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
ACTUATE CORP COM 00508B102 1,708 221,497 SH   SOLE   221,497 0 0
AIR METHODS CORP COM PAR $.06 009128307 1,165 20,000 SH   SOLE   20,000 0 0
AIR TRANSPORT SERVICES GRP I COM 00922R105 3,050 377,010 SH   SOLE   377,010 0 0
ALLIANCE ONE INTL INC COM 018772103 1,810 593,305 SH   SOLE   593,305 0 0
AMERICAN AXLE & MFG HLDGS IN COM 024061103 1,444 70,618 SH   SOLE   70,618 0 0
AMERICAN EQTY INVT LIFE HLD COM 025676206 721 27,332 SH   SOLE   27,332 0 0
ASSURED GUARANTY LTD COM G0585R106 1,415 60,000 SH   SOLE   60,000 0 0
BABCOCK & WILCOX CO NEW COM 05615F102 2,906 85,000 SH   SOLE   85,000 0 0
BALTIC TRADING LIMITED COM Y0553W103 3,671 570,000 SH   SOLE   570,000 0 0
BEBE STORES INC COM 075571109 1,166 219,100 SH   SOLE   219,100 0 0
BIOSCRIP INC COM 09069N108 647 87,399 SH   SOLE   87,399 0 0
BOISE CASCADE CO DEL COM 09739D100 2,801 95,000 SH   SOLE   95,000 0 0
BPZ RESOURCES INC COM 055639108 1,235 678,323 SH   SOLE   678,323 0 0
BRIDGEPOINT ED INC COM 10807M105 1,135 64,091 SH   SOLE   64,091 0 0
CASELLA WASTE SYS INC CL A 147448104 3,626 625,145 SH   SOLE   625,145 0 0
CENVEO INC COM 15670S105 1,612 468,676 SH   SOLE   468,676 0 0
CHINA CERAMICS CO LTD SHS G2113X100 1,165 477,334 SH   SOLE   477,334 0 0
CHINA XD PLASTICS CO LTD COM 16948F107 1,407 267,451 SH   SOLE   267,451 0 0
CHIQUITA BRANDS INTL INC COM 170032809 1,989 170,000 SH   SOLE   170,000 0 0
DATALINK CORP COM 237934104 1,176 107,906 SH   SOLE   107,906 0 0
DELTA APPAREL INC COM 247368103 2,290 134,871 SH   SOLE   134,871 0 0
DIGITALGLOBE INC COM NEW 25389M877 1,235 30,000 SH   SOLE   30,000 0 0
EMCORE CORP COM NEW 290846203 1,452 283,594 SH   SOLE   283,594 0 0
ERICKSON AIR-CRANE INC COM 29482P100 400 19,233 SH   SOLE   19,233 0 0
EXCO RESOURCES INC COM 269279402 531 100,000 SH   SOLE   100,000 0 0
FEDERATED NATL HLDG CO COM 31422T101 1,834 125,000 SH   SOLE   125,000 0 0
FIVE STAR QUALITY CARE INC COM 33832D106 1,320 240,346 SH   SOLE   240,346 0 0
FREIGHTCAR AMER INC COM 357023100 1,464 55,000 SH   SOLE   55,000 0 0
GASTAR EXPL COM NEW 367299203 408 59,000 SH   SOLE   59,000 0 0
GREENBRIER COS INC COM 393657101 1,314 40,000 SH   SOLE   40,000 0 0
HARVEST NATURAL RESOURCES IN COM 41754V103 643 142,327 SH   SOLE   142,327 0 0
HELEN OF TROY CORP LTD COM G4388N106 2,883 58,380 SH   SOLE   58,380 0 0
HIMAX TECHNOLOGIES INC SPONSORED ADR 43289P106 3,190 216,847 SH   SOLE   216,847 0 0
IAO KUN GROUP HLDG CO LTD ORD USD SHS G47204105 1,312 427,288 SH   SOLE   427,288 0 0
IMPERIAL HLDGS INC COM 452834104 3,112 475,917 SH   SOLE   475,917 0 0
JTH HLDG INC CL A 46637N103 2,364 97,269 SH   SOLE   97,269 0 0
KEMET CORP COM NEW 488360207 1,692 300,000 SH   SOLE   300,000 0 0
KEY ENERGY SVCS INC COM 492914106 593 75,000 SH   SOLE   75,000 0 0
KIRKLANDS INC COM 497498105 333 14,066 SH   SOLE   14,066 0 0
KVH INDS INC COM 482738101 1,983 152,180 SH   SOLE   152,180 0 0
LIBBEY INC COM 529898108 1,060 50,474 SH   SOLE   50,474 0 0
LIONBRIDGE TECHNOLOGIES INC COM 536252109 3,176 532,817 SH   SOLE   532,817 0 0
M D C HLDGS INC COM 552676108 3,063 95,000 SH   SOLE   95,000 0 0
MEADOWBROOK INS GROUP INC COM 58319P108 3,352 481,588 SH   SOLE   481,588 0 0
MERITOR INC COM 59001K100 1,504 144,177 SH   SOLE   144,177 0 0
MOTORCAR PTS AMER INC COM 620071100 2,654 137,520 SH   SOLE   137,520 0 0
NATURAL GAS SERVICES GROUP COM 63886Q109 1,061 38,495 SH   SOLE   38,495 0 0
NQ MOBILE IN ADR REPSTG CL A 64118U108 2,058 140,000 SH   SOLE   140,000 0 0
OCLARO INC COM NEW 67555N206 1,581 634,956 SH   SOLE   634,956 0 0
ORBITAL SCIENCES CORP COM 685564106 1,597 68,529 SH   SOLE   68,529 0 0
PERFECT WORLD CO LTD SPON ADR REP B 71372U104 1,456 81,900 SH   SOLE   81,900 0 0
PHYSICIANS RLTY TR COM 71943U104 1,529 120,000 SH   SOLE   120,000 0 0
PIKE ELEC CORP COM 721283109 1,129 106,833 SH   SOLE   106,833 0 0
PIONEER ENERGY SVCS CORP COM 723664108 1,204 150,369 SH   SOLE   150,369 0 0
PIXELWORKS INC COM NEW 72581M305 1,610 334,050 SH   SOLE   334,050 0 0
PRGX GLOBAL INC COM NEW 69357C503 1,924 286,300 SH   SOLE   286,300 0 0
QUALITY DISTR INC FLA COM 74756M102 3,504 273,147 SH   SOLE   273,147 0 0
QUMU CORP COM 749063103 1,197 93,485 SH   SOLE   93,485 0 0
RADIAN GROUP INC COM 750236101 2,158 152,800 SH   SOLE   152,800 0 0
RICKS CABARET INTL INC COM NEW 765641303 2,308 199,307 SH   SOLE   199,307 0 0
RUDOLPH TECHNOLOGIES INC COM 781270103 2,477 211,000 SH   SOLE   211,000 0 0
SAFEGUARD SCIENTIFICS INC COM NEW 786449207 2,101 104,567 SH   SOLE   104,567 0 0
SILICON GRAPHICS INTL CORP COM 82706L108 2,012 150,000 SH   SOLE   150,000 0 0
SILICON IMAGE INC COM 82705T102 3,205 521,094 SH   SOLE   521,094 0 0
SILICON MOTION TECHNOLOGY CO SPONSORED ADR 82706C108 2,753 194,566 SH   SOLE   194,566 0 0
SP PLUS CORP COM 78469C103 2,343 89,959 SH   SOLE   89,959 0 0
SUPPORT COM INC COM 86858W101 1,019 268,981 SH   SOLE   268,981 0 0
ULTRA CLEAN HLDGS INC COM 90385V107 2,006 200,000 SH   SOLE   200,000 0 0
WET SEAL INC CL A 961840105 1,256 460,000 SH   SOLE   460,000 0 0
XINYUAN REAL ESTATE CO LTD SPONS ADR 98417P105 2,044 382,100 SH   SOLE   382,100 0 0