-----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, Qx2GBxmuZ/gk3TXkpJSbUFwqF+5PwC6mpjKl4jzTGy4RGQiKi+dbp3IO2dRDhOFm doT4bOcbhcEGukMNZOIsRQ== 0001371446-10-000009.txt : 20100216 0001371446-10-000009.hdr.sgml : 20100215 20100216134820 ACCESSION NUMBER: 0001371446-10-000009 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20091231 FILED AS OF DATE: 20100216 DATE AS OF CHANGE: 20100216 EFFECTIVENESS DATE: 20100216 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FBR CAPITAL MARKETS CORP CENTRAL INDEX KEY: 0001371446 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211] IRS NUMBER: 000000000 STATE OF INCORPORATION: VA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-13581 FILM NUMBER: 10605971 BUSINESS ADDRESS: STREET 1: 1001 NINETEETH ST NORTH CITY: ARLINGTON STATE: VA ZIP: 22209 BUSINESS PHONE: 703-312-9500 MAIL ADDRESS: STREET 1: 1001 NINETEETH ST NORTH CITY: ARLINGTON STATE: VA ZIP: 22209 13F-HR 1 fbcm4q200913f.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F HR Form 13F Cover Page Report for the Calendar Year or Quarter Ended: December 31, 2009 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: FBR Capital Markets Corporation Address: 1001 19th Street North Arlington, VA 22209 13F File Number: 28- 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 the 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: Robert J. Kiernan Title: Sr. Vice President, Controller and Chief Accounting Officer Phone: 703-469-1120 Signature, Place, and Date of Signing: /s/ Robert J. Kiernan Robert J. Kiernan Arlington, VA February 16, 2010 Report Type (Check only one.): ( X ) 13F HOLDINGS REPORT ( ) 13F NOTICE. ( ) 13F COMBINATION REPORT List of Other Managers Reporting for this Manager: 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: 1 Form 13F Information Table Entry Total: 297 Form 13F Information Table Value Total: $ 1,267,341,560 List of Other Included Managers: No: Name 1) FBR Fund Advisers, Inc. COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 - -------------------------- -------------- --------- --------- -------------- TITLE VALUE SHARES/ SH/PUT/ NAME OF ISSUER OF CLASS CUSIP (x$1000) PRN AMT PRNCALL - ------------------------------------------------------------------------------- ***BHP BILLITON LTD ADR 088606108 459,480 6000 sh ***CARNIVAL CORP-CL A CL A 143658300 207,570 6550 sh ***RESEARCH IN MOTION LTD COM 760975102 530,189 7850 sh 1ST SOURCE CORP COM 336901103 1,255,165 78009 sh 3M COMPANY COM 88579Y101 1,307,013 15810 sh 99 CENTS ONLY STORES COM 65440K106 74,381,030 5690974 sh ACE LTD SHS H0023R105 604,800 12000 sh ACTIVISION BLIZZARD INC COM 00507V109 136,575 12293 sh ADOBE SYSTEMS INC COM 00724F101 268,494 7300 sh AFFILIATED MANAGERS GROUP INC CL A 008252108 234,041 3475 sh AGL RESOURCES INC COM 001204106 4,714,915 129282 sh ALLIANT ENERGY CORP COM 018802108 772,477 25528 sh ALLSTATE CORP COM 020002101 1,592,120 53000 sh AMAZON.COM INC COM 023135106 376,656 2800 sh AMEREN CORPORATION COM 023608102 883,220 31600 sh AMERICAN EAGLE OUTFITTERS COM 02553E106 491,554 28949 sh AMERICAN EXPRESS CO COM 025816109 1,539,760 38000 sh AMERICAN MEDICAL SYS HLDGS COM 02744M108 196,758 10200 sh AMERICAN TOWER CORP-CL A CL A 029912201 117,704,040 2724000 sh AMERICAN WOODMARK CORP COM 030506109 14,369,549 730160 sh AMERICREDIT CORP COM 03060R101 40,083,236 2105212 sh AMERICREDIT ACF.N 0.75% 09/11 NOTE 03060RAP6 411,069 445000 prn AMERIGROUP CORP AGP.N COM 03073T102 419,498 15560 sh ANWORTH MORTGAGE ASSET CORP COM 037347101 420,000 60000 sh APACHE CORP COM 037411105 645,019 6252 sh APPLE COMPUTER INC COM 037833100 844,614 4008 sh ASSOCIATED BANC-CORP COM 045487105 1,981,800 180000 sh ASSURANT INC COM 04621X108 1,010,515 34278 sh ASSURED GUARANTY LTD COM G0585R106 4,243,200 195000 sh ASTORIA FINANCIAL CORP COM 046265104 7,272,793 585100 sh ATMOS ENERGY CORP COM 049560105 5,587,470 190050 sh AUTOMATIC DATA PROCESSING COM 053015103 321,150 7500 sh AVISTA CORP COM 05379B107 498,297 23080 sh BALLY TECHNOLOGIES INC COM COM 05874B107 66,064,000 1600000 sh BANCORP RHODE ISLAND INC COM 059690107 1,882,216 73295 sh BANK MUTUAL CORP COM 063750103 1,316,700 190000 sh BANK OF AMERICA CORP COM 060505104 1,826,778 121300 sh BARD (C.R.) INC COM 067383109 246,631 3166 sh BAXTER INTERNATIONAL INC COM 071813109 280,197 4775 sh BB&T CORP COM 054937107 253,700 10000 sh BECTON DICKINSON & CO COM 075887109 262,210 3325 sh BERKSHIRE HATHAWAY INC-CL B CL B 084670207 262,880 80 sh BIOGEN IDEC INC COM 09062X103 415,963 7775 sh BIOMARIN BMRN.O 1.875% 04/17 NOTE 09061GAD3 2,137,500 2000000 prn BLACK HILLS CORP COM 092113109 495,984 18625 sh BROOKLINE BANCORP INC COM 11373M107 2,527,050 255000 sh CAPE BANCORP INC COM 139209100 1,064,589 158421 sh CAPITAL ONE FINANCIAL CORP COM 14040H105 1,686,960 44000 sh CAPITOL FEDERAL FINANCIAL COM 14057C106 3,310,850 105240 sh CAPITALSOURCE CSE.N 7.25% 07/37 NOTE 14055XAG7 384,285 425800 prn CARMAX INC COM 143130102 75,831,884 3127088 sh CATHAY GENERAL BANCORP COM 149150104 590,410 78200 sh CB RICHARD ELLIS GROUP INC CL A 12497T101 542,800 40000 sh CENTERPOINT ENERGY INC COM 15189T107 4,910,184 338400 sh CENTURY ALUMINUM COMPANY COM 156431108 184,566 11400 sh CH ENERGY GROUP INC COM 12541M102 321,026 7550 sh CHECK POINT SOFTWARE TECH ORD M22465104 209,311 6178 sh CHENIERE ENERGY INC COM NEW COM 16411R208 278,603 115125 sh CHESAPEAKE UTILITIES CORP COM 165303108 449,181 14015 sh CHIMERA INVESTMENT CORP COM 16934Q109 349,200 90000 sh CHOICE HOTELS INTL INC COM 169905106 3,780,521 119410 sh CHUBB CORP COM 171232101 737,700 15000 sh CISCO SYSTEMS INC COM 17275R102 830,359 34685 sh CITIGROUP INC COM 172967101 248,250 75000 sh CITY NATIONAL CORP COM 178566105 4,028,760 88350 sh CMS ENERGY CORP COM 125896100 2,434,629 155468 sh COGNIZANT TECHNOLOGY SOLUTIONS CL A 192446102 231,636 5110 sh COMERICA INC COM 200340107 4,681,670 158325 sh COMMERCE BANCSHARES INC COM 200525103 1,091,130 28180 sh CONOCOPHILLIPS COM 20825C104 367,704 7200 sh CONSECO INC COM 208464883 55,000 11000 sh CONSOLIDATED EDISON INC COM 209115104 4,545,044 100045 sh CONSTELLATION ENERGY GROUP COM 210371100 928,312 26395 sh Corning Inc COM 219350105 286,657 14845 sh CVB FINANCIAL CORP COM 126600105 950,400 110000 sh DANVERS BANCORP INC COM 236442109 909,300 70000 sh DELTA NATURAL GAS CO INC COM 247748106 205,663 7258 sh Diamondrock Hospitality Co COM 252784301 118,580 14000 sh DIME COMMUNITY BANCSHARES COM 253922108 4,750,650 405000 sh DISCOVER FINANCIAL SERVICES COM 254709108 1,103,250 75000 sh DOMINION RESOURCES INC/VA COM 25746U109 10,438,344 268200 sh DTE ENERGY COMPANY COM 233331107 2,514,707 57690 sh Duke Energy COM 26441C105 1,540,502 89512 sh DYNAMEX INC COM 26784F103 14,694,014 811824 sh EAGLE BANCORP INC MD COM 268948106 780,015 74500 sh EAST WEST BANCORP INC COM 27579R104 5,135,000 325000 sh EDISON INTERNATIONAL COM 281020107 208,680 6000 sh EL PASO CORP COM 28336L109 9,827,543 999750 sh ELI LILLY & CO COM 532457108 237,472 6650 sh EMULEX CORP COM NEW COM 292475209 183,120 16800 sh ENBRIDGE INC COM 29250N105 10,964,124 237216 sh ENCORE CAPITAL GROUP COM 292554102 13,518,286 776913 sh ENRGY CONVRSN ENER.O 3.0% 06/13 NOTE 292659AA7 2,194,106 3435000 prn ENERGEN CORP COM 29265N108 2,357,784 50380 sh ENERSYS ENS.N 3.375% 06/38 NOTE 29275YAA0 303,984 343000 prn ENSTAR GROUP LIMITED SHS G3075P101 16,425,411 224944 sh ENTERGY CORP COM 29364G103 272,118 3325 sh ENTERTAINMENT PROP EPR_pc.N PFD 29380T402 689,274 41648 sh EQT CORP COM 26884L109 2,277,691 51860 sh ERICSSON L M TEL CO COM 294821608 128,660 14000 sh EXELON CORP COM 30161N101 3,417,235 69925 sh FACTSET RESEARCH SYSTEMS INC COM 303075105 233,641 3547 sh FASTENAL CO COM 311900104 222,774 5350 sh FIFTH THIRD BANCORP COM 316773100 3,266,250 335000 sh FIRST HORIZON NATIONAL CORP COM 320517105 4,491,211 335165 sh FIRST NIAGARA FINANCIAL GRP COM 33582V108 3,807,167 273700 sh FIRSTMERIT CORP COM 337915102 3,503,836 173974 sh Flagstone Reinsurance Hldg/fsr SHS G3529T105 2,361,596 215868 sh FLUSHING FINANCIAL CORP COM 343873105 4,284,869 380539 sh FOREST LABORATORIES INC COM 345838106 327,297 10193 sh FRANKLIN RESOURCES INC COM 354613101 371,359 3525 sh FREEPORT-MCMORAN COPPER COM 35671D857 220,798 2750 sh FULTON FINANCIAL CORP-PA COM 360271100 5,542,432 635600 sh GAP INC COM 364760108 321,059 15325 sh GENERAL ELECTRIC CO COM 369604103 419,101 27700 sh GENESEE & WYOMING INC-CL A CL A 371559105 270,096 8275 sh GENWORTH FINL INC COM CL A CL A 37247D106 794,500 70000 sh GLACIER BANCORP INC COM 37637Q105 548,800 40000 sh GLOBAL PAYMENTS INC COM 37940X102 281,419 5225 sh GOLDMAN SACHS GROUP INC COM 38141G104 1,962,765 11625 sh GOOGLE INC CL A 38259P508 796,674 1285 sh HANSEN NATURAL CORP COM 411310105 389,760 10150 sh HARTFORD FINL SVCS GROUP INC COM 416515104 465,200 20000 sh Health Grades Inc/hgrd COM 42218Q102 48,906 11400 sh HELMERICH & PAYNE INC COM 423452101 232,899 5840 sh HENRY JACK & ASSOCIATES INC COM 426281101 291,032 12577 sh HINGHAM INSTITUTION FOR SVGS COM 433323102 2,895,018 94331 sh HUDSON CITY BANCORP INC COM 443683107 5,099,665 371425 sh HUNTINGTON BANCSHARES INC COM 446150104 1,971,000 540000 sh IBERIABANK CORP COM 450828108 5,703,860 106000 sh INDEPENDENT BANK CORP/MA COM 453836108 5,451,657 261345 sh Integrys Energy Group COM 45822P105 2,379,615 56671 sh INTEL CORP COM 458140100 561,000 27500 sh INTERCONTINENTALEXCHANGE INC COM 45865V100 213,370 1900 sh INTERNATIONAL PAPER CO COM 460146103 1,097,980 41000 sh INTL BUSINESS MACHINES CORP COM 459200101 418,880 3200 sh INVESTORS BANCORP INC COM 46146P102 1,422,200 130000 sh ITT EDUCATIONAL SERVICES INC COM 45068B109 301,794 3145 sh JOHNSON & JOHNSON COM 478160104 650,541 10100 sh JPMORGAN CHASE & CO COM 46625H100 2,117,878 50825 sh KB HOME COM 48666K109 14,619,050 1068644 sh PUT KB HOME JAN 016 **** PUT 2,162,000 9200 put KBW INC COM 482423100 547,200 20000 sh KEYCORP COM 493267108 4,635,083 835150 sh KHD HUMBOLDT WEDAG INTERTNL LTD COM 482462108 136,100 10000 sh KKR FINANCIAL GROUP COM 48248A306 3,575,120 616400 sh LACLEDE GROUP INC/THE COM 505597104 1,390,480 41175 sh LAMAR ADVERTISING CO-CL A CL A 512815101 57,019,060 1834000 sh LENNAR CORPORATION N/C TO LENNARCL A 526057104 1,154,408 90400 sh LINCARE HOLDINGS INC COM 532791100 217,982 5870 sh LINCOLN NATL CORP IND COM COM 534187109 373,200 15000 sh LOWE S COS INC COM 548661107 385,935 16500 sh M & T BANK CORP COM 55261F104 585,020 8746 sh MARKEL CORP COM 570535104 69,836,000 205400 sh MARSHALL & ILSLEY CORP COM 571837103 408,750 75000 sh MASSEY ENERGY CO COM 576206106 285,668 6800 sh MASTEC INC MTZ.N 4.0% 06/14 NOTE 576323AG4 405,213 385000 prn MASTERCARD INC COM 57636Q104 1,535,880 6000 sh MB FINANCIAL INC COM 55264U108 3,350,700 170000 sh MBIA Inc/mbi COM 55262C100 756,200 190000 sh CALL MCDRMTT INTL FEB 023 **** CALL 240,435 1233 call MCG CAPITAL CORP COM 58047P107 1,080,000 250000 sh MDU RESOURCES GROUP INC COM 552690109 2,295,100 97250 sh MAXTOR CORP STX.O 2.375% 08/12rNOTE 577729AE6 2,859,140 2423000 prn MEDICS PHARMACTICAL CL A MRX.N COM 584690309 305,655 11300 sh MEDNAX INC COM 58502B106 219,402 3650 sh MEDTRONIC INC COM 585055106 377,348 8580 sh Merck & Co/mrk COM 58933Y105 365,400 10000 sh MEREDITH CORP COM 589433101 336,265 10900 sh METLIFE INC COM 59156R108 1,095,850 31000 sh MFA MORTGAGE INVESTMENTS INC COM 55272X102 441,000 60000 sh MGE ENERGY INC COM 55277P104 303,719 8498 sh MGIC INVESTMENT CORP-WISC COM 552848103 645,626 111700 sh MICROS SYSTEMS INC COM 594901100 245,602 7915 sh MICROSOFT CORP COM 594918104 913,943 29985 sh MicroStrategy, Inc/mstr COM 594972408 285,351 3035 sh MONARCH CASINO & RESORT INC COM 609027107 2,359,311 291273 sh MORGAN STANLEY COM 617446448 1,260,960 42600 sh MORNINGSTAR INC COM COM 617700109 313,243 6480 sh NARA BANCORP INC COM 63080P105 5,443,200 480000 sh NATIONAL FUEL GAS CO COM 636180101 5,345,000 106900 sh NATIONAL GRID PLC SPON ADR NEW ADR 636274300 10,935,057 201086 sh NATIONAL PENN BANCSHARES INC COM 637138108 2,460,750 425000 sh NEW JERSEY RESOURCES CORP COM 646025106 2,056,252 54980 sh NEW YORK COMMUNITY BANCORP COM 649445103 1,047,404 72185 sh NEWALLIANCE BANCSHARES INC COM 650203102 780,650 65000 sh NEWMONT MINING CORP NEM.N COM 651639106 553,527 11700 sh NICOR INC COM 654086107 3,900,565 92650 sh NISOURCE INC COM 65473P105 5,380,693 349850 sh Noble Corp/ne COM H5833N103 211,640 5200 sh NORFOLK SOUTHERN CORP COM 655844108 262,100 5000 sh NORTHEAST UTILITIES COM 664397106 766,608 29725 sh NORTHWEST BANCSHARES INC MD COM 667340103 3,409,175 302500 sh NORTHWEST NATURAL GAS CO COM 667655104 2,639,344 58600 sh Novo Nordish ADR 670100205 205,597 3220 sh NV ENERGY INC COM 67073Y106 177,901 14370 sh O REILLY AUTOMOTIVE INC COM 686091109 61,833,537 1622076 sh OCEANFIRST FINANCIAL CORP COM 675234108 3,569,243 316142 sh OLD NATL BANCORP/IN COM 680033107 745,800 60000 sh ONEOK INC COM 682680103 7,452,104 167200 sh ORACLE CORP COM 68389X105 913,743 37250 sh P G & E CORP COM 69331C108 9,574,076 214425 sh PARKVALE FINANCIAL CORP COM 701492100 1,166,022 167773 sh PARTNERRE LTD COM G6852T105 597,280 8000 sh PATTERSON COMPANIES INC COM 703395103 263,851 9430 sh PAYCHEX INC COM 704326107 247,418 8075 sh PENN NATIONAL GAMING INC COM 707569109 78,449,132 2885220 sh PEOPLES UTD FINL INC COM 712704105 401,635 24050 sh PEPCO HOLDINGS INC COM 713291102 248,133 14726 sh PETROCHINA CO LTD -ADR ADR 71646E100 217,697 1830 sh PIEDMONT NATURAL GAS CO COM 720186105 4,086,063 152750 sh PINNACLE ENTERTAINMENT INC COM 723456109 8,052,635 896730 sh PMI GROUP INC/THE COM 69344M101 1,159,200 460000 sh PNC FINANCIAL SERVICES GROUP COM 693475105 897,430 17000 sh POLYCOM INC COM COM 73172K104 235,342 9425 sh Pool Corp/pool COM 73278L105 36,929,340 1935500 sh PORTFOLIO RECOVERY ASSOCIATE COM 73640Q105 1,497,676 33393 sh PRINCIPAL FINANCIAL GROUP INC COM 74251V102 961,600 40000 sh PROVIDENT FINANCIAL SERVICES COM 74386T105 5,425,110 509400 sh PRUDENTIAL FINANCIAL INC COM 744320102 1,199,216 24100 sh PUBLIC SERVICE ENTERPRISE GP COM 744573106 7,728,131 232425 sh PULTE HOMES INC COM 745867101 1,800,000 180000 sh QLOGIC CORP COM 747277101 333,527 17675 sh QUESTAR CORP COM 748356102 5,019,287 120743 sh RADIAN GROUP INC COM 750236101 219,300 30000 sh RALCORP HOLDINGS, INC. COM 751028101 298,550 5000 sh REDWOOD TRUST INC COM 758075402 1,446,000 100000 sh ROLLINS INC COM COM 775711104 213,430 11070 sh ROWAN COMPANIES INC COM 779382100 216,212 9550 sh RYLAND GROUP INC COM COM 783764103 1,314,364 66719 sh SAP AG-SPONSORED ADR ADR 803054204 809,111 17285 sh SCHWAB (CHARLES) CORP COM 808513105 3,485,464 185200 sh SEACOAST BANKING CORPORATION COM 811707306 325,201 199510 sh SEI INVESTMENTS CO COM 784117103 274,363 15660 sh SEMPRA ENERGY COM COM 816851109 10,827,932 193425 sh SIMPSON MANUFACTURING CO INC COM 829073105 21,635,694 804600 sh SKYWORKS SOLUTIONS INC COM 83088M102 184,825 13025 sh Solera Holdings Inc/slh COM 83421A104 315,088 8750 sh SOUTH JERSEY INDUSTRIES COM 838518108 1,862,611 48785 sh SOUTHERN UNION CO COM 844030106 4,797,827 211358 sh SOUTHWEST GAS CORP COM 844895102 2,680,736 93962 sh CALL SOUTHWESTERN MAR 043 **** CALL 692,250 975 call SPECTRA ENERGY CORP COM COM 847560109 10,809,139 527018 sh STATE BANCORP INC COM 855716106 3,218,512 452674 sh STATE BK & TR CO PINEHURST GA COM 855898102 490,000 35000 sh STRYKER CORP COM 863667101 271,998 5400 sh SUNTRUST BANKS INC COM 867914103 243,480 12000 sh SUSQUEHANNA BANCSHARES INC COM 869099101 2,189,902 371800 sh SVB FINANCIAL GROUP COM 78486Q101 449,928 10800 sh SYBASE INC COM 871130100 352,408 8120 sh SYNOVUS FINANCIAL CORP COM 87161C105 461,250 225000 sh T ROWE PRICE GROUP INC COM 74144T108 7,548,773 141761 sh TAKE-TWO TTWO.O 4.375% 06/14 NOTE 874054AA7 411,250 350000 prn TARGET CORP COM COM 87612E106 464,352 9600 sh TCF FINANCIAL CORP COM 872275102 1,974,900 145000 sh TECHNE CORP COM 878377100 418,696 6107 sh TECO ENERGY INC COM 872375100 994,935 61340 sh TERRITORIAL BANCORP INC COM 88145X108 3,723,318 206278 sh TEVA PHARMACEUTICAL-SP ADR ADR 881624209 233,147 4150 sh THORNBURG MORTGAGE INC NEW COM 885218800 1,360 151149 sh TIBCO SOFTWARE INC COM 88632Q103 143,487 14900 sh TJX COMPANIES INC NEW COM 872540109 211,990 5800 sh TRANSCANADA CORP COM 89353D107 10,953,719 318700 sh Travelers Cos Inc COM 89417E109 1,396,080 28000 sh TRICO MARINE TRMA.O 8.125% 02/13NOTE 896106AW1 1,390,125 1650000 prn TRICO MARINE TRMA.O 3% 01/27 NOTE 896106AQ4 713,633 1182000 prn TRUSTMARK CORP COM 898402102 1,239,700 55000 sh UAL CORP UAUA.O 5.0% 02/21 DBCV 902549AE4 2,275,000 2500000 prn UAL CORP UAUA.O COM 902549807 511,236 39600 sh UGI CORP COM 902681105 1,748,937 72300 sh UNILEVER PLC - ADR ADR 904767704 440,220 13800 sh UNION PACIFIC CORP COM 907818108 258,795 4050 sh UNISOURCE ENERGY CORP COM 909205106 254,462 7905 sh UNITED FINANCIAL BANCORP INC COM 91030T109 377,162 28769 sh US BANCORP COM 902973304 900,400 40000 sh VECTREN CORPORATION COM 92240G101 1,834,464 74330 sh VISA INC-CLASS A SHARES CL A 92826C839 1,914,499 21890 sh WADDELL & REED FINANCIAL INC CL CL A 930059100 278,678 9125 sh WAL-MART STORES INC COM 931142103 408,893 7650 sh WASHINGTON FEDERAL INC COM 938824109 5,090,288 263200 sh WASHNGTON REIT WRE.N 3.875% 9/26NOTE 939653AK7 277,340 283000 prn WEBSTER FINANCIAL CORP COM 947890109 4,269,639 359700 sh WELLS FARGO & COMPANY COM 949746101 782,710 29000 sh WESTERN ALLIANCE BANCORP COM 957638109 1,407,638 372391 sh PUT WESTERN ALLI JUN 005 CBOE PUT 577,500 3850 put WESTFIELD FINANCIAL INC COM 96008P104 215,325 26100 sh WGL HOLDINGS INC COM 92924F106 3,362,385 100250 sh WHITE RIVER CAPITAL INC COM 96445P105 1,946,060 173137 sh WHITING PETROLEUM CORPORATION COM 966387102 321,525 4500 sh WILLIAMS COS INC COM 969457100 7,530,830 357250 sh WISCONSIN ENERGY CORP COM 976657106 1,409,192 28280 sh WSFS FINANCIAL CORP COM 929328102 3,077,087 120058 sh XCEL ENERGY INC COM 98389B100 2,242,381 105673 sh XL CAPITAL LTD -CLASS A CL A G98255105 4,967,980 271030 sh XTO ENERGY INC COM 98385X106 269,874 5800 sh YAHOO! INC COM 984332106 216,126 12880 sh ZIONS BANCORPORATION COM 989701107 384,900 30000 sh COLUMN 1 COLUMN 6 COLUMN 7 COLUMN 8 - -------------------------- -------------- --------- --------- ------------ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER DSCRETN MNGRS [SOLE] [SHARED] [NONE] - ----------------------------------------------------------------------------- ***BHP BILLITON LTD defined 1 6000 0 0 ***CARNIVAL CORP-CL A defined 1 6550 0 0 ***RESEARCH IN MOTION LTD defined 1 7850 0 0 1ST SOURCE CORP defined 1 78009 0 0 3M COMPANY defined 1 15810 0 0 99 CENTS ONLY STORES defined 1 5690974 0 0 ACE LTD defined 1 12000 0 0 ACTIVISION BLIZZARD INC defined 1 12293 0 0 ADOBE SYSTEMS INC defined 1 7300 0 0 AFFILIATED MANAGERS GROUP INC defined 1 3475 0 0 AGL RESOURCES INC defined 1 129282 0 0 ALLIANT ENERGY CORP defined 1 25528 0 0 ALLSTATE CORP defined 1 53000 0 0 AMAZON.COM INC defined 1 2800 0 0 AMEREN CORPORATION defined 1 31600 0 0 AMERICAN EAGLE OUTFITTERS defined 1 28949 0 0 AMERICAN EXPRESS CO defined 1 38000 0 0 AMERICAN MEDICAL SYS HLDGS defined 1 10200 0 0 AMERICAN TOWER CORP-CL A defined 1 2724000 0 0 AMERICAN WOODMARK CORP defined 1 730160 0 0 AMERICREDIT CORP defined 1 2105212 0 0 AMERICREDIT ACF.N 0.75% 09/11 defined 0 0 0 445000 AMERIGROUP CORP AGP.N defined 0 15560 0 0 ANWORTH MORTGAGE ASSET CORP defined 1 60000 0 0 APACHE CORP defined 1 6252 0 0 APPLE COMPUTER INC defined 1 4008 0 0 ASSOCIATED BANC-CORP defined 1 180000 0 0 ASSURANT INC defined 1 34278 0 0 ASSURED GUARANTY LTD defined 1 195000 0 0 ASTORIA FINANCIAL CORP defined 1 585100 0 0 ATMOS ENERGY CORP defined 1 190050 0 0 AUTOMATIC DATA PROCESSING defined 1 7500 0 0 AVISTA CORP defined 1 23080 0 0 BALLY TECHNOLOGIES INC COM defined 1 1600000 0 0 BANCORP RHODE ISLAND INC defined 1 73295 0 0 BANK MUTUAL CORP defined 1 190000 0 0 BANK OF AMERICA CORP defined 1 121300 0 0 BARD (C.R.) 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