORMED SUBMISSION TYPE: 13F-HR
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20111231
FILED AS OF DATE: 20120214
DATE AS OF CHANGE: 20120214
EFFECTIVENESS DATE: 20120214
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: RBF Capital, LLC
CENTRAL INDEX KEY: 0001134621
IRS NUMBER: 680383896
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 13F-HR
SEC ACT: 1934 Act
SEC FILE NUMBER: 028-06357
FILM NUMBER: 12608431
BUSINESS ADDRESS:
STREET 1: 100 DRAKES LANDING ROAD
STREET 2: SUITE 300
CITY: GREENBRAE
STATE: CA
ZIP: 94904
BUSINESS PHONE: (415) 464-4475
MAIL ADDRESS:
STREET 1: 100 DRAKES LANDING ROAD
STREET 2: SUITE 300
CITY: GREENBRAE
STATE: CA
ZIP: 94904
FORMER COMPANY:
FORMER CONFORMED NAME: RBF LLC
DATE OF NAME CHANGE: 20010213
13F-HR
1
rbf4q11.txt
FORM 13F - FOURTH QUARTER 2011
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: December 31, 2011
Check here if Amendment [ ]; Amendment Number:
This amendment (Check only one.): [ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: RBF CAPITAL, LLC
Address: 100 Drakes Landing Road, Suite 300
Greenbrae, CA 94904
13F File Number: 028-06357
The institutional investment manager filing this report and the person by
whom it is signed hereby represent that the person signing the report is
authorized to submit it that all information contained herein is true,
correct and complete and that it is understood that all required items,
statements, schedules, lists and tables are considered integral parts of
this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: Richard B. Fullerton
Title: Managing Member
Phone: 415-464-4478
Signature, Place and Date of Signing:
/s/ Richard B. Fullerton Greenbrae, CA February 2, 2012
-------------------------- --------------------- -------------------
[Signature] [City, State] [Date]
Report Type (Check only one.):
[X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting
manager are reported in this report.)
[ ] 13F NOTICE. (Check here if no holdings reported are in this report, and
all holdings are reported by other reporting manager(s).)
[ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for
this reporting manager are reported in this report and a portion are reported
by other reporting manager(s).)
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 311
Form 13F Information Table Value Total: 221,746 (x$1000)
List of Other Included Managers:
Provide a numbered list of the name(s) and Form 13F file number(s) of all
institutional investment managers with respect to which this report is filed,
other than the manager filing this report.
NONE
RBF CAPITAL, LLC
FORM 13F INFORMATION TABLE - FOURTH QUARTER 2011
TITLE VALUE SHARES/ SH/ PUT/ INVT OTH VOTING AUTHORITY
NAME OF ISSUER OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRN MGRS SOLE SHARED NONE
=========================================================================================================================
U.S. CONCRETE INC 144A 9.5% 08/31/2015 Convertible 90333LAE2 197 201,000 PRN Sole 201,000
SER: CONV DMJS Bond
ASSET ACCEPTANCE CAPITAL CORP CMN Common Stock 04543P100 446 114,016 SH Sole 114,016
AMERISOURCEBERGEN CORPORATION CMN Common Stock 03073E105 1,116 30,000 SH Sole 30,000
CAMBIUM LEARNING GROUP, INC. CMN Common Stock 13201A107 54 18,000 SH Sole 18,000
ACE LIMITED CMN Common Stock H0023R105 771 11,000 SH Sole 11,000
ACCENTURE PLC CMN Common Stock G1151C901 266 5,000 SH Sole 5,000
ACTIONS SEMICONDUCTOR CO LTD ADR CMN Dep. Receipt 00507E107 731 399,721 SH Sole 399,721
AUTODESK INC CMN Common Stock 052769106 212 7,000 SH Sole 7,000
ADVANCE AMER, CASH ADVANCE CMN Common Stock 00739W107 318 35,545 SH Sole 35,545
CENTERS,INC.
AMERICAN EAGLE OUTFITTERS INC (NEW) Common Stock 02553E106 459 30,000 SH Sole 30,000
AEP INDUSTRIES INC CMN Common Stock 001031103 2,393 85,000 SH Sole 85,000
AETNA INC CMN Common Stock 00817Y108 633 15,000 SH Sole 15,000
ASSURED GUARANTY LTD. CMN Common Stock G0585R106 1,314 100,000 SH Sole 100,000
ASPEN INSURANCE HOLDINGS LTD CMN Common Stock G05384105 928 35,000 SH Sole 35,000
AMN HEALTHCARE SERVICES INC CMN Common Stock 001744101 389 87,804 SH Sole 87,804
AMERICAN INTL GROUP, INC. CMN Common Stock 026874784 1,297 55,900 SH Sole 55,900
AMERICAN LORAIN CORPORATION CMN Common Stock 027297100 129 80,334 SH Sole 80,334
ALTERRA CAPITAL HOLDINGS LIMIT CMN Common Stock G0229R108 236 10,000 SH Sole 10,000
AMERICAN NATIONAL BANKSHARES CMN Common Stock 027745108 263 13,505 SH Sole 13,505
AMERICAN RIVER BANKSHARES CMN Common Stock 029326105 51 11,292 SH Sole 11,292
AON CORPORATION CMN Common Stock 037389103 328 7,000 SH Sole 7,000
APOLLO GLOBAL MANAGEMENT, LLC CMN CLASS A Common Stock 037612306 124 10,000 SH Sole 10,000
APOGEE ENTERPRISES INC CMN Common Stock 037598109 124 10,093 SH Sole 10,093
APOLLO GROUP CLASS A COMMON STOCK Common Stock 037604105 1,347 25,000 SH Sole 25,000
AEROPOSTALE, INC. CMN Common Stock 007865108 763 50,000 SH Sole 50,000
ARROW ELECTRONICS INC. CMN Common Stock 042735100 374 10,000 SH Sole 10,000
ASTA FUNDING INC CMN Common Stock 046220109 1,257 157,494 SH Sole 157,494
AMERICAN SAFETY INSURANCE HLDS CMN Common Stock G02995101 481 22,103 SH Sole 22,103
AVNET INC. CMN Common Stock 053807103 933 30,000 SH Sole 30,000
AMERICAN EXPRESS CO. CMN Common Stock 025816109 943 20,000 SH Sole 20,000
BANK OF AMERICA CORP CMN Common Stock 060505104 3,058 550,000 SH Sole 550,000
CALL/BAC @ 7 EXP 05/19/2012 Equity Option 060505904 2 100 SH CALL Sole 100
CALL/BAC @ 8 EXP 05/19/2012 Equity Option 060505904 1 100 SH CALL Sole 100
CALL/BAC @ 10 EXP 08/18/2012 Equity Option 060505904 3 300 SH CALL Sole 300
CALL/BAC @ 11 EXP 08/18/2012 Equity Option 060505904 0 79 SH CALL Sole 79
CALL/BAC @ 5 EXP 01/19/2013 Equity Option 060505904 15 100 SH CALL Sole 100
CALL/BAC @ 10 EXP 01/19/2013 Equity Option 060505904 3 150 SH CALL Sole 150
CALL/BAC @ 12.5 EXP 01/19/2013 Equity Option 060505904 5 500 SH CALL Sole 500
EINSTEIN NOAH RESTAURANT GROUP, INC CMN Common Stock 28257U104 255 16,139 SH Sole 16,139
BANNER CORPORATION CMN Common Stock 06652V208 245 14,285 SH Sole 14,285
BEASLEY BROADCAST GROUP INC CMN CLASS A Common Stock 074014101 102 32,469 SH Sole 32,469
BRUNSWICK CORP. CMN Common Stock 117043109 272 15,037 SH Sole 15,037
BEL FUSE INC CL-B CMN CLASS B Common Stock 077347300 498 26,558 SH Sole 26,558
BEACON FEDERAL BANCORP INC CMN Common Stock 073582108 173 12,468 SH Sole 12,468
BANKFINANCIAL CORP. CMN Common Stock 06643P104 130 23,553 SH Sole 23,553
GENERAL CABLE CORP CMN Common Stock 369300108 1,173 46,900 SH Sole 46,900
THE BANK OF NY MELLON CORP CMN Common Stock 064058100 697 35,000 SH Sole 35,000
BP P.L.C. SPONSORED ADR CMN Dep. Receipt 055622104 1,282 30,000 SH Sole 30,000
BRADY CORP CLASS-A CMN CLASS A Common Stock 104674106 352 11,151 SH Sole 11,151
BERKSHIRE HATHAWAY INC CL-A (DEL) CLASS A Common Stock 084670108 17,213 150 SH Sole 150
BASSETT FURNITURE CMN Common Stock 070203104 1,243 165,964 SH Sole 165,964
BURNHAM HOLDINGS INC CMN Common Stock 122295108 148 10,968 SH Sole 10,968
BROADVISION, INC CMN Common Stock 111412706 222 20,288 SH Sole 20,288
BLUEGREEN CORPORATION CMN Common Stock 096231105 439 156,106 SH Sole 156,106
CACHE INC NEW CMN Common Stock 127150308 124 20,000 SH Sole 20,000
CAMCO FINL CORP CMN Common Stock 132618109 264 211,410 SH Sole 211,410
CALLIDUS SOFTWARE INC CMN Common Stock 13123E500 287 44,700 SH Sole 44,700
AVIS BUDGET GROUP, INC. CMN Common Stock 053774105 289 27,000 SH Sole 27,000
CHINA INTEGRATED ENERGY INC CMN Common Stock 16948P105 39 100,610 SH Sole 100,610
CAMBREX CORPORATION CMN Common Stock 132011107 291 40,490 SH Sole 40,490
CBIZ, INC. CMN Common Stock 124805102 502 82,144 SH Sole 82,144
CROSS CTRY HEALTHCARE INC CMN Common Stock 227483104 227 40,857 SH Sole 40,857
C D I CORP CMN Common Stock 125071100 659 47,728 SH Sole 47,728
CENTRAL BANCORP INC CMN Common Stock 152418109 1,262 74,005 SH Sole 74,005
CAREER EDUCATION CORP CMN Common Stock 141665109 199 25,000 SH Sole 25,000
CULP INC CMN Common Stock 230215105 298 35,000 SH Sole 35,000
C&D TECHNOLOGIES INC CMN Common Stock 124661208 598 61,455 SH Sole 61,455
CHEMTURA CORPORATION CMN Common Stock 163893209 493 43,507 SH Sole 43,507
CHICO'S FAS INC CMN Common Stock 168615102 668 60,000 SH Sole 60,000
CNINSURE INC. SPONSORED ADR CMN Dep. Receipt 18976M103 69 10,000 SH Sole 10,000
CENTURY BANCORP INC CL-A NON VTG CLASS A Common Stock 156432106 242 8,573 SH Sole 8,573
CNO FINANCIAL GROUP INC CMN Common Stock 12621E103 1,417 224,633 SH Sole 224,633
CENTURY CASINOS INC CMN Common Stock 156492100 282 111,365 SH Sole 111,365
COMPASS DIVERSIFIED HOLDINGS CMN Part. Shares 20451Q104 128 10,300 SH Sole 10,300
CAPITAL ONE FINANCIAL CORP CMN Common Stock 14040H105 846 20,000 SH Sole 20,000
COWEN GROUP, INC. CMN Common Stock 223622101 2,778 1,072,609 SH Sole 1,072,609
CITIZENS REPUBLIC BANCORP INC CMN Common Stock 174420307 1,824 160,000 SH Sole 160,000
CHROMCRAFT REVINGTON INC COM CMN Common Stock 171117104 11 10,491 SH Sole 10,491
CRAWFORD & CO CL-A CMN CLASS A Common Stock 224633206 43 10,552 SH Sole 10,552
CROWN CRAFTS INC CMN Common Stock 228309100 36 10,830 SH Sole 10,830
COGDELL SPENCER INC CMN REIT 19238U107 1,190 280,000 SH Sole 280,000
CARRIAGE SERVICES, INC. CMN Common Stock 143905107 1,057 188,810 SH Sole 188,810
CHARLES & COLVARD LTD CMN Common Stock 159765106 35 13,702 SH Sole 13,702
CONTINENTAL MATERIALS CORP CMN Common Stock 211615307 313 26,190 SH Sole 26,190
CVS CAREMARK CORPORATION CMN Common Stock 126650100 1,631 40,000 SH Sole 40,000
COVENANT TRANSPORTATION GRP INC CMN Common Stock 22284P105 82 27,708 SH Sole 27,708
CLASS A
CHEVRON CORPORATION CMN Common Stock 166764100 638 6,000 SH Sole 6,000
CYBEROPTICS CORP CMN Common Stock 232517102 300 38,480 SH Sole 38,480
DANA HOLDING CORPORATION CMN Common Stock 235825205 486 40,000 SH Sole 40,000
DIME COMMUNITY BANCSHARES CMN Common Stock 253922108 126 10,000 SH Sole 10,000
DOVER DOWNS GAMING & ENTMT INC CMN Common Stock 260095104 734 342,925 SH Sole 342,925
DISCOVER FINANCIAL SERVICES CMN Common Stock 254709108 674 28,100 SH Sole 28,100
DGT HOLDINGS CORP CMN Common Stock 23328R107 2,023 184,279 SH Sole 184,279
DOVER SADDLERY, INC. CMN Common Stock 260412101 1,512 377,896 SH Sole 377,896
DSP GROUP INC CMN Common Stock 23332B106 155 29,798 SH Sole 29,798
DESWELL INDUSTRIES INC CMN Common Stock 250639101 155 72,033 SH Sole 72,033
DATALINK CORP CMN Common Stock 237934104 158 19,084 SH Sole 19,084
DOVER MOTORSPORTS INC CMN Common Stock 260174107 81 78,163 SH Sole 78,163
DIXIE GROUP INC CMN CLASS A Common Stock 255519100 88 30,030 SH Sole 30,030
EBAY INC. CMN Common Stock 278642103 1,062 35,000 SH Sole 35,000
EDCI HLDGS INC CMN Common Stock 268315207 1,248 249,500 SH Sole 249,500
EQUIFAX INC CMN Common Stock 294429105 387 10,000 SH Sole 10,000
ENDURANCE SPECIALTY HLDGS LTD CMN Common Stock G30397106 1,148 30,000 SH Sole 30,000
ENERGIZER HOLDINGS, INC. CMN Common Stock 29266R108 232 3,000 SH Sole 3,000
ENTEGRIS, INC. CMN Common Stock 29362U104 175 20,000 SH Sole 20,000
ENSCO PLC SPON ADR Dep. Receipt 29358Q109 375 8,000 SH Sole 8,000
E*TRADE FINANCIAL CORPORATION CMN Common Stock 269246401 796 100,000 SH Sole 100,000
ENTERCOM COMMS. CORP CLASS A COMMON STOCK Common Stock 293639100 62 10,000 SH Sole 10,000
ENTRAVISION COMMUNICATIONS CP CMN CLASS A Common Stock 29382R107 1,647 1,056,048 SH Sole 1,056,048
FROZEN FOOD EXPRESS INDS INC CMN Common Stock 359360104 507 392,734 SH Sole 392,734
FLUSHING FINANCIAL CORPORATION CMN Common Stock 343873105 189 15,000 SH Sole 15,000
FAIR ISAAC INC CMN Common Stock 303250104 785 21,900 SH Sole 21,900
FIFTH THIRD BANCORP CMN Common Stock 316773100 636 50,000 SH Sole 50,000
FLANDERS CORPORATION CMN Common Stock 338494107 229 75,000 SH Sole 75,000
FLEXSTEEL INDUSTRIES INC CMN Common Stock 339382103 877 63,347 SH Sole 63,347
FIRST PLACE FINANCIAL CORPORATION CMN Common Stock 33610T109 28 54,781 SH Sole 54,781
FIVE STAR QUALITY CARE INC CMN Common Stock 33832D106 556 185,223 SH Sole 185,223
GENCOR INDUSTRIES INC CMN Common Stock 368678108 910 131,083 SH Sole 131,083
W.R. GRACE & CO (NEW) CMN Common Stock 38388F108 1,107 24,100 SH Sole 24,100
AGRIA CORPORATION SPONSORED ADR CMN Dep. Receipt 00850H103 90 86,579 SH Sole 86,579
U.S. GLOBAL INVESTORS INC A CMN Common Stock 902952100 222 36,800 SH Sole 36,800
GOLDMAN SACHS GROUP, INC.(THE) CMN Common Stock 38141G104 2,035 22,500 SH Sole 22,500
GLOBAL SOURCES LIMITED CMN ISIN: Common Stock G39300101 668 137,629 SH Sole 137,629
BMG393001018
HANMI FINANCIAL CORPORATION CMN Common Stock 410495204 1,076 145,377 SH Sole 145,377
HARVARD BIOSCIENCE INC CMN Common Stock 416906105 131 33,887 SH Sole 33,887
HUTTIG BUILDING PRODUCTS INC CMN Common Stock 448451104 294 566,276 SH Sole 566,276
HARDINGE INC. COMMON STOCK Common Stock 412324303 882 109,622 SH Sole 109,622
H&E EQUIPMENT SERVICES INC CMN Common Stock 404030108 671 50,000 SH Sole 50,000
HOLLYFRONTIER CORP CMN Common Stock 436106108 725 30,980 SH Sole 30,980
HOOPER HOLMES INC CMN Common Stock 439104100 241 402,203 SH Sole 402,203
HUDSON HIGHLAND GROUP, INC. CMN Common Stock 443792106 1,741 363,366 SH Sole 363,366
DOT HILL SYSTEMS CORP CMN Common Stock 25848T109 27 20,000 SH Sole 20,000
HEELYS, INC. CMN Common Stock 42279M107 253 136,820 SH Sole 136,820
HOLLYWOOD MEDIA CORP CMN Common Stock 436233100 577 454,300 SH Sole 454,300
H & R BLOCK INC. CMN Common Stock 093671105 653 40,000 SH Sole 40,000
HORMEL FOODS CORP CMN Common Stock 440452100 469 16,000 SH Sole 16,000
HEIDRICK & STRUGGLES INC. CMN Common Stock 422819102 392 18,206 SH Sole 18,206
HERTZ GLOBAL HOLDINGS, INC. CMN Common Stock 42805T105 448 38,200 SH Sole 38,200
HUBBELL INCORPORATED CLASS B CMN CLASS B Common Stock 443510201 301 4,500 SH Sole 4,500
HUMANA INC. CMN Common Stock 444859102 263 3,000 SH Sole 3,000
HAWTHORN BANCSHARES INC CMN Common Stock 420476103 150 24,780 SH Sole 24,780
MARINEMAX INC CMN Common Stock 567908108 132 20,200 SH Sole 20,200
ISHARES DOW JONES U.S. UTILITIES Mutual Fund 464287697 486 5,500 SH Sole 5,500
SECTORINDEX FUND ETF
INTEGRATED ELECTRICAL SVC INC CMN Common Stock 45811E301 56 30,000 SH Sole 30,000
INDEPENDENCE HOLDING COMPANY (NEW) Common Stock 453440307 852 104,806 SH Sole 104,806
INFORMATION SVCS GRP, INC. CMN Common Stock 45675Y104 202 195,781 SH Sole 195,781
INSTEEL INDUSTRIES INC CMN Common Stock 45774W108 1,997 181,695 SH Sole 181,695
INFUSYSTEM HOLDINGS, INC. CMN Common Stock 45685K102 1,597 991,627 SH Sole 991,627
INVESTORS TITLE CO CMN Common Stock 461804106 236 6,598 SH Sole 6,598
INTERTAPE POLYMER GROUP INC CMN Common Stock 460919103 353 108,533 SH Sole 108,533
ITURAN LOCATION & CONTROL LTD CMN Common Stock M6158M104 137 10,016 SH Sole 10,016
JOE'S JEANS INC CMN Common Stock 47777N101 178 339,786 SH Sole 339,786
JPMORGAN CHASE & CO CMN Common Stock 46625H100 1,164 35,000 SH Sole 35,000
JPS INDUSTRIES, INC. CMN Common Stock 46624E405 1,499 202,608 SH Sole 202,608
JOURNAL COMMUNICATIONS INC CMN CLASS A Common Stock 481130102 132 30,000 SH Sole 30,000
KELLY SERVICES INC(CL-A) CMN CLASS A Common Stock 488152208 202 14,744 SH Sole 14,744
KEYCORP CMN Common Stock 493267108 615 80,000 SH Sole 80,000
KRAFT FOODS INC. CMN CLASS A Common Stock 50075N104 2,767 74,056 SH Sole 74,056
KORN/FERRY INTERNATIONAL CMN Common Stock 500643200 172 10,070 SH Sole 10,070
KKR & CO. L.P. CMN Part. Shares 48248M102 128 10,000 SH Sole 10,000
COCA-COLA COMPANY (THE) CMN Common Stock 191216100 1,329 19,000 SH Sole 19,000
LAWSON PRODUCTS INC CMN Common Stock 520776105 178 11,568 SH Sole 11,568
LIBBEY INC. CMN Common Stock 529898108 255 20,000 SH Sole 20,000
LANNETT COMPANY, INC CMN Common Stock 516012101 295 66,792 SH Sole 66,792
LYDALL INC CMN Common Stock 550819106 1,201 126,530 SH Sole 126,530
LINCOLN EDL SERVICES CORP CMN Common Stock 533535100 115 14,510 SH Sole 14,510
LKQ CORPORATION CMN Common Stock 501889208 1,654 55,000 SH Sole 55,000
LYONDELLBASELL INDUSTRIES N.V.CMN CLASSA Common Stock N53745100 650 20,000 SH Sole 20,000
LSI INDUSTRIES INC CMN Common Stock 50216C108 363 60,520 SH Sole 60,520
MASTERCARD INCORPORATED CMN CLASS A Common Stock 57636Q104 2,796 7,500 SH Sole 7,500
MATERIAL SCIENCES CORP CMN Common Stock 576674105 1,885 229,320 SH Sole 229,320
MBIA INC CMN Common Stock 55262C100 116 10,000 SH Sole 10,000
MEDNAX INC CMN Common Stock 58502B106 360 5,000 SH Sole 5,000
MAIDENFORM BRANDS, INC. CMN Common Stock 560305104 183 10,000 SH Sole 10,000
MFRI INC CMN Common Stock 552721102 221 31,880 SH Sole 31,880
MCGRAW-HILL COMPANIES INC CMN Common Stock 580645109 2,024 45,000 SH Sole 45,000
MFC INDUSTRIAL LTD CMN Common Stock 55278T105 291 41,518 SH Sole 41,518
MARSH & MCLENNAN CO INC CMN Common Stock 571748102 496 15,700 SH Sole 15,700
MIDWESTONE FINANCIAL GROUP INC CMN Common Stock 598511103 528 36,100 SH Sole 36,100
MOVADO GROUP INC CMN Common Stock 624580106 257 14,165 SH Sole 14,165
MRV COMMUNICATIONS, INC CMN Common Stock 553477100 817 950,063 SH Sole 950,063
MORGAN STANLEY CMN Common Stock 617446448 1,906 126,000 SH Sole 126,000
CALL/MS @ 15 EXP 01/21/2012 Equity Option 617446908 9 100 SH CALL Sole 100
CALL/MS @ 16 EXP 01/21/2012 Equity Option 617446908 5 110 SH CALL Sole 110
CALL/MS @ 17.5 EXP 01/21/2012 Equity Option 617446908 2 103 SH CALL Sole 103
CALL/MS @ 19 EXP 01/21/2012 Equity Option 617446908 2 300 SH CALL Sole 300
CALL/MS @ 20 EXP 01/21/2012 Equity Option 617446908 1 300 SH CALL Sole 300
CALL/MS @ 21 EXP 01/21/2012 Equity Option 617446908 1 211 SH CALL Sole 211
CALL/MS @ 11 EXP 04/21/2012 Equity Option 617446908 47 100 SH CALL Sole 100
CALL/MS @ 12 EXP 04/21/2012 Equity Option 617446908 40 100 SH CALL Sole 100
CALL/MS @ 13 EXP 04/21/2012 Equity Option 617446908 64 200 SH CALL Sole 200
CALL/MS @ 15 EXP 04/21/2012 Equity Option 617446908 80 400 SH CALL Sole 400
CALL/MS @ 16 EXP 04/21/2012 Equity Option 617446908 8 50 SH CALL Sole 50
CALL/MS @ 17 EXP 04/21/2012 Equity Option 617446908 6 51 SH CALL Sole 51
CALL/MS @ 19 EXP 04/21/2012 Equity Option 617446908 10 150 SH CALL Sole 150
CALL/MS @ 21 EXP 04/21/2012 Equity Option 617446908 7 200 SH CALL Sole 200
CALL/MS @ 22 EXP 04/21/2012 Equity Option 617446908 2 72 SH CALL Sole 72
CALL/MS @ 20 EXP 01/18/2014 Equity Option 617446908 9 30 SH CALL Sole 30
MICROSOFT CORPORATION CMN Common Stock 594918104 2,207 85,000 SH Sole 85,000
MICROSTRATEGY INC CMN CLASS A Common Stock 594972408 306 2,821 SH Sole 2,821
MENS WEARHOUSE INC (THE) CMN Common Stock 587118100 846 26,100 SH Sole 26,100
NCI BUILDING SYSTEMS, INC. CMN Common Stock 628852204 510 46,931 SH Sole 46,931
NASDAQ OMX GROUP, INC. CMN Common Stock 631103108 245 10,000 SH Sole 10,000
NEW HAMPSHIRE THRIFT BANCSHARES INC Common Stock 644722100 2,020 178,765 SH Sole 178,765
NN INC CMN Common Stock 629337106 60 10,000 SH Sole 10,000
OPTICAL CABLE CORP CMN Common Stock 683827208 83 26,005 SH Sole 26,005
ORIENTAL FINANCIAL GROUP CMN Common Stock 68618W100 164 13,570 SH Sole 13,570
ONE LIBERTY PROPERTIES INC CMN REIT 682406103 330 20,000 SH Sole 20,000
OMNICOM GROUP CMN Common Stock 681919106 624 14,000 SH Sole 14,000
PACER INTERNATIONAL INC CMN Common Stock 69373H106 54 10,000 SH Sole 10,000
PAR TECHNOLOGY CORP CMN Common Stock 698884103 242 61,385 SH Sole 61,385
PARLUX FRAGRANCES CMN Common Stock 701645103 74 14,564 SH Sole 14,564
PC-TEL INC CMN Common Stock 69325Q105 182 26,547 SH Sole 26,547
PEPSICO INC CMN Common Stock 713448108 2,654 40,000 SH Sole 40,000
PROGRESSIVE CORPORATION (THE) CMN Common Stock 743315103 488 25,000 SH Sole 25,000
PGT INC CMN Common Stock 69336V101 305 296,373 SH Sole 296,373
PHH CORPORATION CMN Common Stock 693320202 1,391 130,000 SH Sole 130,000
PULTE HOMES, INC. CMN Common Stock 745867101 820 130,000 SH Sole 130,000
PARKWAY PROPERTIES INC MD CMN REIT 70159Q104 147 14,950 SH Sole 14,950
PRESIDENTIAL LIFE CORP CMN Common Stock 740884101 2,498 250,025 SH Sole 250,025
PHILIP MORRIS INTL INC CMN Common Stock 718172109 471 6,000 SH Sole 6,000
PSYCHEMEDICS CORPORATION CMN Common Stock 744375205 777 85,358 SH Sole 85,358
PNC FINANCIAL SERVICES GROUP CMN Common Stock 693475105 865 15,000 SH Sole 15,000
PINNACLE AIRLINES CORP CMN Common Stock 723443107 66 80,000 SH Sole 80,000
PACIFIC PREMIER BANCORP CMN Common Stock 69478X105 124 19,519 SH Sole 19,519
PPL CORPORATION CMN Common Stock 69351T106 265 9,000 SH Sole 9,000
PERCEPTRON INC CMN Common Stock 71361F100 506 106,203 SH Sole 106,203
PARTNERRE LTD BERMUDA CMN Common Stock G6852T105 1,573 24,500 SH Sole 24,500
PLATINUM UNDERWRITERS HLDGS CMN Common Stock G7127P100 5,535 162,275 SH Sole 162,275
P.A.M. TRANSPORTATION SVCS INC CMN Common Stock 693149106 300 31,544 SH Sole 31,544
PARKVALE FINANCIAL CORP CMN Common Stock 701492100 1,004 40,857 SH Sole 40,857
QC HOLDINGS, INC. CMN Common Stock 74729T101 121 30,000 SH Sole 30,000
QLT INC. CMN Common Stock 746927102 572 79,489 SH Sole 79,489
QUALITY DISTRIBUTION, INC. CMN Common Stock 74756M102 498 44,300 SH Sole 44,300
RAIT FINANCIAL TRUST CMN REIT 749227609 143 30,000 SH Sole 30,000
RENT-A-CENTER INC CMN Common Stock 76009N100 370 10,000 SH Sole 10,000
RCM TECHNOLOGIES INC CMN Common Stock 749360400 137 26,497 SH Sole 26,497
REDDY ICE HOLDINGS, INC. CMN Common Stock 75734R105 72 300,075 SH Sole 300,075
EVEREST RE GROUP LTD CMN Common Stock G3223R108 529 6,287 SH Sole 6,287
RESOURCE AMERICA INC CL-A CMN CLASS A Common Stock 761195205 583 125,000 SH Sole 125,000
RICK'S CABARET INTERNATIONAL INC (NEW) Common Stock 765641303 513 60,658 SH Sole 60,658
GIBRALTAR INDUSTRIES INC CMN Common Stock 374689107 2,518 180,389 SH Sole 180,389
SALEM COMMUNICATIONS CL-A CMN CLASS A Common Stock 794093104 52 20,045 SH Sole 20,045
SANMINA-SCI CORPORATION CMN Common Stock 800907206 93 10,000 SH Sole 10,000
SINCLAIR BROADCAST GROUP INC CMN CLASS A Common Stock 829226109 113 10,000 SH Sole 10,000
SEABRIGHT HLDG INC CMN Common Stock 811656107 93 12,200 SH Sole 12,200
CHARLES SCHWAB CORPORATION CMN Common Stock 808513105 225 20,000 SH Sole 20,000
SERVICE CORP INTERNATL CMN Common Stock 817565104 213 20,000 SH Sole 20,000
STEELCASE INC. CLASS A COMMON STOCK Common Stock 858155203 112 15,000 SH Sole 15,000
SED INTERNATIONAL HLDGS INC CMN Common Stock 784109209 117 47,882 SH Sole 47,882
SPAR GROUP INC CMN Common Stock 784933103 894 894,090 SH Sole 894,090
SL INDS INC CMN Common Stock 784413106 1,003 61,929 SH Sole 61,929
SANDISK CORP CMN Common Stock 80004C101 344 7,000 SH Sole 7,000
SUPERTEL HOSPITALITY INC CMN REIT 868526104 464 707,907 SH Sole 707,907
SURMODICS INC CMN Common Stock 868873100 650 44,318 SH Sole 44,318
STEWART INFORMATION SVCS CORP CMN Common Stock 860372101 1,849 160,065 SH Sole 160,065
STEWART ENTERPRISES INC CLASS A Common Stock 860370105 1,452 252,111 SH Sole 252,111
SUNTRUST BANKS INC $1.00 PAR CMN Common Stock 867914103 885 50,000 SH Sole 50,000
STANLEY FURNITURE INC (NEW) CMN Common Stock 854305208 137 45,763 SH Sole 45,763
STRATUS PPTYS INC CMN Common Stock 863167201 2,149 275,191 SH Sole 275,191
STATE STREET CORPORATION (NEW) CMN Common Stock 857477103 4,837 120,000 SH Sole 120,000
CALL/STT @ 41 EXP 02/18/2012 Equity Option 857477903 16 93 SH CALL Sole 93
CALL/STT @ 50 EXP 02/18/2012 Equity Option 857477903 0 100 SH CALL Sole 100
CALL/STT @ 52.5 EXP 02/18/2012 Equity Option 857477903 0 100 SH CALL Sole 100
CALL/STT @ 55 EXP 02/18/2012 Equity Option 857477903 0 200 SH CALL Sole 200
SENSIENT TECHNOLOGIES CORP CMN Common Stock 81725T100 303 8,000 SH Sole 8,000
SYMETRA FINANCIAL CORPORATION CMN Common Stock 87151Q106 181 20,000 SH Sole 20,000
SYNALLOY CORP. CMN Common Stock 871565107 103 10,000 SH Sole 10,000
SYPRIS SOLUTIONS INC (DE) CMN Common Stock 871655106 1,365 348,282 SH Sole 348,282
CARROLS RESTAURANT GROUP INC CMN Common Stock 14574X104 2,314 200,000 SH Sole 200,000
TRANSGENOMIC, INC. CMN Common Stock 89365K206 13 10,000 SH Sole 10,000
21ST CENTURY HOLDING CO. CMN Common Stock 90136Q100 100 33,636 SH Sole 33,636
THERAGENICS CORP CMN Common Stock 883375107 660 392,833 SH Sole 392,833
TOLL BROTHERS, INC. CMN Common Stock 889478103 2,450 120,000 SH Sole 120,000
THOMAS PPTYS GROUP INC CMN Common Stock 884453101 1,003 301,141 SH Sole 301,141
TRINITY BIOTECH PLC SPONSORED ADR CMN Dep. Receipt 896438306 350 34,400 SH Sole 34,400
TOTAL SYS SVC INC. CMN Common Stock 891906109 587 30,000 SH Sole 30,000
TOWERS WATSON & CO CMN CLASS A Common Stock 891894107 479 8,000 SH Sole 8,000
TYCO INTERNATIONAL LTD CMN Common Stock H89128104 1,635 35,000 SH Sole 35,000
UNITED CONTINENTAL HOLDING INC CMN Common Stock 910047109 802 42,500 SH Sole 42,500
UNITED BANCSHARES INC OHIO CMN Common Stock 909458101 410 59,700 SH Sole 59,700
AMERCO CMN Common Stock 023586100 531 6,010 SH Sole 6,010
UNILEVER N.V. NY SHS (NEW) ADR CMN Dep. Receipt 904784709 1,031 30,000 SH Sole 30,000
UNITEDHEALTH GROUP INCORPORATE*D CMN Common Stock 91324P102 3,193 63,000 SH Sole 63,000
UNITED ONLINE INC CMN Common Stock 911268100 705 129,647 SH Sole 129,647
UNITED PARCEL SERVICE, INC. CLASS B Common Stock 911312106 878 12,000 SH Sole 12,000
COMMON STOCK
UNITED RENTALS, INC. CMN Common Stock 911363109 236 8,000 SH Sole 8,000
USA MOBILITY INC CMN Common Stock 90341G103 624 45,000 SH Sole 45,000
U S PHYSICAL THERAPY INC CMN Common Stock 90337L108 1,465 74,429 SH Sole 74,429
UNIVERSAL TECHNICAL INSTITUTE CMN Common Stock 913915104 634 49,592 SH Sole 49,592
UNITED TECHNOLOGIES CORP CMN Common Stock 913017109 292 4,000 SH Sole 4,000
VISA INC. CMN CLASS A Common Stock 92826C839 2,335 23,000 SH Sole 23,000
VALASSIS COMMUNICATIONS INC CMN Common Stock 918866104 1,623 84,400 SH Sole 84,400
VF CORP CMN Common Stock 918204108 1,016 8,000 SH Sole 8,000
VODAFONE GROUP PLC SPONSORED ADR CMN Dep. Receipt 92857W209 420 15,000 SH Sole 15,000
VERINT SYSTEMS, INC. CMN Common Stock 92343X100 953 34,600 SH Sole 34,600
VIAD CORP CMN Common Stock 92552R406 1,439 82,297 SH Sole 82,297
WEST COAST BANCORP CMN Common Stock 952145209 224 14,380 SH Sole 14,380
WELLCARE HEALTH PLANS INC CMN Common Stock 94946T106 263 5,000 SH Sole 5,000
WEBCO INDS INC CMN Common Stock 947621207 1,263 10,707 SH Sole 10,707
WELLS FARGO & CO (NEW) CMN Common Stock 949746101 2,480 90,000 SH Sole 90,000
WILLBROS GROUP, INC CMN Common Stock 969203108 228 62,162 SH Sole 62,162
WILLDAN GROUP INC CMN Common Stock 96924N100 808 204,100 SH Sole 204,100
WILLIS LEASE FINANCE CORP CMN Common Stock 970646105 1,743 145,822 SH Sole 145,822
WELLPOINT, INC. CMN Common Stock 94973V107 828 12,500 SH Sole 12,500
WEST MARINE INC CMN Common Stock 954235107 417 35,847 SH Sole 35,847
WAL MART STORES INC CMN Common Stock 931142103 1,912 32,000 SH Sole 32,000
WARREN RESOURCES INC. CMN Common Stock 93564A100 977 299,611 SH Sole 299,611
WESTERN UNION COMPANY (THE) CMN Common Stock 959802109 457 25,000 SH Sole 25,000
EXXON MOBIL CORPORATION CMN Common Stock 30231G102 1,187 14,000 SH Sole 14,000
SEALY CORPORATION CONV PFD Preferred 812139400 1,236 21,787 SH Sole 21,787
USD0.0000(0.00%) PFD Stock