-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Ct0PvPkbN6EmyRzynYyC8zEpMUnu9saZAgBFtWgbLsCxizCPm7zEg9zdbXALRym+ 5ZnlFbEfzRm+m9BmCmV/8A== 0001158202-10-000007.txt : 20100514 0001158202-10-000007.hdr.sgml : 20100514 20100514152801 ACCESSION NUMBER: 0001158202-10-000007 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20100331 FILED AS OF DATE: 20100514 DATE AS OF CHANGE: 20100514 EFFECTIVENESS DATE: 20100514 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PENN CAPITAL MANAGEMENT CO INC CENTRAL INDEX KEY: 0001158202 IRS NUMBER: 222796848 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-11296 FILM NUMBER: 10832987 BUSINESS ADDRESS: STREET 1: 3 CRESCENT DRIVE, SUITE 400 CITY: PHILADELPHIA STATE: PA ZIP: 19112 BUSINESS PHONE: 2153021532 MAIL ADDRESS: STREET 1: 3 CRESCENT DRIVE, SUITE 400 CITY: PHILADELPHIA STATE: PA ZIP: 19112 13F-HR 1 pcm1q201013f.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13 FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: March 31, 2010 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: PENN Capital Management Co, Inc. Address: Navy Yard Corporate Center, 3 Crescent Drive, Suite 400 Philadelphia, PA 19112 Form 13F File Number: 28-00025 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: Eric J. Green Title: Director of Research Phone: 215-302-1500 Signature, Place, and Date of Signing: Eric J. Green Philadelphia, PA May 14, 2010 Report Type (Check only one.): [X] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT. List of Other Managers Reporting for this Manager: FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 272 Form 13F Information Table Value Total: 2,336,276 List of Other Included Managers: NONE Issuer Class CUSIP Value Shrs/ SH/ PUT/ Inv. Other Vot. Authority (x1000) PRN AMT PRN CALL Discretion Managers Sole Shared None AAR CORP COM 000361 10 5 2,862 115,326 SH SOLE 115,326 A D C TELECOMMUNIC COM NEW 000886 30 9 19,094 2,612,132 SH SOLE 2,612,132 A D C TELECOMMUNIC NOTE 000886 AE 1 3,418 4,150,000 PRN SOLE 4,150,000 AGCO CORP COM 001084 10 2 23,110 644,279 SH SOLE 644,279 AGCO CORP NOTE 001084 AM 4 515 465,000 PRN SOLE 465,000 AK STL HLDG CORP COM 001547 10 8 17,709 774,676 SH SOLE 774,676 ABERCROMBIE & FITC CL A 002896 20 7 20,494 449,025 SH SOLE 449,025 AEROPOSTALE COM 007865 10 8 6,646 230,522 SH SOLE 230,522 AFFILIATED MANAGER COM 008252 10 8 9,489 120,112 SH SOLE 120,112 ALLEGHANY CORP DEL COM 017175 10 0 8,790 30,225 SH SOLE 30,225 ALLEGHENY ENERGY I COM 017361 10 6 6,481 281,747 SH SOLE 281,747 ALPHA NATURAL RESO COM 02076X 10 2 17,822 357,234 SH SOLE 357,234 AMERICAN TOWER COR CL A 029912 20 1 5,932 139,210 SH SOLE 139,210 ARIBA INC COM NEW 04033V 20 3 5,554 432,224 SH SOLE 432,224 ARVINMERITOR INC COM 043353 10 1 7,720 578,273 SH SOLE 578,273 ASHLAND INC NEW COM 044209 10 4 10,680 202,378 SH SOLE 202,378 AVIAT NETWORKS INC COM 05366Y 10 2 1,224 184,683 SH SOLE 184,683 BABCOCK & BROWN AI SPONSOR 05614P 10 1 745 72,043 SH SOLE 72,043 BALDOR ELEC CO COM 057741 10 0 10,254 274,153 SH SOLE 274,153 BALLY TECHNOLOGIES COM 05874B 10 7 22,959 566,339 SH SOLE 566,339 BANK OF AMERICA CO COM 060505 10 4 253 14,200 SH SOLE 14,200 BIO RAD LABS INC CL A 090572 20 7 6,088 58,812 SH SOLE 58,812 BLOUNT INTL INC NE COM 095180 10 5 1,139 109,932 SH SOLE 109,932 BLUEGREEN CORP COM 096231 10 5 230 70,311 SH SOLE 70,311 BRADY CORP CL A 104674 10 6 4,103 131,828 SH SOLE 131,828 BRINKER INTL INC COM 109641 10 0 16,897 876,375 SH SOLE 876,375 BROCADE COMMUNICAT COM NEW 111621 30 6 21,020 3,681,266 SH SOLE 3,681,266 CBS CORP NEW CL B 124857 20 2 5,410 388,077 SH SOLE 388,077 CABLEVISION SYS CO CL A NY 12686C 10 9 3,762 155,854 SH SOLE 155,854 CAPITALSOURCE INC DBCV 14055X AE 2 555 575,000 SH SOLE 575,000 CARMIKE CINEMAS IN COM 143436 40 0 753 54,288 SH SOLE 54,288 CARRIZO OIL & CO I NOTE 144577 AA 1 3,329 3,680,000 PRN SOLE 3,680,000 CATALYST HEALTH SO COM 14888B 10 3 5,393 130,340 SH SOLE 130,340 CATHAY GENERAL BAN COM 149150 10 4 508 43,705 SH SOLE 43,705 CELANESE CORP DEL COM SER 150870 10 3 4,837 151,873 SH SOLE 151,873 CENTENE CORP DEL COM 15135B 10 1 271 11,274 SH SOLE 11,274 CENTERSTATE BKS FL COM 15201P 10 9 598 48,880 SH SOLE 48,880 CENTRAL EUROPEAN D COM 153435 10 2 9,601 274,235 SH SOLE 274,235 CENTURY ALUM CO NOTE 156431 AE 8 7,152 7,595,000 PRN SOLE 7,595,000 CENTURY CASINOS IN COM 156492 10 0 537 214,799 SH SOLE 214,799 CEPHALON INC COM 156708 10 9 26,671 393,493 SH SOLE 393,493 CEPHALON INC NOTE 156708 AR 0 507 435,000 PRN SOLE 435,000 CHART INDS INC COM PAR 16115Q 30 8 7,420 370,993 SH SOLE 370,993 CHIMERA INVT CORP COM 16934Q 10 9 17,682 4,545,599 SH SOLE 4,545,599 CHIQUITA BRANDS IN COM 170032 80 9 762 48,426 SH SOLE 48,426 CITIGROUP INC UNIT 99 172967 41 6 5,241 43,000 SH SOLE 43,000 COGO GROUP INC COM 192448 10 8 690 98,749 SH SOLE 98,749 COINSTAR INC COM 19259P 30 0 6,223 191,465 SH SOLE 191,465 COINSTAR INC NOTE 19259P AF 9 1,017 945,000 PRN SOLE 945,000 COMERICA INC COM 200340 10 7 36,438 957,880 SH SOLE 957,880 COMMSCOPE INC COM 203372 10 7 23,520 839,362 SH SOLE 839,362 COMPLETE PRODUCTIO COM 20453E 10 9 7,691 665,907 SH SOLE 665,907 COMSTOCK RES INC COM NEW 205768 20 3 19,931 626,758 SH SOLE 626,758 COMTECH TELECOMMUN COM NEW 205826 20 9 6,275 195,951 SH SOLE 195,951 CON-WAY INC COM 205944 10 1 4,010 114,181 SH SOLE 114,181 CONSOL ENERGY INC COM 20854P 10 9 4,580 107,365 SH SOLE 107,365 CONSOLIDATED COMM COM 209034 10 7 347 18,307 SH SOLE 18,307 CONSTELLATION BRAN CL A 21036P 10 8 22,358 1,359,997 SH SOLE 1,359,997 COPANO ENERGY L L COM UNI 217202 10 0 254 10,505 SH SOLE 10,505 CORNELL COMPANIES COM 219141 10 8 231 12,615 SH SOLE 12,615 CROWN CASTLE INTL COM 228227 10 4 9,601 251,172 SH SOLE 251,172 CURTISS WRIGHT COR COM 231561 10 1 24,358 699,941 SH SOLE 699,941 DANA HOLDING CORP COM 235825 20 5 7,432 625,559 SH SOLE 625,559 DARDEN RESTAURANTS COM 237194 10 5 6,365 142,897 SH SOLE 142,897 DEER CONSUMER PROD COM NEW 24379J 20 0 1,150 94,694 SH SOLE 94,694 DIALYSIS CORP AMER COM 252529 10 2 315 50,767 SH SOLE 50,767 DIGITAL RIV INC COM 25388B 10 4 27,638 912,162 SH SOLE 912,162 DOLAN MEDIA CO COM 25659P 40 2 309 28,440 SH SOLE 28,440 DOUBLE-TAKE SOFTWA COM 258598 10 1 554 62,123 SH SOLE 62,123 DYNEGY INC DEL CL A 26817G 10 2 26 21,001 SH SOLE 21,001 EMS TECHNOLOGIES I COM 26873N 10 8 7,311 440,411 SH SOLE 440,411 EXCO RESOURCES INC COM 269279 40 2 28,724 1,562,726 SH SOLE 1,562,726 EDISON INTL COM 281020 10 7 4,556 133,308 SH SOLE 133,308 ENERGIZER HLDGS IN COM 29266R 10 8 12,072 192,352 SH SOLE 192,352 ENERSYS COM 29275Y 10 2 11,170 452,963 SH SOLE 452,963 EVOLVING SYS INC COM NEW 30049R 20 9 269 39,040 SH SOLE 39,040 EXIDE TECHNOLOGIES COM NEW 302051 20 6 9,901 1,719,114 SH SOLE 1,719,114 EXPRESS SCRIPTS IN COM 302182 10 0 4,182 41,097 SH SOLE 41,097 F M C CORP COM NEW 302491 30 3 6,180 102,075 SH SOLE 102,075 FMC TECHNOLOGIES I COM 30249U 10 1 485 7,502 SH SOLE 7,502 FAIRCHILD SEMICOND COM 303726 10 3 6,612 620,934 SH SOLE 620,934 FERRELLGAS PARTNER UNIT LT 315293 10 0 235 10,270 SH SOLE 10,270 FINISAR CORP COM NEW 31787A 50 7 28,785 1,839,294 SH SOLE 1,839,294 FIRST HORIZON NATL COM 320517 10 5 6,938 493,760 SH SOLE 493,760 FIRST INDUSTRIAL R COM 32054K 10 3 103 13,330 SH SOLE 13,330 FIRST MIDWEST BANC COM 320867 10 4 555 40,980 SH SOLE 40,980 1ST UNITED BANCORP COM 33740N 10 5 255 31,630 SH SOLE 31,630 FISERV INC COM 337738 10 8 4,497 88,587 SH SOLE 88,587 FLOW INTL CORP COM 343468 10 4 746 247,771 SH SOLE 247,771 FOREST LABS INC COM 345838 10 6 5,804 185,089 SH SOLE 185,089 FREEPORT-MCMORAN C PFD CON 35671D 78 2 2,864 24,700 SH SOLE 24,700 FULTON FINL CORP P COM 360271 10 0 18,542 1,817,765 SH SOLE 1,817,765 GLG LIFE TECH CORP COM NEW 361793 20 1 330 41,765 SH SOLE 41,765 GAMESTOP CORP NEW CL A 36467W 10 9 24,446 1,115,717 SH SOLE 1,115,717 GARDNER DENVER INC COM 365558 10 5 8,087 183,628 SH SOLE 183,628 GASCO ENERGY INC COM 367220 10 0 855 2,673,360 SH SOLE 2,673,360 GAYLORD ENTMT CO N COM 367905 10 6 11,023 376,325 SH SOLE 376,325 GENZYME CORP COM 372917 10 4 4,500 86,800 SH SOLE 86,800 GMX RES INC NOTE 38011M AB 4 6,393 7,800,000 PRN SOLE 7,800,000 GOODRICH PETE CORP COM NEW 382410 40 5 369 23,564 SH SOLE 23,564 GOODRICH PETE CORP NOTE 382410 AC 2 2,499 2,800,000 PRN SOLE 2,800,000 GRAFTECH INTL LTD COM 384313 10 2 8,223 601,582 SH SOLE 601,582 HAIN CELESTIAL GRO COM 405217 10 0 29,752 1,711,785 SH SOLE 1,711,785 HARSCO CORP COM 415864 10 7 5,798 181,535 SH SOLE 181,535 HARTFORD FINL SVCS COM 416515 10 4 11,382 400,503 SH SOLE 400,503 HEADWATERS INC COM 42210P 10 2 478 104,110 SH SOLE 104,110 HERSHA HOSPITALITY SH BEN 427825 10 4 508 98,074 SH SOLE 98,074 HOLOGIC INC COM 436440 10 1 32,767 1,767,384 SH SOLE 1,767,384 HOME BANCSHARES IN COM 436893 20 0 634 23,991 SH SOLE 23,991 HORIZON LINES INC COM 44044K 10 1 693 127,441 SH SOLE 127,441 HORIZON LINES INC NOTE 44044K AB 7 10,483 11,707,000 PRN SOLE 11,707,000 HOST HOTELS & RESO COM 44107P 10 4 224 15,319 SH SOLE 15,319 HUB GROUP INC CL A 443320 10 6 27,982 1,000,039 SH SOLE 1,000,039 HUNT J B TRANS SVC COM 445658 10 7 5,518 153,786 SH SOLE 153,786 ICU MED INC COM 44930G 10 7 370 10,726 SH SOLE 10,726 ICON PUB LTD CO SPONSOR 45103T 10 7 5,539 209,726 SH SOLE 209,726 INTEGRA LIFESCIENC COM NEW 457985 20 8 17,522 399,790 SH SOLE 399,790 INTERCLICK INC COM NEW 458483 20 3 258 67,115 SH SOLE 67,115 INTERNATIONAL COAL COM 45928H 10 6 191 41,745 SH SOLE 41,745 INTREPID POTASH IN COM 46121Y 10 2 8,075 266,225 SH SOLE 266,225 JACK IN THE BOX IN COM 466367 10 9 14,653 622,212 SH SOLE 622,212 JANUS CAP GRO 47102X 10 5 27,334 1,912,836 SH SOLE 1,912,836 JANUS CAP GRO 47102X AG 0 952 750,000 SH SOLE 750,000 JARDEN CORP COM 471109 10 8 4,298 129,094 SH SOLE 129,094 K V PHARMACEUTICAL NOTE 482740 AC 1 1,286 2,500,000 PRN SOLE 2,500,000 KANSAS CITY SOUTHE COM NEW 485170 30 2 19,340 534,699 SH SOLE 534,699 KENEXA CORP COM 488879 10 7 7,373 536,160 SH SOLE 536,160 KEY ENERGY SVCS IN COM 492914 10 6 7,938 831,146 SH SOLE 831,146 KEYCORP NEW COM 493267 10 8 41,917 5,408,604 SH SOLE 5,408,604 KEYCORP NEW PFD 7.7 493267 40 5 562 5,900 SH SOLE 5,900 KING PHARMACEUTICA COM 495582 10 8 17,283 1,469,589 SH SOLE 1,469,589 KODIAK OIL & GAS C COM 50015Q 10 0 943 276,665 SH SOLE 276,665 L-1 IDENTITY SOLUT COM 50212A 10 6 3,439 385,174 SH SOLE 385,174 LABORATORY CORP AM COM NEW 50540R 40 9 24,429 322,670 SH SOLE 322,670 LABORATORY CORP AM NOTE 50540R AG 7 595 585,000 PRN SOLE 585,000 LAMAR ADVERTISING CL A 512815 10 1 7,386 215,022 SH SOLE 215,022 LANDSTAR SYS INC COM 515098 10 1 8,210 195,568 SH SOLE 195,568 LAS VEGAS SANDS CO COM 517834 10 7 8,380 396,224 SH SOLE 396,224 LEAR CORP COM NEW 521865 20 4 33,788 425,801 SH SOLE 425,801 LEGG MASON INC COM 524901 10 5 18,114 631,800 SH SOLE 631,800 LEVEL 3 COMMUNICAT COM 52729N 10 0 122 75,540 SH SOLE 75,540 LIBBEY INC COM 529898 10 8 259 21,100 SH SOLE 21,100 LIFE TIME FITNESS COM 53217R 20 7 7,763 276,279 SH SOLE 276,279 LILLY ELI & CO COM 532457 10 8 350 9,650 SH SOLE 9,650 LIN TV CORP CL A 532774 10 6 458 79,720 SH SOLE 79,720 LINCOLN NATL CORP COM 534187 10 9 24,838 809,024 SH SOLE 809,024 LIONS GATE ENTMNT COM NEW 535919 20 3 661 105,869 SH SOLE 105,869 LINN ENERGY LLC UNIT LT 536020 10 0 387 15,055 SH SOLE 15,055 LODGENET INTERACTI COM 540211 10 9 10,263 1,472,393 SH SOLE 1,472,393 LUCENT TECHNOLOGIE DBCV 549463 AH 0 656 750,000 SH SOLE 750,000 MHI HOSPITALITY CO COM 55302L 10 2 68 27,500 SH SOLE 27,500 MAGELLAN HEALTH SV COM NEW 559079 20 7 19,655 452,070 SH SOLE 452,070 MARKWEST ENERGY PA UNIT LT 570759 10 0 260 8,495 SH SOLE 8,495 MARSHALL & ILSLEY COM 571837 10 3 35,659 4,429,770 SH SOLE 4,429,770 MARTEN TRANS LTD COM 573075 10 8 466 23,654 SH SOLE 23,654 MATTEL INC COM 577081 10 2 4,917 216,188 SH SOLE 216,188 MAXIM INTEGRATED P COM 57772K 10 1 4,047 208,717 SH SOLE 208,717 MICROS SYS INC COM 594901 10 0 5,302 161,179 SH SOLE 161,179 MICROSEMI CORP COM 595137 10 0 26,023 1,500,777 SH SOLE 1,500,777 MONSTER WORLDWIDE COM 611742 10 7 5,850 352,174 SH SOLE 352,174 MORGANS HOTEL GROU COM 61748W 10 8 313 48,850 SH SOLE 48,850 NII HLDGS INC CL B NE 62913F 20 1 41,397 993,229 SH SOLE 993,229 NAVISTAR INTL CO 63934E AL 2 1,353 1,200,000 SH SOLE 1,200,000 NETLIST INC COM 64118P 10 9 348 96,615 SH SOLE 96,615 NEWCASTLE INVT COR COM 65105M 10 8 371 114,825 SH SOLE 114,825 NEWPARK RES INC COM PAR 651718 50 4 53 10,000 SH SOLE 10,000 NORTHERN OIL & GAS COM 665531 10 9 622 39,240 SH SOLE 39,240 NTELOS HLDGS CORP COM 67020Q 10 7 21,645 1,216,396 SH SOLE 1,216,396 O CHARLEYS INC COM 670823 10 3 451 50,454 SH SOLE 50,454 OCWEN FINL CORP COM NEW 675746 30 9 249 22,436 SH SOLE 22,436 OLD DOMINION FGHT COM 679580 10 0 24,504 733,875 SH SOLE 733,875 OMEGA PROTEIN CORP COM 68210P 10 7 492 85,612 SH SOLE 85,612 OMNICARE CAP TR 68214Q 20 0 4,540 110,050 SH SOLE 110,050 ON SEMICONDUCTOR C COM 682189 10 5 5,124 640,441 SH SOLE 640,441 OPNEXT INC COM 68375V 10 5 12,856 5,447,368 SH SOLE 5,447,368 OWENS ILL INC COM NEW 690768 40 3 42,576 1,197,941 SH SOLE 1,197,941 PMC-SIERRA INC COM 69344F 10 6 19,482 2,184,117 SH SOLE 2,184,117 PACTIV CORP COM 695257 10 5 18,505 734,910 SH SOLE 734,910 PAETEC HOLDING COR COM 695459 10 7 23,601 5,043,172 SH SOLE 5,043,172 PANTRY INC NOTE 698657 AL 7 581 650,000 PRN SOLE 650,000 PEABODY ENERGY COR SDCV 704549 AG 9 3,235 2,950,000 SH SOLE 2,950,000 PEBBLEBROOK HOTEL COM 70509V 10 0 269 12,796 SH SOLE 12,796 PENN VA CORP COM 707882 10 6 238 9,715 SH SOLE 9,715 PENNSYLVANIA RL ES SH BEN 709102 10 7 432 34,609 SH SOLE 34,609 PETROHAWK ENERGY C COM 716495 10 6 22,278 1,098,508 SH SOLE 1,098,508 PFIZER INC COM 717081 10 3 209 12,185 SH SOLE 12,185 PHARMACEUTICAL PRO COM 717124 10 1 34,223 1,441,583 SH SOLE 1,441,583 PHARMERICA CORP COM 71714F 10 4 208 11,427 SH SOLE 11,427 PHASE FORWARD INC COM 71721R 40 6 15,885 1,213,577 SH SOLE 1,213,577 PHILLIPS VAN HEUSE COM 718592 10 8 8,120 141,569 SH SOLE 141,569 PIER 1 IMPORTS INC COM 720279 10 8 6,521 1,023,794 SH SOLE 1,023,794 PINNACLE ENTMT INC COM 723456 10 9 30,444 3,125,612 SH SOLE 3,125,612 PITNEY BOWES INC COM 724479 10 0 4,062 166,121 SH SOLE 166,121 POWERWAVE TECHNOLO COM 739363 10 9 254 203,320 SH SOLE 203,320 POWERWAVE TECHNOLO SDCV 739363 AF 6 12,922 17,900,000 SH SOLE 17,900,000 PROCERA NETWORKS I COM 74269U 10 4 1,290 3,072,259 SH SOLE 3,072,259 PROLOGIS SH BEN 743410 10 2 20,429 1,547,614 SH SOLE 1,547,614 PROLOGIS NOTE 743410 AY 8 3,019 3,000,000 PRN SOLE 3,000,000 PRUDENTIAL FINL IN COM 744320 10 2 8,296 137,113 SH SOLE 137,113 PZENA INVESTMENT M CLASS A 74731Q 10 3 241 31,604 SH SOLE 31,604 QUIKSILVER INC COM 74838C 10 6 7,954 1,681,733 SH SOLE 1,681,733 RF MICRODEVICES IN COM 749941 10 0 164 33,000 SH SOLE 33,000 RANGE RES CORP COM 75281A 10 9 12,151 259,255 SH SOLE 259,255 REGIONS FINANCIAL COM 7591EP 10 0 34,570 4,403,707 SH SOLE 4,403,707 REX ENERGY CORPORA COM 761565 10 0 5,017 440,588 SH SOLE 440,588 SBA COMMUNICATIONS COM 78388J 10 6 31,694 878,699 SH SOLE 878,699 SBA COMMUNICATIONS NOTE 78388J AN 6 927 870,000 PRN SOLE 870,000 SABA SOFTWARE INC COM NEW 784932 60 0 263 53,156 SH SOLE 53,156 SAIA INC COM 78709Y 10 5 425 30,606 SH SOLE 30,606 SAVVIS INC COM NEW 805423 30 8 19,213 1,164,429 SH SOLE 1,164,429 SEACOAST BKG CORP COM 811707 30 6 656 388,098 SH SOLE 388,098 SHORETEL INC COM 825211 10 5 270 40,825 SH SOLE 40,825 SHUFFLE MASTER INC COM 825549 10 8 361 44,092 SH SOLE 44,092 SINCLAIR BROADCAST CL A 829226 10 9 657 129,397 SH SOLE 129,397 SKILLED HEALTHCARE CL A 83066R 10 7 341 55,286 SH SOLE 55,286 SMITHFIELD FOODS I COM 832248 10 8 21,143 1,019,424 SH SOLE 1,019,424 SMITHFIELD FOODS I NOTE 832248 AR 9 658 570,000 PRN SOLE 570,000 SOLAR CAP LTD 83413U 10 0 494 23,355 SH SOLE 23,355 SONIC AUTOMOTIVE I CL A 83545G 10 2 253 22,984 SH SOLE 22,984 SONIC AUTOMOTIVE I NOTE 83545G AQ 5 3,977 3,500,000 PRN SOLE 3,500,000 STERLING BANCSHARE COM 858907 10 8 1,767 315,454 SH SOLE 315,454 STRATEGIC HOTELS & COM 86272T 10 6 365 85,950 SH SOLE 85,950 SUN HEALTHCARE GRO COM NEW 866933 40 1 433 45,362 SH SOLE 45,362 SUNOPTA INC COM 8676EP 10 8 375 90,430 SH SOLE 90,430 SUNTRUST BKS INC COM 867914 10 3 11,817 441,104 SH SOLE 441,104 SWIFT ENERGY CO COM 870738 10 1 6,377 207,457 SH SOLE 207,457 SYNOVUS FINL CORP COM 87161C 10 5 33,234 10,101,794 SH SOLE 10,101,794 TASTY BAKING CO COM 876553 30 6 516 72,035 SH SOLE 72,035 TELLABS INC COM 879664 10 0 5,150 680,271 SH SOLE 680,271 TERREMARK WORLDWID COM NEW 881448 20 3 8,746 1,247,590 SH SOLE 1,247,590 TERREMARK WORLDWID NOTE 881448 AF 1 1,998 2,050,000 PRN SOLE 2,050,000 TEXAS CAPITAL BANC COM 88224Q 10 7 9,520 501,325 SH SOLE 501,325 TITAN INTL INC ILL COM 88830M 10 2 7,081 811,124 SH SOLE 811,124 TOYOTA MOTOR CORP ADR REP 892331 30 7 265 3,300 SH SOLE 3,300 TRIQUINT SEMICONDU COM 89674K 10 3 6,872 981,657 SH SOLE 981,657 TRIUMPH GROUP INC COM 896818 10 1 325 4,640 SH SOLE 4,640 TRIUMPH GROUP INC NOTE 896818 AB 7 419 310,000 PRN SOLE 310,000 ULTRALIFE CORP COM 903899 10 2 427 106,422 SH SOLE 106,422 ULTRA PETROLEUM CO COM 903914 10 9 22,835 489,703 SH SOLE 489,703 UNITED CMNTY BKS B CAP STK 90984P 10 5 709 160,721 SH SOLE 160,721 UNITED WESTN BANCO COM 913201 10 9 305 200,782 SH SOLE 200,782 V F CORP COM 918204 10 8 15,731 196,259 SH SOLE 196,259 VAIL RESORTS INC COM 91879Q 10 9 9,672 241,237 SH SOLE 241,237 VALUECLICK INC COM 92046N 10 2 14,190 1,400,776 SH SOLE 1,400,776 VARIAN MED SYS INC COM 92220P 10 5 19,708 356,212 SH SOLE 356,212 VERISIGN INC COM 92343E 10 2 20,686 794,992 SH SOLE 794,992 VERISIGN INC SDCV 92343E AD 4 917 1,010,000 SH SOLE 1,010,000 WMS INDS INC COM 929297 10 9 12,444 296,713 SH SOLE 296,713 WALTER ENERGY INC COM 93317Q 10 5 7,226 78,314 SH SOLE 78,314 WARNACO GROUP INC COM NEW 934390 40 2 8,449 177,110 SH SOLE 177,110 WEBSTER FINL CORP COM 947890 10 9 9,857 563,565 SH SOLE 563,565 WELLS FARGO & CO N PFD CNV 949746 80 4 30,249 31,025 SH SOLE 31,025 WESTERN ALLIANCE B COM 957638 10 9 8,611 1,513,316 SH SOLE 1,513,316 WET SEAL INC CL A 961840 10 5 26,129 5,489,365 SH SOLE 5,489,365 WHITING PETE CORP COM 966387 10 2 11,813 146,131 SH SOLE 146,131 WINTRUST FINANCIAL COM 97650W 10 8 10,440 280,575 SH SOLE 280,575 WRIGHT MED GROUP I COM 98235T 10 7 29,673 1,669,869 SH SOLE 1,669,869 WRIGHT MED GROUP I NOTE 98235T AA 5 1,651 1,850,000 PRN SOLE 1,850,000 WYNDHAM WORLDWIDE COM 98310W 10 8 4,564 177,427 SH SOLE 177,427 ZIMMER HLDGS INC COM 98956P 10 2 5,576 94,197 SH SOLE 94,197 ZIONS BANCORPORATI COM 989701 10 7 22,233 1,017,993 SH SOLE 1,017,993 ARGO GROUP INTL HL COM G0464B 10 7 5,757 176,656 SH SOLE 176,656 GLOBAL CROSSING LT SHS NEW G3921A 17 5 7,113 469,541 SH SOLE 469,541 INVESCO LTD SHS G491BT 10 8 5,810 265,173 SH SOLE 265,173 ORIENT-EXPRESS HOT CL A G67743 10 7 3,033 213,927 SH SOLE 213,927 SIGNET JEWELERS LI SHS G81276 10 0 4,068 125,824 SH SOLE 125,824 UTI WORLDWIDE INC ORD G87210 10 3 231 15,080 SH SOLE 15,080 ACE LTD SHS H0023R 10 5 5,171 98,853 SH SOLE 98,853 WEATHERFORD INTERN REG H27013 10 3 4,539 286,197 SH SOLE 286,197 MILLICOM INTL CELL SHS NEW L6388F 11 0 28,437 318,977 SH SOLE 318,977 BLUEPHOENIX SOLUTI SHS M20157 10 9 196 79,875 SH SOLE 79,875 CERAGON NETWORKS L ORD M22013 10 2 4,301 393,791 SH SOLE 393,791 TOTAL 2,336,276 -----END PRIVACY-ENHANCED MESSAGE-----