13F-HR 1 fp0003288_13fhr.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: June 30, 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: T2 Partners Management, L.P. Address: 767 Fifth Avenue, 18th Floor New York, NY 10153 Form 13F File Number: 028-12232 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: Glenn Tongue Title: Managing Partner Phone: 212-386-7161 Signature, Place, and Date of Signing: /s/ Glenn Tongue New York, NY August 9, 2011 ---------------- ------------ -------------- [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).) List of Other Managers Reporting for this Manager: [If there are no entries in this list, omit this section.] Form 13F File Number Name Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 1 ----------- Form 13F Information Table Entry Total: 495 ----------- Form 13F Information Table Value Total: $ 353,268 ----------- (thousands) List of Other Included Managers: Provide a numbered list of the names(s) and Form 13F file numbers(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. [If there are no entries in this list, state "NONE" and omit the column headings and list entries.] No. Form 13F File Number Name 1 028-13305 Centaur Capital Management LP
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ------------------------------ ---------------- --------- ----------- -------------------- ---------- -------- --------------------- VOTING AUTHORITY TITLE OF VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER --------------------- NAME OF ISSUER CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- ----------- ----------- --- ---- ---------- -------- --------- ------ ---- ACTIVISION BLIZZARD INC COM 00507V109 4,906 420,000 SH Other 1 420,000 ALEXANDER & BALDWIN INC COM 014482103 1,729 35,900 SH Sole 35,900 ALLEGHANY CORP DEL COM 017175100 2,454 7,376 SH Other 1 7,376 AMERICAN EXPRESS CO COM 025816109 421 8,144 SH Sole 8,144 ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR 03524A108 6,638 114,440 SH Sole 114,440 ASPEN INSURANCE HOLDINGS LTD SHS G05384105 2,830 110,000 SH Other 1 110,000 ASPEN INSURANCE HOLDINGS LTD SHS G05384105 386 15,000 SH Sole 15,000 ATLAS ENERGY LP COM UNITSLP 04930A104 40 1,827 SH Sole 1,827 AUTOMATIC DATA PROCESSING IN COM 053015103 802 15,218 SH Sole 15,218 AUTOMATIC DATA PROCESSING IN COM 053015103 1,475 28,000 SH CALL Sole 28,000 BENEFICIAL MUTUAL BANCORP IN COM 08173R104 408 49,630 SH Sole 49,630 BERKSHIRE HATHAWAY INC DEL CL A 084670108 1,509 13 SH Sole 13 BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 11,936 154,238 SH Sole 154,238 BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 5,649 73,000 SH CALL Sole 73,000 BIGLARI HLDGS INC COM 08986R101 1,377 3,522 SH Other 1 3,522 BLACKROCK KELSO CAPITAL CORP COM 092533108 253 28,216 SH Sole 28,216 BLUE COAT SYSTEMS INC COM NEW 09534T508 3,279 150,000 SH Other 1 150,000 BP PLC SPONSORED ADR 055622104 7,143 161,281 SH Sole 161,281 CALAMOS ASSET MGMT INC CL A 12811R104 3,340 230,000 SH Other 1 230,000 CAPITAL SOUTHWEST CORP COM 140501107 1,359 14,730 SH Other 1 14,730 CHIMERA INVT CORP COM 16934Q109 1,038 300,000 SH Other 1 300,000 CISCO SYS INC COM 17275R102 3,903 250,000 SH Other 1 250,000 CIT GROUP INC COM NEW 125581801 8,925 201,663 SH Sole 201,663 CITIGROUP INC COM 172967101 3,326 79,882 SH Sole 79,882 COINSTAR INC COM 19259P300 2,591 47,500 SH Other 1 47,500 CURRENCYSHS JAPANESE YEN TR JAPANESE YEN 23130A102 931 7,600 SH PUT Other 1 7,600 DAILY JOURNAL CORP COM 233912104 265 3,683 SH Sole 3,683 DELIA'S INC NEW COM 246911101 4,851 3,089,733 SH Sole 3,089,733 DELL INC COM 24702R101 6,668 400,000 SH Other 1 400,000 DELL INC COM 24702R101 205 12,300 SH Sole 12,300 DIAMOND OFFSHORE DRILLING IN COM 25271C102 2,464 35,000 SH Other 1 35,000 E M C CORP MASS COM 268648102 2,342 85,000 SH Other 1 85,000 E M C CORP MASS COM 268648102 21 768 SH Sole 768 ECHOSTAR CORP CL A 278768106 254 6,992 SH Sole 6,992 FIRST LONG IS CORP COM 320734106 557 20,000 SH Sole 20,000 GAMESTOP CORP NEW CL A 36467W109 2,265 85,000 SH Other 1 85,000 GENERAL ELECTRIC CO COM 369604103 289 15,322 SH Sole 15,322 GENERAL GROWTH PPTYS INC NEW COM 370023103 7,470 447,554 SH Sole 447,554 HIMAX TECHNOLOGIES INC SPONSORED ADR 43289P106 1,507 685,000 SH Other 1 685,000 HOT TOPIC INC COM 441339108 231 31,090 SH Sole 31,090 HOWARD HUGHES CORP COM 44267D107 11,471 176,347 SH Sole 176,347 HUNTSMAN CORP COM 447011107 278 14,781 SH Sole 14,781 IDT CORP CL B NEW 448947507 3,187 118,000 SH Other 1 118,000 IMATION CORP COM 45245A107 1,721 182,269 SH Sole 182,269 INTEL CORP COM 458140100 98 4,410 SH Sole 4,410 INTEL CORP COM 458140100 4,920 222,000 SH CALL Sole 222,000 INTERACTIVE BROKERS GROUP IN COM 45841N107 3,208 204,990 SH Other 1 204,990 INTERDIGITAL INC COM 45867G101 2,055 50,300 SH Other 1 50,300 IRIDIUM COMMUNICATIONS INC COM 46269C102 7,159 827,658 SH Sole 827,658 IRIDIUM COMMUNICATIONS INC *W EXP 02/14/201 46269C110 17,319 6,034,307 SH Sole 6,034,307 ISHARES TR BARCLYS 20+ YR 464287432 2,823 30,000 SH PUT Other 1 30,000 ISHARES TR FTSE CHINA ETF 464288190 1,289 30,000 SH PUT Other 1 30,000 JOHNSON & JOHNSON COM 478160104 74 1,110 SH Sole 1,110 JOHNSON & JOHNSON COM 478160104 7,370 110,800 SH CALL Sole 110,800 JPMORGAN CHASE & CO *W EXP 10/28/201 46634E114 1,828 135,700 SH Sole 135,700 KRAFT FOODS INC CL A 50075N104 550 15,600 SH Sole 15,600 KRAFT FOODS INC CL A 50075N104 13,630 386,900 SH CALL Sole 386,900 LENNAR CORP CL B 526057302 375 25,556 SH Sole 25,556 MICROSOFT CORP COM 594918104 11,532 443,558 SH Sole 443,558 MICROSOFT CORP COM 594918104 34,676 1,333,700 SH CALL Sole 1,333,700 MVC CAPITAL INC COM 553829102 1,481 111,800 SH Other 1 111,800 MVC CAPITAL INC COM 553829102 54 4,100 SH Sole 4,100 NELNET INC CL A 64031N108 6,089 276,062 SH Sole 276,062 PENNEY J C INC COM 708160106 3 100 SH Sole 100 PENNEY J C INC COM 708160106 31,221 903,900 SH CALL Sole 903,900 PEP BOYS MANNY MOE & JACK COM 713278109 4,857 444,269 SH Sole 444,269 PREMIER EXIBITIONS INC COM 74051E102 675 387,819 SH Sole 387,819 PROMOTORA DE INFORMACIONES S ADR CL B CONV 74343G303 12,321 1,232,103 SH Sole 1,232,103 REPUBLIC AWYS HLDGS INC COM 760276105 1,143 209,193 SH Sole 209,193 REPUBLIC AWYS HLDGS INC COM 760276105 398 72,900 SH CALL Sole 72,900 RESOURCE AMERICA INC CL A 761195205 6,367 1,084,622 SH Sole 1,084,622 RICHARDSON ELECTRS LTD COM 763165107 1,397 102,800 SH Other 1 102,800 SEAGATE TECHNOLOGY PLC SHS G7945M107 13,629 843,348 SH Sole 843,348 SLM CORP COM 78442P106 312 18,557 SH Sole 18,557 SPARK NETWORKS INC COM 84651P100 1,234 371,663 SH Sole 371,663 SPDR S&P 500 ETF TR TR UNIT 78462F103 3,299 25,000 SH PUT Other 1 25,000 SPDR S&P 500 ETF TR TR UNIT 78462F103 145 1,100 SH Sole 1,100 SPDR SERIES TRUST S&P RETAIL ETF 78464A714 1,068 20,000 SH PUT Other 1 20,000 SPROTT RESOURCE LENDING CORP COM 85207J100 1,138 650,000 SH Other 1 650,000 ST JOE CO COM 790148100 0 3 SH Sole 3 ST JOE CO COM 790148100 1,136 54,500 SH PUT Sole 54,500 SUMMER INFANT INC COM 865646103 795 97,900 SH Sole 97,900 TARGET CORP COM 87612E106 2,580 55,000 SH Other 1 55,000 TARGET CORP COM 87612E106 44 933 SH Sole 933 TELULAR CORP COM NEW 87970T208 2,321 376,147 SH Other 1 376,147 TERRA NOVA RTY CORP COM 88102D103 2,341 308,600 SH Other 1 308,600 TRANSATLANTIC PETROLEUM LTD SHS G89982105 1,105 650,000 SH Other 1 650,000 TUCOWS INC COM 898697107 99 123,650 SH Sole 123,650 TWO HBRS INVT CORP COM 90187B101 5,643 524,866 SH Sole 524,866 TWO HBRS INVT CORP *W EXP 07/13/201 90187B119 905 2,156,255 SH Sole 2,156,255 U S GLOBAL INVS INC CL A 902952100 382 53,000 SH Other 1 53,000 UNIVERSAL STAINLESS & ALLOY COM 913837100 276 5,900 SH Sole 5,900 WELLS FARGO & CO NEW *W EXP 10/28/201 949746119 1,074 115,450 SH Sole 115,450 WESTELL TECHNOLOGIES INC CL A 957541105 1,285 360,000 SH Other 1 360,000 WESTERN DIGITAL CORP COM 958102105 4,545 125,000 SH Other 1 125,000 WET SEAL INC CL A 961840105 400 89,536 SH Sole 89,536 WEYCO GROUP INC COM 962149100 1,525 61,997 SH Sole 61,997 WINN DIXIE STORES INC COM NEW 974280307 2,631 311,457 SH Sole 311,457 WINTHROP RLTY TR SH BEN INT NEW 976391300 183 15,358 SH Sole 15,358 XEROX CORP COM 984121103 3,383 325,000 SH Other 1 325,000 YAHOO INC COM 984332106 187 12,426 SH Sole 12,426