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

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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
AFFIRMATIVE INSURANCE HOLDIN COM 008272106 0 105,268 SH   DFND 1 105,268 0 0
AIR TRANSPORT SERVICES GROUP INC COM 00922R105 105,141 7,326,871 SH   DFND 1 7,326,871 0 0
DECKERS OUTDOOR CORP COM 243537107 62,804 1,054,641 SH   DFND 1 1,054,641 0 0
DESTINATION XL GROUP INC COM 25065K104 33,114 7,647,469 SH   DFND 1 7,647,469 0 0
ENCORE CAPITAL GROUP INC COM 292554102 31,172 1,386,636 SH   DFND 1 1,386,636 0 0
MARLIN BUSINESS SERVICES INC COM 571157106 58,177 3,001,925 SH   DFND 1 3,001,925 0 0
NATURES SUNSHINE PRODS INC. COM 639027101 40,189 2,511,837 SH   DFND 1,2 2,511,837 0 0