Black Horse Capital Management

Black Horse Capital Management as of Dec. 31, 2010

Portfolio Holdings for Black Horse Capital Management

Black Horse Capital Management holds 18 positions in its portfolio as reported in the December 2010 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
SPDR Gold Trust (GLD) 16.4 $17M 123k 138.72
Qlt 12.6 $13M 1.8M 7.33
Cypress Bioscience (CYPB) 10.9 $11M 1.8M 6.48
Questcor Pharmaceuticals 10.5 $11M 744k 14.73
MedQuist (MEDQ) 9.5 $10M 1.2M 8.65
Market Vectors Gold Miners ETF 7.5 $7.9M 128k 61.47
DG FastChannel 6.7 $7.0M 243k 28.88
iShares Russell 2000 Index (IWM) 6.0 $6.3M 80k 78.24
SeraCare Life Sciences 4.8 $5.1M 1.1M 4.75
Genzyme Corporation 3.6 $3.8M 53k 71.21
CPEX Pharmaceuticals (CPEX) 2.8 $2.9M 121k 24.25
SLM Corporation (SLM) 2.4 $2.5M 200k 12.59
Evolving Systems (EVOL) 2.1 $2.2M 270k 8.32
Covanta Holding Corporation 1.8 $1.9M 111k 17.19
Mediacom Communications Corporation 0.8 $847k 100k 8.47
Atlantic Tele-Network 0.8 $787k 21k 38.38
Gravity 0.4 $403k 24k 17.08
Multimedia Games 0.3 $346k 62k 5.58