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
ACCRETIVE HEALTH INC COM 00438V103 14,963 1,870,400 SH   SOLE   1,870,400 0 0
ACCRETIVE HEALTH INC COM 00438V103 5,114 639,312 SH   DFND 1 0 639,312 0
AGNICO EAGLE MINES LTD COM 008474108 7,762 256,600 SH   SOLE   256,600 0 0
AGNICO EAGLE MINES LTD COM 008474108 2,743 90,692 SH   DFND 1 0 90,692 0
AGILYSYS INC COM 00847J105 70,814 5,284,648 SH   SOLE   5,284,648 0 0
AGILYSYS INC COM 00847J105 23,749 1,772,286 SH   DFND 1 0 1,772,286 0
AURICO GOLD INC COM 05155C105 7,927 1,822,400 SH   SOLE   1,822,400 0 0
AURICO GOLD INC COM 05155C105 2,797 643,027 SH   DFND 1 0 643,027 0
EQT CORP COM 26884L109 8,464 87,287 SH   SOLE   87,287 0 0
EQT CORP COM 26884L109 87 900 SH   DFND 1 0 900 0
LOUISIANA PAC CORP COM 546347105 18,542 1,099,100 SH   SOLE   1,099,100 0 0
LOUISIANA PAC CORP COM 546347105 6,340 375,788 SH   DFND 1 0 375,788 0
MCDERMOTT INTL INC COM 580037109 12,770 1,633,000 SH   SOLE   1,633,000 0 0
MCDERMOTT INTL INC COM 580037109 4,366 558,291 SH   DFND 1 0 558,291 0
NEWPORT CORP COM 651824104 9,923 479,832 SH   SOLE   479,832 0 0
NEWPORT CORP COM 651824104 1,167 56,442 SH   DFND 1 0 56,442 0
ORBOTECH LTD ORD M75253100 24,975 1,622,805 SH   SOLE   1,622,805 0 0
ORBOTECH LTD ORD M75253100 5,791 376,292 SH   DFND 1 0 376,292 0
OWENS CORNING NEW COM 690742101 30,957 717,100 SH   SOLE   717,100 0 0
OWENS CORNING NEW COM 690742101 10,581 245,102 SH   DFND 1 0 245,102 0
REGIS CORP MINN COM 758932107 7,617 556,000 SH   SOLE   556,000 0 0
REGIS CORP MINN COM 758932107 2,604 190,066 SH   DFND 1 0 190,066 0
SENOMYX INC COM 81724Q107 2,732 256,000 SH   SOLE   256,000 0 0
SENOMYX INC COM 81724Q107 1,078 100,996 SH   DFND 1 0 100,996 0
SELECT INCOME REIT COM SH BEN INT 81618T100 3,478 114,900 SH   SOLE   114,900 0 0
SELECT INCOME REIT COM SH BEN INT 81618T100 1,190 39,311 SH   DFND 1 0 39,311 0
SILVER STD RES INC COM 82823L106 8,808 887,000 SH   SOLE   887,000 0 0
SILVER STD RES INC COM 82823L106 3,107 312,865 SH   DFND 1 0 312,865 0
SOUTHWESTERN ENERGY CO COM 845467109 28,604 621,700 SH   SOLE   621,700 0 0
SOUTHWESTERN ENERGY CO COM 845467109 9,776 212,469 SH   DFND 1 0 212,469 0
ULTRA PETROLEUM CORP COM 903914109 20,068 746,300 SH   SOLE   746,300 0 0
ULTRA PETROLEUM CORP COM 903914109 6,874 255,625 SH   DFND 1 0 255,625 0
VEECO INSTRS INC DEL COM 922417100 20,793 495,900 SH   SOLE   495,900 0 0
VEECO INSTRS INC DEL COM 922417100 7,108 169,514 SH   DFND 1 0 169,514 0
WEST MARINE INC COM 954235107 5,458 480,079 SH   SOLE   480,079 0 0
WEST MARINE INC COM 954235107 1,069 94,031 SH   DFND 1 0 94,031 0
ZYGO CORP COM 989855101 55,138 3,629,877 SH   SOLE   3,629,877 0 0
ZYGO CORP COM 989855101 11,243 740,183 SH   DFND 1 0 740,183 0