Blackthorn Investment as of March 31, 2013
Portfolio Holdings for Blackthorn Investment
Blackthorn Investment holds 0 positions in its portfolio as reported in the March 2013 quarterly 13F filing
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FORM 13F INFORMATION TABLE
TITLE OF VALUE SHRS/ INVEST OTHER VOTING
NAME OF ISSUER CLASS CUSIP x $1000 PUT/CALL DISCRE MNGRS AUTHOR
1ST UNITED BANCORP INC. COM 33740N105 164 25,414 SOLE NA SOLE
ACE LIMITED COM STK COM H0023R105 831 9,336 SOLE NA SOLE
AGILENT TECHNOLOGIES INC COM 00846U101 406 9,679 SOLE NA SOLE
AKAMAI TECHNOLOGIES INC C COM 00971T101 876 24,812 SOLE NA SOLE
ALCATEL-LUCENT ADS COM 013904305 33 24,881 SOLE NA SOLE
ALEXION PHARMACEUTICALS I COM 015351109 414 4,496 SOLE NA SOLE
AMAZON COM INC COM COM 023135106 468 1,756 SOLE NA SOLE
AMC NETWORK CL A COM 00164V103 513 8,122 SOLE NA SOLE
AMER CMPS COMM COM 024835100 2,948 65,012 SOLE NA SOLE
AMERICAN ASSETS TRUST INC COM 024013104 2,959 92,428 SOLE NA SOLE
AMERICAN CAP STRATEGIES L COM 02503Y103 594 40,693 SOLE NA SOLE
AMERICAN CAPITAL AGENCY C COM 02503X105 656 20,000 SOLE NA SOLE
AMERICAN CAPITAL MORTGAGE COM 02504A104 775 30,000 SOLE NA SOLE
AMERICAN REALTY CAPITAL P COM 02917T104 440 30,000 SOLE NA SOLE
AMERICAN RIVER BANKSHARES COM 029326105 179 23,831 SOLE NA SOLE
AMERICAN TOWER COM 03027X100 2,000 26,000 SOLE NA SOLE
AMERIS BANCORP COM COM 03076K108 438 30,541 SOLE NA SOLE
AMGEN INC COM COM 031162100 461 4,496 SOLE NA SOLE
ANADARKO PETE CORP COM COM 032511107 6,192 70,801 SOLE NA SOLE
APPLIED MICRO CIRCUITS CO COM 03822W406 370 49,896 SOLE NA SOLE
ARBOR REALTY TRUST INC CO COM 038923108 1,450 185,000 SOLE NA SOLE
ARES COMMERCIAL REAL ESTA COM 04013V108 342 20,207 SOLE NA SOLE
AUTONATION INC COM COM 05329W102 478 10,935 SOLE NA SOLE
AVALONBAY COMMUNITIES INC COM 053484101 1,655 13,062 SOLE NA SOLE
AVG TECHNOLOGIES NV COM N07831105 209 15,000 SOLE NA SOLE
BANCORPSOUTH INC COM COM 059692103 345 21,179 SOLE NA SOLE
BANK OF COMMERCE HLDS COM COM 06424J103 404 78,935 SOLE NA SOLE
BANKFINANCIAL CORP COM COM 06643P104 243 30,020 SOLE NA SOLE
BANNER CORP COM COM 06652V208 870 27,319 SOLE NA SOLE
BARRETT BILL CORP COM COM 06846N104 4,054 200,000 SOLE NA SOLE
BENEFICIAL MUTAL COM 08173R104 521 50,534 SOLE NA SOLE
BERRY PETE CO CL A COM 085789105 9,026 194,987 SOLE NA SOLE
BK OF MARIN BNCP COM 063425102 718 17,901 SOLE NA SOLE
BMC SOFTWARE INC COM COM 055921100 927 20,000 SOLE NA SOLE
BNC BANCORP COM COM 05566T101 417 41,633 SOLE NA SOLE
BOSTON PROPERTIES INC MA COM 101121101 1,517 15,015 SOLE NA SOLE
BRE PROPERTIES INC CL A COM 05564E106 1,734 35,628 SOLE NA SOLE
BRIDGE CAP HLDGS COM COM 108030107 162 10,662 SOLE NA SOLE
BROADCOM CORP CL A COM 111320107 319 9,186 SOLE NA SOLE
BROCADE COMMUNICATIONS SY COM 111621306 82 14,234 SOLE NA SOLE
BRUNSWICK CORP COM COM 117043109 477 13,949 SOLE NA SOLE
BSB BANCORP INC/MA COM 05573H108 477 34,544 SOLE NA SOLE
CADENCE DESIGN SYS INC CO COM 127387108 235 16,850 SOLE NA SOLE
CAMERON INTL CORP COM COM 13342B105 5,866 89,966 SOLE NA SOLE
CAPE BANCORP INC COM COM 139209100 414 45,239 SOLE NA SOLE
CAPLEASE INC REIT COM 140288101 510 80,000 SOLE NA SOLE
CARDINAL FINL CORP COM COM 14149F109 475 26,113 SOLE NA SOLE
CARRIZO OIL & GAS INC COM COM 144577103 3,479 135,000 SOLE NA SOLE
CATERPILLAR INC COM COM 149123101 466 5,363 SOLE NA SOLE
CENOVUS ENRG COM 15135U109 3,099 100,000 SOLE NA SOLE
CENTRAL PAC FINL CORP COM COM 154760409 554 35,290 SOLE NA SOLE
CFS BANCORP INC COM COM 12525D102 170 21,234 SOLE NA SOLE
CHARTER FINANCIAL CORP W COM 16122W108 326 25,474 SOLE NA SOLE
CHESAPEAKE LODGING TRUST COM 165240102 994 43,346 SOLE NA SOLE
CHICOPEE BANCORP COM 168565109 632 37,412 SOLE NA SOLE
CHUBB CORP COM COM 171232101 1,358 15,514 SOLE NA SOLE
CIENA CORP COM COM 171779309 1,420 88,690 SOLE NA SOLE
CINEMARK HOLDINGS INC COM 17243V102 520 17,680 SOLE NA SOLE
CISCO SYSTEMS INC COM COM 17275R102 576 27,579 SOLE NA SOLE
CITIGROUP INC COM COM 172967424 889 20,105 SOLE NA SOLE
CITIZENS REP BANCORP INC COM 174420307 1,140 50,567 SOLE NA SOLE
CITRIX SYS INC COM COM 177376100 380 5,270 SOLE NA SOLE
CLIFTON SVGS BNK COM 18712Q103 313 25,153 SOLE NA SOLE
COBIZ FINANCIAL INC COM 190897108 790 97,713 SOLE NA SOLE
COLONIAL PROPERTIES TRUST COM 195872106 2,781 123,000 SOLE NA SOLE
COLUMBIA BKG SYS INC COM COM 197236102 659 30,000 SOLE NA SOLE
COMMUNITY HEALTH SYSTEMS COM 203668108 450 9,489 SOLE NA SOLE
COMMUNITY NATIONAL BANK COM 20375W104 93 11,600 SOLE NA SOLE
COMPUWARE CORP COM COM 205638109 734 58,733 SOLE NA SOLE
CONSTANT CONTACT INC COM COM 210313102 438 33,779 SOLE NA SOLE
COPANO ENERGY LLC COM 217202100 10,166 250,894 SOLE NA SOLE
COPART INC COM COM 217204106 512 14,941 SOLE NA SOLE
CORELOGIC COM 21871D103 224 8,664 SOLE NA SOLE
CORNING INC COM COM 219350105 395 29,656 SOLE NA SOLE
CORRECTIONS CORP AMER NEW COM 22025Y407 496 12,698 SOLE NA SOLE
CU BANCORP COM STK COM 126534106 261 20,075 SOLE NA SOLE
CUBESMART COM COM 229663109 2,425 153,487 SOLE NA SOLE
CURTISS WRIGHT CORP COM COM 231561101 486 13,994 SOLE NA SOLE
CVS CAREMARK CORP COM COM 126650100 454 8,251 SOLE NA SOLE
DDR CORP COM COM 23317H102 2,992 171,737 SOLE NA SOLE
DUKE REALTY CORP COM COM 264411505 2,369 139,501 SOLE NA SOLE
EAGLE BANCORP INC COM COM 268948106 673 30,733 SOLE NA SOLE
EASTERN VIRGINIA BANCSHAR COM 277196101 281 49,577 SOLE NA SOLE
EBAY INC COM COM 278642103 248 4,573 SOLE NA SOLE
EMC CORP MASS COM COM 268648102 750 31,386 SOLE NA SOLE
EMULEX CORP COM N COM 292475209 66 10,162 SOLE NA SOLE
ENERGY XXI BERMUDA LTD CO COM G10082140 3,000 110,212 SOLE NA SOLE
ENI SPA ROMA ADR COM 26874R108 4,938 110,000 SOLE NA SOLE
ENTERTAINMENT PROPERTIES COM 26884U109 2,849 54,735 SOLE NA SOLE
EOG RES INC COM COM 26875P101 2,561 20,000 SOLE NA SOLE
EQUINIX INC COM COM 29444U502 240 1,111 SOLE NA SOLE
EQUITY ONE INC COM COM 294752100 2,175 90,741 SOLE NA SOLE
ESSA BANCORP COM 29667D104 449 41,461 SOLE NA SOLE
EVANS BANCORP INC COM COM 29911Q208 353 19,511 SOLE NA SOLE
EXPEDITORS INTL WASH INC COM 302130109 450 12,585 SOLE NA SOLE
FEDERAL REALTY INVESTMENT COM 313747206 2,593 24,000 SOLE NA SOLE
FIRST DEFIANCE FINANCIAL COM 32006W106 821 35,225 SOLE NA SOLE
FIRST FNL NW INC COM 32022K102 343 43,964 SOLE NA SOLE
FIRST MIDWEST BANCORP INC COM 320867104 609 45,824 SOLE NA SOLE
FIRST NIAGARA FINL GROUP COM 33582V108 443 50,000 SOLE NA SOLE
FIRST SEC GROUP INC COM COM 336312202 125 47,490 SOLE NA SOLE
FLAGSTAR BANCORP INC BLO COM 337930705 279 20,000 SOLE NA SOLE
FLOWSERVE CORP COM COM 34354P105 492 2,931 SOLE NA SOLE
FOOT LOCKER INC COM COM 344849104 503 14,690 SOLE NA SOLE
FORBES ENERGY SERVICES LT COM 345143101 792 215,145 SOLE NA SOLE
FOX CHASE BANCORP INC C COM 35137T108 879 52,041 SOLE NA SOLE
FRST CNT BNCP COM 319850103 221 15,000 SOLE NA SOLE
FULTON FINL CORP PA COM COM 360271100 510 43,577 SOLE NA SOLE
GOODYEAR TIRE & RUBR CO C COM 382550101 467 37,076 SOLE NA SOLE
GUARANTY BANCORP COM COM 40075T102 108 51,421 SOLE NA SOLE
HALCON RES CORP COM STK COM 40537Q209 780 100,067 SOLE NA SOLE
HALLIBURTON CO COM COM 406216101 6,264 155,000 SOLE NA SOLE
HAMILTON BANCORP COM 407015106 233 16,936 SOLE NA SOLE
HAMPDEN BANCORP INC COM COM 40867E107 673 41,987 SOLE NA SOLE
HANMI FINL CORP COM COM 410495204 884 55,253 SOLE NA SOLE
HEALTHCARE REALTY TRUST C COM 421946104 1,078 37,971 SOLE NA SOLE
HERCULES TECHNOLOGY GROWT COM 427096508 490 40,000 SOLE NA SOLE
HERITAGE COMM CORP COM COM 426927109 520 77,255 SOLE NA SOLE
HERITAGE FINANCIAL GROUP COM 42726X102 365 25,227 SOLE NA SOLE
HIGHWOODS PROPERTIES INC COM 431284108 1,421 35,918 SOLE NA SOLE
HLTHCR TR OF AMR COM 42225P105 1,985 168,956 SOLE NA SOLE
HOLLYFRONTIER CORP COM COM 436106108 1,929 37,500 SOLE NA SOLE
HOME BANCORP INC COM 43689E107 634 34,057 SOLE NA SOLE
HOME PROPERTIES INC COM COM 437306103 1,903 30,000 SOLE NA SOLE
HOME TRST BNCSHR COM 437872104 320 20,247 SOLE NA SOLE
HOST HOTELS & RESORTS INC COM 44107P104 1,487 84,999 SOLE NA SOLE
HSN INC COM 404303109 482 8,793 SOLE NA SOLE
HUDSON PACIFIC PROPERTIES COM 444097109 221 10,165 SOLE NA SOLE
ICONIX BRAND GROUP INC COM 451055107 535 20,663 SOLE NA SOLE
IDEXX LABS INC COM COM 45168D104 416 4,508 SOLE NA SOLE
INFINERA CORP COM 45667G103 548 78,295 SOLE NA SOLE
INGREDION INC COM STK COM 457187102 462 6,394 SOLE NA SOLE
INTUITIVE SURGICAL INC COM 46120E602 395 804 SOLE NA SOLE
ISHARES DJ US OIL EQUIP & COM 464288844 16,927 295,000 SOLE NA SOLE
ISHARES S^P PREF STK INDX COM 464288687 6,095 150,420 SOLE NA SOLE
JDS UNIPHASE CORP COM COM 46612J507 1,336 99,953 SOLE NA SOLE
JIVE SOFTWARE INC COM 47760A108 418 27,500 SOLE NA SOLE
KCAP FINANCIAL INC COM S COM 48668E101 539 50,028 SOLE NA SOLE
KELLOGG CO COM COM 487836108 448 6,961 SOLE NA SOLE
KEY ENERGY SERVICES INC C COM 492914106 257 31,800 SOLE NA SOLE
KILROY REALTY CORPORATION COM 49427F108 2,406 45,920 SOLE NA SOLE
KINDER MORGAN ENERGY PART COM 494550106 6,284 70,000 SOLE NA SOLE
KLA-TENCOR CORP COM COM 482480100 234 4,430 SOLE NA SOLE
LAKELAND BANCORP INC COM COM 511637100 546 55,399 SOLE NA SOLE
LAKELAND FINL CORP COM COM 511656100 267 10,007 SOLE NA SOLE
LIBERTY PROPERTY TRUST CO COM 531172104 2,573 64,739 SOLE NA SOLE
LSI CORPORATION COM COM 502161102 445 65,562 SOLE NA SOLE
LYONDELLBASELL INDUSTRIES COM N53745100 7,753 122,501 SOLE NA SOLE
M D C HLDGS INC MEDIUM TE COM 552676108 458 12,503 SOLE NA SOLE
MARKET VECTORS GOLD MINER COM 57060U100 9,304 245,806 SOLE NA SOLE
MARRIOT VACATIONS WORLD COM 57164Y107 485 11,302 SOLE NA SOLE
MARRIOTT INTERNATIONAL IN COM 571903202 3,027 71,687 SOLE NA SOLE
MB FINANCIAL INC COM 55264U108 439 18,158 SOLE NA SOLE
MEAD JOHNSON NUTRITION CO COM 582839106 464 5,993 SOLE NA SOLE
MEDLEY CAPITAL COM 58503F106 405 25,561 SOLE NA SOLE
MERIDIAN INTERSTATE BANCO COM 58964Q104 425 22,667 SOLE NA SOLE
METRO BANCORP INC PA CO COM 59161R101 683 41,309 SOLE NA SOLE
METROCORP BANCSHARES INC COM 591650106 709 70,297 SOLE NA SOLE
METROPCS COMMUNICATIONS I COM 591708102 436 40,000 SOLE NA SOLE
MGIC INVT CORP COM COM 552848103 520 105,000 SOLE NA SOLE
MICROSTRATEGY INC COM COM 594972408 665 6,576 SOLE NA SOLE
MOHAWK INDS INC COM COM 608190104 484 4,278 SOLE NA SOLE
MOLINA HEALTHCARE INC COM COM 60855R100 390 12,626 SOLE NA SOLE
MONSTER BEVERAGE CORP COM COM 611740101 444 9,303 SOLE NA SOLE
NABORS INDUSTRIES LTD COM COM G6359F103 2,840 175,080 SOLE NA SOLE
NAUGATUCK VY FINL CORP CO COM 63906P107 143 20,427 SOLE NA SOLE
NETFLIX INC COM COM 64110L106 500 2,643 SOLE NA SOLE
NEUSTAR INC CL A COM 64126X201 237 5,093 SOLE NA SOLE
NEW MOUNTAIN GUARDIAN COR COM 647551100 513 35,056 SOLE NA SOLE
NEWBRIDGE BANCRP COM 65080T102 281 47,695 SOLE NA SOLE
NEWCASTLE INVT CORP NEW C COM 65105M108 1,120 100,239 SOLE NA SOLE
NOBLE CORPORATION COM COM H5833N103 1,335 35,000 SOLE NA SOLE
NORDSTROM INC COM COM 655664100 493 8,920 SOLE NA SOLE
NORTH VY BANCORP COM COM 66304M204 1,329 75,061 SOLE NA SOLE
NORTHEAST COMMUNITY BANCO COM 664112109 137 25,103 SOLE NA SOLE
NORTHERN OIL AND GAS COM COM 665531109 4,390 305,270 SOLE NA SOLE
NORTHSTAR RLTY FIN C COM 66704R100 904 95,368 SOLE NA SOLE
NQ MOBILE INC ADR COM 64118U108 135 15,000 SOLE NA SOLE
OCCIDENTAL PETE CORP COM 674599105 15,471 197,409 SOLE NA SOLE
OCEAN SHORE HOLDING CO CO COM 67501R103 720 48,013 SOLE NA SOLE
OFS CAPITAL CORP COM 67103B100 497 35,471 SOLE NA SOLE
OLD DOMINION FREIGHT LINE COM 679580100 510 13,357 SOLE NA SOLE
OMEGA HEALTHCARE INVESTOR COM 681936100 1,063 35,000 SOLE NA SOLE
OMNIAMERICAN BANCORP INC COM 68216R107 796 31,478 SOLE NA SOLE
OMNICARE INC COM COM 681904108 439 10,784 SOLE NA SOLE
ORACLE CORP COM COM 68389X105 726 22,466 SOLE NA SOLE
ORITANI FINANCIAL CORP COM 68633D103 579 37,390 SOLE NA SOLE
PACIFIC PREMIER BANCORP C COM 69478X105 1,215 92,378 SOLE NA SOLE
PBF ENERGY INC COM 69318G106 1,859 50,000 SOLE NA SOLE
PENN VA CORP COM COM 707882106 808 200,000 SOLE NA SOLE
PENNANTPARK FLOATING CAPI COM 70806A106 698 50,000 SOLE NA SOLE
PEOPLE FED BANC COM 711037101 420 21,994 SOLE NA SOLE
PETSMART INC COM COM 716768106 483 7,773 SOLE NA SOLE
PHOTRONICS INC COM COM 719405102 101 15,133 SOLE NA SOLE
PLAINS EXPLORATION & PROD COM 726505100 14,272 300,660 SOLE NA SOLE
PLEXUS CORP COM COM 729132100 232 9,533 SOLE NA SOLE
POPULAR INC COM COM 733174700 557 20,190 SOLE NA SOLE
POST PROPERTIES INC COM COM 737464107 2,120 45,000 SOLE NA SOLE
PROLOGIS INC COM COM 74340W103 2,643 66,111 SOLE NA SOLE
PROVIDENT FINANCIAL HOLDI COM 743868101 510 30,000 SOLE NA SOLE
PULTE GROUP INC COM COM 745867101 493 24,367 SOLE NA SOLE
QUALCOMM INC COM COM 747525103 508 7,582 SOLE NA SOLE
RACKSPACE HOSTING INC COM 750086100 221 4,383 SOLE NA SOLE
RADIAN GROUP INC COM COM 750236101 534 49,873 SOLE NA SOLE
RAYMOND JAMES FINL INC CO COM 754730109 922 20,000 SOLE NA SOLE
REALTY INCOME CORP COM COM 756109104 2,082 45,905 SOLE NA SOLE
RED HAT INC COM COM 756577102 233 4,604 SOLE NA SOLE
REGENERON PHARMACEUTICALS COM 75886F107 423 2,396 SOLE NA SOLE
REGIONS FINANCIAL CORP COM 7591EP100 814 99,396 SOLE NA SOLE
RENASANT CORP COM COM 75970E107 672 30,020 SOLE NA SOLE
REPUBLIC SVCS INC COM COM 760759100 504 15,258 SOLE NA SOLE
RESPONSYS INCCOM STK COM 761248103 177 19,997 SOLE NA SOLE
REYNOLDS AMERN INC COM COM 761713106 445 9,995 SOLE NA SOLE
RF MICRO DEVICES INC COM COM 749941100 92 17,316 SOLE NA SOLE
RIVERBED TECH INC COM 768573107 595 39,883 SOLE NA SOLE
RLJ LODGING TRUST COM 74965L101 2,651 116,481 SOLE NA SOLE
ROWAN COMPANIES INC HOUS COM G7665A101 2,298 65,000 SOLE NA SOLE
ROYAL DUTCH SHELL PLC ADR COM 780259206 6,190 95,000 SOLE NA SOLE
RYMAN HOSPITALITY PROPE COM 78377T107 2,562 56,000 SOLE NA SOLE
SANCHEZ ENERGY CORP COM 79970Y105 996 50,000 SOLE NA SOLE
SBA COMMUNICATIONS CORP C COM 78388J106 728 10,109 SOLE NA SOLE
SCBT FINANCIAL CORP COM COM 78401V102 504 9,992 SOLE NA SOLE
SCHLUMBERGER USD.01 COM COM 806857108 2,996 40,000 SOLE NA SOLE
SENIOR HOUSING PROPERTIES COM 81721M109 1,879 70,028 SOLE NA SOLE
SI FINL GROUP INC COM COM 78425V104 365 30,226 SOLE NA SOLE
SIMON PROPERTY GROUP INC COM 828806109 2,212 13,950 SOLE NA SOLE
SIMPLICITY BANCORP INC CO COM 828867101 406 27,000 SOLE NA SOLE
SL GREEN REALTY CORPORATI COM 78440X101 1,505 17,472 SOLE NA SOLE
SM ENERGY CO COM 78454L100 9,707 163,912 SOLE NA SOLE
SOLAR CAPITAL LTD COM 83413U100 474 20,188 SOLE NA SOLE
SOUTHERN NATL BANCOR OF V COM 843395104 499 51,539 SOLE NA SOLE
SOUTHWEST BANCORP INC OKL COM 844767103 1,027 81,796 SOLE NA SOLE
SOVRAN SELF STORAGE INC C COM 84610H108 2,878 44,621 SOLE NA SOLE
SP BANCORP INC COM 78468K106 453 24,509 SOLE NA SOLE
SPRINT NEXTEL CORP COM 852061100 319 51,379 SOLE NA SOLE
STANDARD FINANCIAL CORP COM 853393106 213 10,907 SOLE NA SOLE
STATE BK & TR CO PINEHURS COM 856190103 455 27,796 SOLE NA SOLE
STERLING BANCORP COM COM 859158107 524 51,596 SOLE NA SOLE
STERLING FINL CORP WASH C COM 859319303 598 27,552 SOLE NA SOLE
STLS CAPT INVEST COM 858568108 445 30,000 SOLE NA SOLE
SUFFOLK BANCORP COM COM 864739107 972 68,290 SOLE NA SOLE
SUNCOR ENERGY INC COM COM 867224107 6,750 224,910 SOLE NA SOLE
SUNSTONE HOTEL INVES COM 867892101 1,683 136,709 SOLE NA SOLE
SUNTRUST BKS INC COM COM 867914103 1,152 40,000 SOLE NA SOLE
SUSQUEHANNA BANCSHARES IN COM 869099101 564 45,360 SOLE NA SOLE
SWIFT ENERGY CO COM COM 870738101 7,405 500,000 SOLE NA SOLE
SWIFT ENERGY CO COM COM 870738101 7,405 500,000 SOLE NA SOLE
SYNOVUS FINL CORP COM COM 87161C105 520 187,546 SOLE NA SOLE
TAUBMAN CTRS INC COM COM 876664103 1,553 20,000 SOLE NA SOLE
TCP CAPITAL CORP COM 87238Q103 400 25,054 SOLE NA SOLE
TD AMERITRADE HLDG CORP C COM 87236Y108 515 24,979 SOLE NA SOLE
TECHNE CORP COM COM 878377100 416 6,130 SOLE NA SOLE
TECHNOLOGY INVT CAP CORP COM 87244T109 647 65,032 SOLE NA SOLE
TERADATA CORP COM 88076W103 236 4,025 SOLE NA SOLE
TERADYNE INC COM COM 880770102 410 25,283 SOLE NA SOLE
TERRENO REALTY CORP COM 88146M101 461 25,652 SOLE NA SOLE
TERRITORIAL BANCORP INC COM 88145X108 482 20,280 SOLE NA SOLE
TESORO CORP COM COM 881609101 1,171 20,000 SOLE NA SOLE
TEXAS CAP BANCSHARES INC COM 88224Q107 1,096 27,107 SOLE NA SOLE
THE HOWARD HUGHS COM 44267D107 2,682 32,000 SOLE NA SOLE
THE RYLAND GROUP INC COM COM 783764103 531 12,748 SOLE NA SOLE
THL CREDIT INC COM 872438106 602 40,202 SOLE NA SOLE
TOTAL SA ADR COM 89151E109 5,278 110,000 SOLE NA SOLE
TRANSCANADA CORP COM COM 89353D107 4,831 100,878 SOLE NA SOLE
TRANSOCEAN LTD COM H8817H100 3,377 65,000 SOLE NA SOLE
ULTRATECH INC COM COM 904034105 229 5,786 SOLE NA SOLE
UNITED CMNTY BK BLAIRSVIL COM 90984P303 688 60,687 SOLE NA SOLE
UNITED NAT FOODS INC COM COM 911163103 431 8,762 SOLE NA SOLE
URBAN OUTFITTERS INC COM COM 917047102 446 11,510 SOLE NA SOLE
VALERO ENERGY CORP COM COM 91913Y100 4,549 100,000 SOLE NA SOLE
VALMONT INDUSTRIES INC. C COM 920253101 476 3,027 SOLE NA SOLE
VITAMIN SHOPPE INC COM 92849E101 462 9,451 SOLE NA SOLE
VORNADO REALTY TRUST COM COM 929042109 2,760 33,000 SOLE NA SOLE
WABTEC COM COM 929740108 498 4,878 SOLE NA SOLE
WASHINGTON BANKING CO COM COM 937303105 344 24,688 SOLE NA SOLE
WASHINGTON REAL ESTATE IN COM 939653101 2,947 105,859 SOLE NA SOLE
WEBSTER FINL CORP WATERBU COM 947890109 1,225 50,483 SOLE NA SOLE
WEINGARTEN REALTY INVESTO COM 948741103 2,504 79,356 SOLE NA SOLE
WESTERN ALLIANCE BANCORP COM 957638109 869 62,795 SOLE NA SOLE
WHIRLPOOL CORP COM 963320106 480 4,049 SOLE NA SOLE
WHITE HORSE FINANCE COM 96524V106 369 23,319 SOLE NA SOLE
WHITING PETROLEUM CORP CO COM 966387102 3,050 60,000 SOLE NA SOLE
WHOLE FOODS MKT INC COM COM 966837106 435 5,009 SOLE NA SOLE
WILLIAMS PARTNERS LPTULSA COM 96950F104 1,036 20,000 SOLE NA SOLE
WYNDHAM WORLDWIDE CORP COM 98310W108 3,134 48,599 SOLE NA SOLE
XILINX INC COM COM 983919101 274 7,184 SOLE NA SOLE
YADKIN VY BK & TR CO ELKI COM 984314104 262 65,414 SOLE NA SOLE
ZAIS FINANCIAL CORP COM COM 98886K108 1,032 50,033 SOLE NA SOLE
ZIONS BANCORPORATION COM COM 989701107 868 34,739 SOLE NA SOLE