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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
AARONS INC COM 002535300 15,876 525,016 SH   SOLE   0 0 0
AMERICAN APPAREL INC COM 023850100 3,057 6,102,675 SH   SOLE   0 0 0
AVIV REIT INC MD COM 05381L101 10,296 421,113 SH   SOLE   0 0 0
BLOCK H & R INC COM 093671105 19,456 644,452 SH   SOLE   0 0 0
BLUCORA INC COM 095229100 8,548 434,153 SH   SOLE   0 0 0
CHECKPOINT SYS INC COM 162825103 4,236 315,620 SH   SOLE   0 0 0
COMMONWEALTH REIT COM 203233101 6,936 263,733 SH   SOLE   0 0 0
GEO GROUP INC COM 36159R103 4,809 149,164 SH   SOLE   0 0 0
GETTY RLTY CORP NEW COM 374297109 9,116 482,604 SH   SOLE   0 0 0
IMPERIAL HLDGS INC COM 452834104 6,888 1,197,844 SH   SOLE   0 0 0
PERFORMANT FINL CORP COM 71377E105 6,546 723,333 SH   SOLE   0 0 0
SABRA HEALTH CARE REIT INC COM 78573L106 11,363 407,424 SH   SOLE   0 0 0
STATE BK FINL CORP COM 856190103 9,224 521,431 SH   SOLE   0 0 0
XO GROUP INC COM 983772104 9,809 967,373 SH   SOLE   0 0 0