Am Investment Partners as of Dec. 31, 2011

                FORM 13F INFORMATION TABLE
NAME				TITLE			VALUE	 SHARES/ 	SH/	PUT/ 	INVMT	OTHER	VOTING AUTHORITY
OF ISSUER			OF CLASS	CUSIP	(x$1000) PRN AMT 	PRN	CALL	DISTN	MGRS	SOLE	SHARED	NONE
{S}				{C}		{C}	{C}	 {C} 		{C}	{C}	{C}	{C}	{C}	{C}	{C}
ADVANCED ANALOGIC TECHNOLOGI	COM	00752J108	249	43000		SH		SOLE	NONE	43000	0	0
ALLOS THERAPEUTICS INC		COM	019777101	50	35000		SH		SOLE	NONE	35000	0	0
BLUE COAT SYSTEMS INC		COM	09534T508	534	21000		SH		SOLE	NONE	21000	0	0
CENTRAL VT PUB SVC CORP		COM	155771108	386	11000		SH		SOLE	NONE	11000	0	0
CHINA REAL ESTATE INFO CORP	COM	16948Q103	81	20000		SH		SOLE	NONE	20000	0	0
CHINA ADVANCED CONSTR MATLS	COM	169365103	32	13500		SH		SOLE	NONE	13500	0	0
COMPLETE PRODUCTION SERVICES	COM	20453E109	1014	30200		SH		SOLE	NONE	30200	0	0
COMCAST CORP NEW		COM	20030N101	593	25000		SH		SOLE	NONE	25000	0	0
DEMANDTEC INC			COM	24802R506	428	32500		SH		SOLE	NONE	32500	0	0
DISCOVERY COMMUNICATNS NEW   COM SER A	25470F104	558	13610		SH		SOLE	NONE	13610	0	0
DELPHI FINL GROUP INC		COM	247131105	225	5090		SH		SOLE	NONE	5090	0	0
EMMIS COMMUNICATIONS CORP	CL A	291525103	30	45000		SH		SOLE	NONE	45000	0	0
GOODRICH CORP			COM	382388106	928	7500		SH		SOLE	NONE	7500	0	0
GOODRICH CORP			COM	382388906	64	10000		SH	P	SOLE	NONE	10000	0	0
HARLEYSVILLE GROUP INC		COM	412824104	283	5000		SH		SOLE	NONE	5000	0	0
HERALD NATL BK NEW YORK		COM	42703Q104	280	79684		SH		SOLE	NONE	79684	0	0
HEALTHSPRING INC		COM	42224N101	545	10000		SH		SOLE	NONE	10000	0	0
ISTA PHARMACEUTICALS INC	COM	45031X204	106	15000		SH	C	SOLE	NONE	15000	0	0
LIBERTY GLOBAL INC	     COM SER A	530555309	410	10000		SH		SOLE	NONE	10000	0	0
MOTOROLA MOBILITY HLDGS INC	COM	620097105	446	11500		SH		SOLE	NONE	11500	0	0
99 CENTS ONLY STORES		COM	65440K106	560	25500		SH		SOLE	NONE	25500	0	0
NOVELLUS SYS INC		COM	670008101	206	5000		SH		SOLE	NONE	5000	0	0
NETLOGIC MICROSYSTEMS INC	COM	64118B100	867	17500		SH		SOLE	NONE	17500	0	0
NEWS CORP			CL A	65248E104	182	10000		SH		SOLE	NONE	10000	0	0
PARLUX FRAGRANCES INC		COM	701645103	51	10000		SH		SOLE	NONE	10000	0	0
PINNACLE DATA SYS INC		COM	723454104	24	10000		SH		SOLE	NONE	10000	0	0
RIGHTNOW TECHNOLOGIES INC	COM	76657R106	299	7000		SH		SOLE	NONE	7000	0	0
SUCCESSFACTORS INC		COM	864596101	718	18000		SH		SOLE	NONE	18000	0	0
SHANDA INTERACTIVE ENTMT LTD	COM	81941Q203	400	10000		SH		SOLE	NONE	10000	0	0
SOUTHERN UN CO NEW		COM	844030106	1179	28000		SH		SOLE	NONE	28000	0	0
S1 CORPORATION			COM	78463B101	502	52500		SH		SOLE	NONE	52500	0	0
TELEPHONE & DATA SYS INC	COM	879433100	719	30200		SH		SOLE	NONE	30200	0	0
TEMPLE INLAND INC		COM	879868107	666	21000		SH		SOLE	NONE	21000	0	0
TALBOTS INC			COM	874161102	93	35000		SH		SOLE	NONE	35000	0	0
TOWER BANCORP INC		COM	891709107	902	31600		SH		SOLE	NONE	31600	0	0
TRANSATLANTIC HLDGS INC		COM	893521904	547	10000		SH		SOLE	NONE	10000	0	0
PHARMASSET INC			COM	71715N106	462	3600		SH		SOLE	NONE	3600	0	0
WINN DIXIE STORES INC		COM	974280307	258	27500		SH		SOLE	NONE	27500	0	0
WPCS INTL INC			COM	92931L203	18	10500		SH		SOLE	NONE	10500	0	0