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
AMERICAN AIRLS GROUP INC COM 02376R102 12,352 309,300 SH   SOLE   273,300 0 36,000
ATLAS FINANCIAL HOLDINGS INC SHS NEW G06207115 729 36,783 SH   SOLE   36,783 0 0
ALLERGAN PLC SHS G0177J108 1,578 5,200 SH   SOLE   5,200 0 0
ALLY FINL INC COM 02005N100 1,438 64,100 SH   SOLE   64,100 0 0
ABERCROMBIE & FITCH CO CL A 002896207 280 13,000 SH   SOLE   13,000 0 0
APOLLO ED GROUP INC CL A 37604105 1,713 133,000 SH   SOLE   120,000 0 13,000
AMERICAN RLTY CAP PPTYS INC COM 02917T104 642 78,986 SH   SOLE   78,986 0 0
ALTISOURCE PORTFOLIO SOLNS REG SHS L0175J104 523 17,000 SH   SOLE   17,000 0 0
ATLANTIC PWR CORP COM NEW 04878Q863 400 130,000 SH   SOLE   130,000 0 0
ATLAS ENERGY LP COM UNITS LP 04930A104 123 24,613 SH   SOLE   24,613 0 0
AEROPOSTALE COM 7865108 49 30,000 SH   SOLE   30,000 0 0
ACTIVISION BLIZZARD INC COM 00507V109 1,977 81,642 SH   SOLE   81,642 0 0
BANK AMER CORP COM 060505104 1,532 90,000 SH   SOLE   90,000 0 0
BOOKS-A-MILLION INC COM 098570104 221 77,114 SH   SOLE   77,114 0 0
BLUCORA INC COM 095229100 713 44,148 SH   SOLE   44,148 0 0
BROADCOM CORP CL A 111320107 4,789 93,000 SH   SOLE   89,000 0 4,000
BERKSHIRE HATHAWAY INC CL B 84670702 2,314 17,000 SH   SOLE   17,000 0 0
PEABODY ENERGY CORP COM 704549104 583 266,135 SH   SOLE   232,135 0 34,000
CITIGROUP INC COM NEW 172967424 276 5,000 SH   SOLE   5,000 0 0
MAGICJACK VOCALTEC LTD SHS M6787E101 111 15,000 SH   SOLE   15,000 0 0
CARBONITE INC COM 141337105 333 28,200 SH   SOLE   28,200 0 0
CAREER EDUCATION CORP COM 141665109 107 32,500 SH   SOLE   32,500 0 0
CENTER COAST MLP & INFRSTR F COM SHS 151461100 164 10,740 SH   SOLE   10,740 0 0
CHICOS FAS INC COM 168615102 4,951 297,725 SH   SOLE   255,225 0 42,500
CLOUD PEAK ENERGY INC COM 18911Q102 583 125,048 SH   SOLE   112,048 0 13,000
CLIFFS NAT RES INC COM 18683K101 944 218,011 SH   SOLE   185,011 0 33,000
CELLECTIS S A SPONSORED ADS 15117K103 375 10,400 SH   SOLE   10,400 0 0
COMCAST CORP NEW CL A 20030N101 1,564 26,000 SH   SOLE   26,000 0 0
CNOVA N V SHS N20947102 1,056 190,980 SH   SOLE   185,980 0 5,000
CALPINE CORP COM NEW 131347304 180 10,000 SH   SOLE   10,000 0 0
CENVEO INC COM 15670S105 55 26,000 SH   SOLE   26,000 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 2,629 64,000 SH   SOLE   55,000 0 9,000
DEAN FOODS CO NEW COM NEW 242370203 1,079 66,710 SH   SOLE   66,710 0 0
DHT HOLDINGS INC SHS NEW Y2065G121 458 59,000 SH   SOLE   59,000 0 0
DISH NETWORK CORP CL A 25470M109 3,497 51,642 SH   SOLE   47,642 0 4,000
DIRECTV COM 25490A309 15,204 163,855 SH   SOLE   128,855 0 35,000
EBAY INC COM 278642103 1,512 25,100 SH   SOLE   25,100 0 0
EMMIS COMMUNICATIONS CORP CL A 291525103 1,004 1,003,866 SH   SOLE   659,673 0 344,193
EVOLUTION PETROLEUM CORP COM 30049A107 80 12,144 SH   SOLE   12,144 0 0
EQUITY COMWLTH COM SH BEN INT 294628102 2,230 86,872 SH   SOLE   86,872 0 0
ENERGY RECOVERY INC COM 29270J100 28 10,314 SH   SOLE   10,314 0 0
ESSENT GROUP LTD COM G3198U102 1,397 51,090 SH   SOLE   43,090 0 8,000
ENERGY XXI LTD USD UNRS SHS G10082140 151 57,342 SH   SOLE   50,000 0 7,342
FAMILY DLR STORES INC COM 307000109 2,167 27,498 SH   SOLE   27,498 0 0
FRONTLINE LTD SHS G3682E127 288 118,000 SH   SOLE   118,000 0 0
GAIN CAP HLDGS INC COM 36268W100 425 44,500 SH   SOLE   44,500 0 0
GANNETT INC COM 364730101 78 5,600 SH   SOLE   5,600 0 0
GRAHAM HLDGS CO COM 384637104 6,991 6,500 SH   SOLE   5,500 0 1,000
GEEKNET INC COM NEW 36846Q203 247 12,400 SH   SOLE   12,400 0 0
GASLOG LTD SHS G37585909 4,172 209,130 SH   SOLE   188,730 0 20,400
GAMING & LEISURE PPTYS INC COM 36467J108 8,185 223,266 SH   SOLE   190,000 0 33,266
GENERAL MTRS CO COM 37045V100 667 20,000 SH   SOLE   8,000 0 12,000
GASTAR EXPL INC NEW COM 36729W202 823 266,481 SH   SOLE   223,181 0 43,300
GRAY TELEVISION INC COM 389375106 335 15,000 SH   SOLE   15,000 0 0
GULF COAST ULTRA DEEP RTY TR ROYALTY TR UNT 40222T104 24 34,527 SH   SOLE   0 0 34,527
HI-CRUSH PARTNERS LP COM UNIT LTD 428337109 3,647 118,841 SH   SOLE   115,841 0 3,000
STARWOOD HOTELS&RESORTS WRLD COM 85590A401 3,892 48,000 SH   SOLE   48,000 0 0
HUMANA INC COM 444859102 765 4,000 SH   SOLE   2,000 0 2,000
INTELSAT S A COM L5140P101 145 14,620 SH   SOLE   14,620 0 0
INTERACTIVE BROKERS GROUP IN COM 45841N107 25,828 621,464 SH   SOLE   585,591 0 35,873
INTERNATIONAL BUSINESS MACHS COM 459200101 2,521 15,500 SH   SOLE   12,500 0 3,000
INTL PAPER CO COM 460146103 238 5,000 SH   SOLE   5,000 0 0
JAKKS PAC INC COM 47012E106 168 17,000 SH   SOLE   17,000 0 0
PENNEY J C INC COM 708160106 754 89,000 SH   SOLE   55,000 0 34,000
JUMEI INTL HLDG LTD SPONSORED ADR 48138L107 286 12,506 SH   SOLE   12,506 0 0
JPMORGAN CHASE & CO COM 46625H100 3,930 58,000 SH   SOLE   54,000 0 4,000
KING DIGITAL ENTMT PLC ORD SHS G5258J109 2,263 158,830 SH   SOLE   137,030 0 21,800
MICHAEL KORS HLDGS LTD SHS G60754101 694 16,500 SH   SOLE   16,500 0 0
LEE ENTERPRISES INC COM 523768109 2,067 620,784 SH   SOLE   391,800 0 228,984
LIBERTY MEDIA CORP DELAWARE COM SER C 531229300 287 8,000 SH   SOLE   8,000 0 0
LUMENIS LTD SHS CL B M6778Q121 176 12,817 SH   SOLE   12,817 0 0
LPL FINL HLDGS INC COM 50212V100 279 6,000 SH   SOLE   6,000 0 0
SOUTHWEST AIRLS CO COM 844741108 563 17,000 SH   SOLE   17,000 0 0
MBIA INC COM 55262C100 1,030 171,302 SH   SOLE   135,000 0 36,302
MEDTRONIC PLC SHS G5960L103 1,556 21,000 SH   SOLE   21,000 0 0
MCCLATCHY CO CL A 579489105 139 128,800 SH   SOLE   128,800 0 0
MICRON TECHNOLOGY INC COM 595112103 188 10,000 SH   SOLE   10,000 0 0
MYRIAD GENETICS INC COM 62855J104 408 12,000 SH   SOLE   12,000 0 0
NETFLIX INC COM 64110L106 1,182 1,800 SH   SOLE   1,800 0 0
NMI HLDGS INC CL A 629209305 718 89,521 SH   SOLE   77,521 0 12,000
NU SKIN ENTERPRISES INC CL A 67018T105 566 12,000 SH   SOLE   12,000 0 0
NVIDIA CORP COM 67066G104 5,140 255,611 SH   SOLE   216,611 0 39,000
NEWS CORP NEW CL A 65249B109 2,124 145,608 SH   SOLE   145,608 0 0
NEW YORK TIMES CO CL A 650111107 2,221 162,700 SH   SOLE   107,000 0 55,700
OCWEN FINL CORP COM NEW 675746309 343 33,653 SH   SOLE   33,653 0 0
ORION ENERGY SYSTEMS INC COM 686275108 118 47,000 SH   SOLE   47,000 0 0
OM GROUP INC COM 670872100 2,046 60,890 SH   SOLE   60,890 0 0
ORBITZ WORLDWIDE INC COM 68557K109 114 10,000 SH   SOLE   10,000 0 0
PALL CORP COM 696429307 249 2,000 SH   SOLE   2,000 0 0
PERRIGO CO PLC SHS G97822103 2,588 14,000 SH   SOLE   14,000 0 0
RESTAURANT BRANDS INTL INC COM 76131D103 1,088 28,478 SH   SOLE   28,478 0 0
RCS CAP CORP COM CL A 74937W102 2,796 365,000 SH   SOLE   310,000 0 55,000
ROCK-TENN CO CL A 772739207 205 3,400 SH   SOLE   3,400 0 0
SEARS HOMETOWN & OUTLET STOR COM 812362101 435 45,821 SH   SOLE   43,453 0 2,368
SONY CORP ADR NEW 835699307 483 17,000 SH   SOLE   17,000 0 0
SMITH & NEPHEW PLC SPDN ADR NEW 83175M205 3,276 96,500 SH   SOLE   89,500 0 7,000
NEW SR INVT GROUP INC COM 648691103 728 54,431 SH   SOLE   52,330 0 2,101
SODASTREAM INTERNATIONAL LTD USD SHS M9068E105 288 13,620 SH   SOLE   6,100 0 7,520
TEGNA INC COM 87901J105 359 11,200 SH   SOLE   11,200 0 0
T MOBILE US INC COM 872590104 10,212 263,405 SH   SOLE   243,405 0 20,000
TEEKAY TANKERS LTD CL A Y8565N102 490 74,100 SH   SOLE   74,100 0 0
TSAKOS ENERGY NAVIGATION LTD SHS G9108L108 210 22,000 SH   SOLE   22,000 0 0
DEALERTRACK TECHNOLOGIES INC COM 242309102 2,951 47,000 SH   SOLE   47,000 0 0
TARGA RES CORP COM 87612G101 601 6,734 SH   SOLE   6,734 0 0
TORNIER N V SHS N87237108 667 26,700 SH   SOLE   26,700 0 0
TRANSCANADA CORP COM 89353D107 569 14,000 SH   SOLE   14,000 0 0
TESLA MTRS INC COM 88160R101 4,292 16,000 SH   SOLE   16,000 0 0
TAKE-TWO INTERACTIVE SOFTWAR COM 874054109 2,509 91,000 SH   SOLE   91,000 0 0
TIME WARNER INC COM NEW 887317303 874 10,000 SH   SOLE   10,000 0 0
UNITED CONTL HLDGS INC COM 910047109 345 6,500 SH   SOLE   6,500 0 0
VIRGIN AMER INC COM VTG 92765X208 894 32,550 SH   SOLE   32,550 0 0
VERSO PAPER CORP COM 92531L108 17 25,000 SH   SOLE   15,000 0 10,000
WELLS FARGO & CO NEW COM 949746101 984 17,500 SH   SOLE   17,500 0 0
YELP INC CL A 985817105 7,883 183,208 SH   SOLE   165,708 0 17,500
YAHOO INC COM 984332106 1,572 40,000 SH   SOLE   40,000 0 0