Independence Capital Asset Partners

Companies in the Independence Capital Asset Partners portfolio as of March 2012 quarter

                FORM 13F INFORMATION TABLE
                                                           VALUE   SHARES/  SH/ PUT/ INVSTMT    OTHER          VOTING AUTHORITY
        NAME OF ISSUER          TITLE OF CLASS    CUSIP   (x$1000) PRN AMT  PRN CALL DSCRETN   MANAGERS     SOLE    SHARED    NONE
------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
{S}                            {C}              {C}       {C}      {C}      {C} {C}  {C}     {C}          {C}      {C}      {C}
ACTIVE NETWORK INC COM         COM              00506d100      690         41000 SH       Sole                    41000
ADVANCE AUTO PARTS INC         COM              00751Y106      439          4955 SH       Sole                     4955
ALLISON TRANSMISSION H COM     COM              01973R101     7561        316609 SH       Sole                   316609
AMAZON COM INC COM             COM              023135106     2929         14465 SH       Sole                    14465
ANADARKO PETROLEUM CORP        COM              032511107    20827        265856 SH       Sole                   265856
APPLE COMPUTER INC COM         COM              037833100    20661         34466 SH       Sole                    34466
ASTEC INDUSTRIES INC           COM              046224101      675         18500 SH       Sole                    18500
ATWOOD OCEANICS INC            COM              050095108     6970        155266 SH       Sole                   155266
Allot Communications           COM              M0854Q105      349         15000 SH       Sole                    15000
BLACK DIAMOND INC COM          COM              09202g101      157         17000 SH       Sole                    17000
BROOKDALE SR LIVING COM        COM              112463104      475         25394 SH       Sole                    25394
CAPITAL ONE FINL CORP COM      COM              14040h105    16393        294092 SH       Sole                   294092
CARPENTER TECHNOLOGY COM       COM              144285103     1063         20359 SH       Sole                    20359
CELGENE CORP COM               COM              151020104    10776        139003 SH       Sole                   139003
CEVA INC COM                   COM              157210105      403         17745 SH       Sole                    17745
CHARTER COMMUNICATION-A        COM              16117M305    15221        239886 SH       Sole                   239886
CITIGROUP INC                  COM              172967424    14257        390079 SH       Sole                   390079
COMVERSE TECHNOLOGY COM PAR $0 COM              205862402      329         47824 SH       Sole                    47824
CSX CORP                       COM              126408103     4259        197890 SH       Sole                   197890
DAVITA INC                     COM              23918K108    25623        284160 SH       Sole                   284160
EDWARDS LIFESCIENCES COM       COM              28176e108    10810        148630 SH       Sole                   148630
FOOT LOCKER INC COM            COM              344849104     8756        282010 SH       Sole                   282010
GOOGLE INC CL A                COM              38259p508    15660         24421 SH       Sole                    24421
GRACO INC COM                  COM              384109104      531         10000 SH       Sole                    10000
HARMAN INTL INDS INC COM       COM              413086109      421          9000 SH       Sole                     9000
HARRY WINSTON DIAMOND COM      COM              41587b100      601         40879 SH       Sole                    40879
HAYNES INTERNATL INC COM NEW   COM              420877201      887         14000 SH       Sole                    14000
HOMEAWAY INC                   COM              43739Q100      329         13000 SH       Sole                    13000
Hertz Global Holdings          COM              42805t105     3471        230807 SH       Sole                   230807
IMAX CORP                      COM              45245E109      829         33905 SH       Sole                    33905
LENDER PROCESSING SVCS COM     COM              52602e102     5145        197889 SH       Sole                   197889
LEVEL 3 COMMUNICTIONS COM NEW  COM              52729N308     6364        247351 SH       Sole                   247351
LIBERTY GLOBAL INC COM SER A   COM              530555101     9817        196035 SH       Sole                   196035
LIBERTY MEDIA CORP NEW INT COM COM              53071m104    10808        566155 SH       Sole                   566155
LIBERTY MEDIA HLDG CRP CAP COM COM              530322106    52130        591383 SH       Sole                   591383
LOWES COS INC COM              COM              548661107    14507        462290 SH       Sole                   462290
MA COM TECH SOLUTIONS COM      COM              55405Y100      311         15000 SH       Sole                    15000
MAKEMYTRIP LIMITED SHS         COM              v5633w109      367         16000 SH       Sole                    16000
MANNING & NAPIER INC CL A      COM              56382q102      397         26980 SH       Sole                    26980
MARTHA STEWART LIVING OMNIMEDI COM              573083102      381        100000 SH       Sole                   100000
MEDIVATION INC COM             COM              58501n101     8219        110002 SH       Sole                   110002
MILLENNIAL MEDIA, INC          COM              60040N105     3282        139650 SH       Sole                   139650
MITEK SYSTEMS INC              COM              606710200      128         11000 SH       Sole                    11000
NETSUITE INC COM               COM              64118q107     7229        143751 SH       Sole                   143751
NETWORK APPLIANCE INC COM      COM              64110d104     4376         97750 SH       Sole                    97750
NIKE INC                       COM              654106103     8060         74324 SH       Sole                    74324
NOVO-NORDISK A/S ADRADR CMN    COM              670100205     9353         67429 SH       Sole                    67429
NUVASIVE, INC. CMN             COM              670704105     5935        352420 SH       Sole                   352420
OCEAN RIG UDW INC              COM              Y64354205      337         19974 SH       Sole                    19974
OCH ZIFF CAP MGMT GRP CL A     COM              67551u105     4970        535508 SH       Sole                   535508
OCWEN FINL CORP COM NEW        COM              675746309    10377        663946 SH       Sole                   663946
ORIENT-EXPRESS HOTELS CL A     COM              g67743107     1012         99239 SH       Sole                    99239
OWENS CORNING CMN              COM              690742101     9680        268664 SH       Sole                   268664
PERKINELMER INC COM            COM              714046109      504         18204 SH       Sole                    18204
PULTE HOMES INCCMN             COM              745867101      381         43000 SH       Sole                    43000
QUALCOMM INCCMN                COM              747525103    18320        269329 SH       Sole                   269329
REGAL-BELOIT CORP              COM              758750103     1112         16970 SH       Sole                    16970
SALLY BEAUTY HLDGS INC COM     COM              79546e104     8481        341994 SH       Sole                   341994
SCHWAB CHARLES CP NEW COM      COM              808513105     3555        247361 SH       Sole                   247361
SOLAZYME INC                   COM              83415T101     4489        306833 SH       Sole                   306833
SPX CORP COM                   COM              784635104      465          6000 SH       Sole                     6000
STATE STREET CORP              COM              857477103    12972        285110 SH       Sole                   285110
Spirit Aerosystems             COM              848574109    13811        564637 SH       Sole                   564637
TANGOE INC                     COM              87582Y108     3802        202130 SH       Sole                   202130
THRESHOLD PHARMACEUTICALS      COM              885807206      860         97729 SH       Sole                    97729
TORNIER N V SHS                COM              n87237108      482         18741 SH       Sole                    18741
TPC GROUP INC COM              COM              89236y104      221          5000 SH       Sole                     5000
TREX CO INC COM                COM              89531P105      674         21000 SH       Sole                    21000
TRIPADVISOR INC                COM              896945201    11323        317443 SH       Sole                   317443
TRW AUTOMOTIVE HOLDINGS CORP.  COM              87264s106    11186        240826 SH       Sole                   240826
U S SILICA HLDGS INC COM       COM              90346E103      419         20000 SH       Sole                    20000
UNITEDHEALTH GROUP INCCMN      COM              91324p102     7272        123375 SH       Sole                   123375
VALERO ENERGY CORPORATIONCMN   COM              91913y100    10837        420516 SH       Sole                   420516
VERISK ANALYTICS INC CL A      COM              92345Y106     4708        100234 SH       Sole                   100234
WESTERN DIGITAL CORP COM       COM              958102105     8190        197880 SH       Sole                   197880
WILLIAMS PARTNERS L P COM UNIT COM              96950f104    18370        324616 SH       Sole                   324616
WILLIAMS SONOMA INC COM        COM              969904101     9271        247352 SH       Sole                   247352
WPX ENERGY INC COM             COM              98212b103     2625        145780 SH       Sole                   145780
WYNDHAM WORLDWIDE CORP COM     COM              98310w108     9204        197888 SH       Sole                   197888
ZIONS BANCORPORATION COM       COM              989701107      862         40194 SH       Sole                    40194