13F-HR 1 mktc_ycap1q2013.txt Y/CAP MANAGEMENT LLC UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: March 31, 2013 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: Y/CAP Management LLC Address: 1370 Avenue of the Americas,29th Floor New York, NY 10019 13F File Number: 028-15419 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 Haydon Title: Managing Member Phone: 212-938-1462 Signature, Place, and Date of Signing: /s/ Richard Haydon New York, NY April 12, 2013 Report Type (Check only one.): [ X] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT. FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 26 Form 13F Information Table Value Total: $127,778 (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional managers with respect to which this report is filed, other than the manager filing this report. NONE FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- AMERICAN INTL GROUP INC COM NEW 026874784 6386 164500 SH SOLE 164500 0 0 AT&T INC COM 00206R102 208 5680 SH SOLE 5680 0 0 BANK OF AMERICA CORPORATION COM 060505104 7552 620000 SH SOLE 620000 0 0 BP PLC SPONSORED ADR 055622104 12218 288500 SH SOLE 288500 0 0 CAMECO CORP COM 13321L108 3637 175000 SH SOLE 175000 0 0 CINCINNATI BELL INC NEW COM 171871106 49 15000 SH SOLE 15000 0 0 DECKERS OUTDOOR CORP COM 243537107 1169 21000 SH SOLE 21000 0 0 DELTA AIR LINES INC DEL COM NEW 247361702 5779 350000 SH SOLE 350000 0 0 EBAY INC COM 278642103 1084 20000 SH SOLE 20000 0 0 FLY LEASING LTD SPONSORED ADR 34407D109 2167 133900 SH SOLE 133900 0 0 FORD MTR CO DEL COM PAR $0.01 345370860 3945 300000 SH SOLE 300000 0 0 FREEPORT-MCMORAN COPPER & GO COM 35671D857 7861 237500 SH SOLE 237500 0 0 FRONTIER COMMUNICATIONS CORP COM 35906A108 9141 2291000 SH SOLE 2291000 0 0 FURNITURE BRANDS INTL INC COM 360921100 525 525000 SH SOLE 525000 0 0 GALLAGHER ARTHUR J & CO COM 363576109 5308 128500 SH SOLE 128500 0 0 HAWAIIAN HOLDINGS INC COM 419879101 231 40000 SH SOLE 40000 0 0 JPMORGAN CHASE & CO COM 46625H100 7119 150000 SH SOLE 150000 0 0 PARAMETRIC SOUND CORP COM NEW 699172201 1121 55900 SH SOLE 55900 0 0 PROSHARES TR PSHS ULTSH 20YRS 74347B201 6453 98200 SH SOLE 98200 0 0 REALOGY HLDGS CORP COM 75605Y106 7570 155000 SH SOLE 155000 0 0 REPUBLIC AWYS HLDGS INC COM 760276105 5828 505000 SH SOLE 505000 0 0 ROWAN COMPANIES PLC SHS CL A G7665A101 5198 147000 SH SOLE 147000 0 0 SEADRILL LIMITED SHS G7945E105 13358 359000 SH SOLE 359000 0 0 STANLEY BLACK & DECKER INC COM 854502101 5668 70000 SH SOLE 70000 0 0 VERIFONE SYS INC COM 92342Y109 4136 200000 SH SOLE 200000 0 0 WEATHERFORD INTERNATIONAL LT REG SHS H27013103 4067 335000 SH SOLE 335000 0 0