The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ALLEGIANT TRAVEL CO COM 01748X102 9,818 93,110 SH   SOLE   0 93,110 0
ALLIANCE DATA SYS CORP COM COM 018581108 47,724 181,510 SH   SOLE   0 181,510 0
ALLIANCEBERNSTEIN HLDG UNIT LT COM 01881G106 329 15,440 SH   SOLE   0 15,440 0
AMERICAN AXLE & MFG COM COM 024061103 12,426 607,640 SH   SOLE   0 607,640 0
AMERICAN CAPITAL LTD COM 02503Y103 296 18,915 SH   SOLE   0 18,915 0
AMERICAN POWER GROUP CORP COM 02906V102 37 51,295 SH   SOLE   0 51,295 0
ASBURY AUTOMOTIVE GP COM COM 043436104 12,298 228,850 SH   SOLE   0 228,850 0
American International Group COM 026874784 19,403 380,080 SH   SOLE   0 380,080 0
Apple Computer Inc. COM 037833100 7,940 14,153 SH   SOLE   0 14,153 0
BELLATRIX EXPLORATION COM COM 078314101 2,641 360,365 SH   SOLE   0 360,365 0
Berkshire Hathaway CL B COM 084670702 13,947 117,635 SH   SOLE   0 117,635 0
CAREER EDUCATION CORP COM COM 141665109 118 20,700 SH   SOLE   0 20,700 0
CELGENE CORP COM COM 151020104 24,910 147,425 SH   SOLE   0 147,425 0
CHICAGO BRIDGE & IRON COM COM 167250109 5,399 64,935 SH   SOLE   0 64,935 0
CLEAN ENERGY FUELS CRP COM COM 184499101 11,353 881,475 SH   SOLE   0 881,475 0
COVIDIEN PLC SHS COM G2554F113 12,369 181,635 SH   SOLE   0 181,635 0
CYPRESS SEMICONDUCTOR COM COM 232806109 3,493 332,682 SH   SOLE   0 332,682 0
Capital One Financial Corp. COM 14040H105 4,004 52,260 SH   SOLE   0 52,260 0
Cirrus Logic Inc. COM 172755100 2,365 115,805 SH   SOLE   0 115,805 0
Cisco Systems Inc COM 17275R102 3,714 165,599 SH   SOLE   0 165,599 0
Citigroup Inc. COM 172967424 17,777 341,145 SH   SOLE   0 341,145 0
DIRECTV GROUP INC COM COM 25490a309 7,026 101,740 SH   SOLE   0 101,740 0
DISCOVER FINL SVCS COM COM 254709108 2,527 45,170 SH   SOLE   0 45,170 0
Delta Air Lines COM 247361702 20,724 754,415 SH   SOLE   0 754,415 0
EMAGIN CORP COM NEW COM 29076N206 194 68,380 SH   SOLE   0 68,380 0
EZCHIP SEMICONDUCTOR COM M4146Y108 8,171 332,035 SH   SOLE   0 332,035 0
FLYHT AEROSPACE SOLUTI COM COM 30252U105 22 50,895 SH   SOLE   0 50,895 0
FORTRESS INVT GRP LLC CL A COM 34958B106 606 70,765 SH   SOLE   0 70,765 0
FUEL SYS SOLUTIONS INC COM COM 35952W103 1,122 80,883 SH   SOLE   0 80,883 0
Forest Oil COM 346091705 368 102,060 SH   SOLE   0 102,060 0
GILEAD SCIENCES INC COM COM 375558103 14,479 192,795 SH   SOLE   0 192,795 0
GLOBUS MED INC CL A COM 379577208 2,278 112,875 SH   SOLE   0 112,875 0
General Electric COM 369604103 17,442 622,255 SH   SOLE   0 622,255 0
General Motors Co. COM 37045V100 19,286 471,895 SH   SOLE   0 471,895 0
HANESBRANDS INC COM COM 410345102 3,451 49,115 SH   SOLE   0 49,115 0
Halliburton Co. COM 406216101 12,705 250,350 SH   SOLE   0 250,350 0
INNOVATIVE SOLTNS&SUPP COM COM 45769N105 2,932 402,214 SH   SOLE   0 402,214 0
International Business Machine COM 459200101 1,135 6,050 SH   SOLE   0 6,050 0
J.P. Morgan Chase & Co. COM 46625H100 26,715 456,820 SH   SOLE   0 456,820 0
KBR INC COM COM 48242W106 5,700 178,745 SH   SOLE   0 178,745 0
LATTICE SEMICONDUCTOR CORP COM 518415104 3,647 664,310 SH   SOLE   0 664,310 0
LINCOLN NATL CORP IND COM COM 534187109 15,862 307,280 SH   SOLE   0 307,280 0
LSI LOGIC CORP COM COM 502161102 3,463 313,835 SH   SOLE   0 313,835 0
Mcdermott Intl Inc COM 580037109 248 27,020 SH   SOLE   0 27,020 0
Microsoft Corp COM 594918104 21,176 566,065 SH   SOLE   0 566,065 0
Morgan Stanley COM 617446448 378 12,065 SH   SOLE   0 12,065 0
NUPATHE INC COM COM 67059M100 67 20,425 SH   SOLE   0 20,425 0
Oracle Corp COM 68389X105 20,721 541,593 SH   SOLE   0 541,593 0
PAN AMERICAN SILVER CP COM COM 697900108 236 20,210 SH   SOLE   0 20,210 0
PHILIP MORRIS INTL. INC. COM 718172109 21,389 245,487 SH   SOLE   0 245,487 0
Pfizer Inc COM 717081103 1,382 45,129 SH   SOLE   0 45,129 0
Pulte Homes, Inc. COM 745867101 3,887 190,800 SH   SOLE   0 190,800 0
QUANTUM FUEL SYS TECH COM NEW COM 74765E307 117 14,990 SH   SOLE   0 14,990 0
REX ENERGY CORP COM 761565100 16,581 841,265 SH   SOLE   0 841,265 0
Rush Enterprises CLA COM 781846209 11,415 385,002 SH   SOLE   0 385,002 0
Rush Enterprises CLB COM 781846308 2,381 93,372 SH   SOLE   0 93,372 0
SONIC AUTOMOTIVE INC CL A COM 83545G102 24,186 987,990 SH   SOLE   0 987,990 0
SPIRIT AIRLS INC COM COM 848577102 3,938 86,725 SH   SOLE   0 86,725 0
State Street Corp COM 857477103 24,118 328,628 SH   SOLE   0 328,628 0
TEVA PHARMACEUTCL INDS ADR COM 881624209 7,068 176,340 SH   SOLE   0 176,340 0
UNIVERSAL DISPLAY CORP COM COM 91347P105 7,076 205,945 SH   SOLE   0 205,945 0
WCI CMNTYS INC COM PAR $0.01 COM 92923C807 2,985 156,344 SH   SOLE   0 156,344 0
WESTPORT INNOVATIONS COM NEW COM 960908309 11,541 588,547 SH   SOLE   0 588,547 0
Muhlenkamp Fund MUT 962096103 258 3,796 SH   SOLE   0 3,796 0
DOUBLELINE INCOME SOLU COM CF 258622109 387 18,355 SH   SOLE   0 18,355 0
CALL AMERICAN CAPITAL LTD 12 E CALL 4180324 1,627 4,120 SH   SOLE   0 4,120 0
CALL CIGNA CORP $52.5 EXP 01/1 CALL 4104888 216 60 SH   SOLE   0 60 0
CALL MICROSOFT CORP $28 EXP 01 CALL 4345707 2,300 2,376 SH   SOLE   0 2,376 0
CALL MORGAN STANLEY $15 EXP 01 CALL 4680440 524 320 SH   SOLE   0 320 0
CALL MORGAN STANLEY $17 EXP 01 CALL 0000AN2A5 5,740 4,000 SH   SOLE   0 4,000 0