Stark Offshore Management

Stark Offshore Management as of Dec. 31, 2010

Portfolio Holdings for Stark Offshore Management

Stark Offshore Management holds 188 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 S&p 500 Etf (SPY) 21.9 $395M 3.1M 125.75
Chevron Corporation (CVX) 8.5 $153M 1.7M 91.25
Financial Select Sector SPDR (XLF) 4.4 $80M 5.0M 15.95
Six Flags Entertainment (SIX) 3.1 $57M 1.0M 54.40
Alcon 3.1 $56M 344k 163.40
Dollar Thrifty Automotive 2.7 $49M 1.0M 47.26
Wesco Intl Inc dbcv 6.000% 9/1 2.7 $48M 24k 2051.35
Netapp Inc note 1.750% 6/0 2.2 $40M 23k 1780.89
Hess (HES) 2.1 $39M 508k 76.54
iShares MSCI Brazil Index (EWZ) 2.0 $36M 470k 77.40
Bank of America Corporation (BAC) 1.9 $35M 2.6M 13.34
Exterran Hldgs Inc note 4.250% 6/1 1.9 $34M 27k 1245.49
SPDR Gold Trust (GLD) 1.8 $33M 235k 138.72
United Rentals Inc note 4.000%11/1 1.7 $30M 14k 2195.93
Industries N shs - a - (LYB) 1.6 $30M 858k 34.40
JPMorgan Chase & Co. (JPM) 1.6 $29M 689k 42.42
Holdings Inc Note 5.25 1.6 $29M 15k 1911.20
Virgin Media Inc note 6.500%11/1 1.5 $28M 17k 1657.80
iShares MSCI EAFE Index Fund (EFA) 1.5 $27M 470k 58.22
Cephalon Inc note 2.000% 6/0 1.5 $27M 19k 1405.59
Verisign Inc sdcv 3.250% 8/1 1.5 $27M 24k 1114.99
Allegheny Energy 1.4 $25M 1.0M 24.24
Terex Corp New note 4.000% 6/0 1.3 $24M 12k 2038.78
Sba Communications Corp note 4.000%10/0 1.3 $23M 15k 1494.07
E M C Corp Mass note 1.750%12/0 1.0 $18M 12k 1506.85
Health Care SPDR (XLV) 1.0 $18M 564k 31.50
Ford Motor Company (F) 0.9 $16M 950k 16.79
D R Horton Inc note 2.000% 5/1 0.9 $16M 14k 1134.23
Tyson Foods Inc note 3.250%10/1 0.9 $16M 13k 1222.17
General Motors Company (GM) 0.8 $15M 410k 36.86
Sandisk Corp note 1.500% 8/1 0.8 $13M 12k 1132.46
Health Care SPDR (XLV) 0.7 $13M 425k 31.50
EMC Corporation 0.7 $13M 581k 22.90
Citi 0.7 $12M 2.5M 4.73
Chemtura Corporation 0.6 $12M 721k 15.98
Mylan Inc note 3.750% 9/1 0.6 $12M 6.7k 1732.48
Globalstar (GSAT) 0.6 $11M 7.7M 1.45
International Coal Grp Inc N note 4.000% 4/0 0.6 $11M 7.1k 1528.70
Borgwarner Inc note 3.500% 4/1 0.6 $11M 4.8k 2232.00
EMC Corporation 0.5 $9.8M 428k 22.90
Textron Inc note 4.500% 5/0 0.5 $9.5M 5.0k 1900.00
Smurfit-stone Container Corp 0.5 $9.5M 373k 25.60
American Med Sys Hldgs Inc note 4.000% 9/1 0.5 $9.3M 7.6k 1221.77
Radian Group Inc note 3.000%11/1 0.5 $9.3M 9.5k 973.79
VMware 0.5 $8.4M 94k 88.91
Abbott Laboratories (ABT) 0.5 $8.1M 170k 47.89
Firstservice Corp sdcv 6.500%12/3 0.5 $8.2M 6.7k 1230.08
Gilead Sciences (GILD) 0.4 $7.9M 219k 36.24
Omnicare Inc note 3.750%12/1 0.4 $7.5M 6.8k 1112.15
Hartford Finl Svcs Wt Exp 0626 wt 0.4 $7.1M 398k 17.88
West Pharmaceutical Svsc Inc sdcv 4.000% 3/1 0.4 $6.9M 7.6k 913.82
Kohl's Corporation (KSS) 0.4 $6.6M 122k 54.34
MGIC Investment (MTG) 0.4 $6.5M 638k 10.19
Anadarko Petroleum Corporation 0.3 $5.9M 77k 76.16
SanDisk Corporation 0.3 $6.0M 120k 49.86
Virgin Media 0.3 $5.2M 190k 27.24
Temple-Inland 0.3 $5.0M 235k 21.24
Marathon Oil Corporation (MRO) 0.3 $4.9M 132k 37.03
MasterCard Incorporated (MA) 0.3 $4.7M 21k 224.11
Merck & Co (MRK) 0.3 $4.6M 129k 36.04
GameStop (GME) 0.2 $4.3M 188k 22.88
Consumer Staples Select Sect. SPDR (XLP) 0.2 $4.4M 149k 29.31
Del Monte Foods Company 0.2 $4.0M 211k 18.80
Cisco Systems (CSCO) 0.2 $3.8M 188k 20.23
Savient Pharmaceuticals 0.2 $3.7M 335k 11.14
Nucor Corporation (NUE) 0.2 $3.5M 80k 43.81
Lazard Ltd-cl A shs a 0.2 $3.2M 80k 39.49
Bank Of Montreal Cadcom (BMO) 0.2 $3.2M 55k 57.56
Zions Bancorporation *w exp 05/22/202 0.2 $3.3M 444k 7.35
Western Union Company (WU) 0.2 $3.1M 165k 18.57
Resolute Energy 0.2 $2.9M 194k 14.76
Alliance Data Systems Corporation (BFH) 0.1 $2.7M 38k 71.03
CKX 0.1 $2.5M 628k 4.03
BorgWarner (BWA) 0.1 $2.5M 35k 72.37
Republic Airways Holdings 0.1 $2.3M 321k 7.32
Technology SPDR (XLK) 0.1 $2.4M 94k 25.19
Microsoft Corporation (MSFT) 0.1 $2.2M 78k 27.91
Encana Corp 0.1 $2.1M 72k 29.28
Select Medical Holdings Corporation (SEM) 0.1 $2.1M 284k 7.31
Tower International 0.1 $2.2M 122k 17.69
Imperial Oil (IMO) 0.1 $2.0M 48k 40.83
Advantage Oil & Gas 0.1 $2.0M 290k 6.80
Best Buy (BBY) 0.1 $1.7M 49k 34.29
Sky mobi 0.1 $1.6M 307k 5.34
St. Joe Company (JOE) 0.1 $1.4M 66k 21.85
Goldcorp 0.1 $1.4M 31k 46.19
Ford Mtr Co Del *w exp 01/01/201 0.1 $1.5M 190k 8.07
General Electric Company 0.1 $1.3M 69k 18.29
Graham Packaging Company 0.1 $1.3M 99k 13.04
Hercules Offshore 0.1 $1.0M 292k 3.48
iShares Silver Trust (SLV) 0.1 $1.0M 34k 30.19
Mitel Networks Corp 0.1 $1.0M 185k 5.52
CapitalSource 0.1 $932k 131k 7.10
M.D.C. Holdings 0.0 $503k 18k 28.75
UQM Technologies 0.0 $465k 203k 2.29
Keryx Biopharmaceuticals 0.0 $405k 88k 4.58
Ryland 0.0 $327k 19k 17.03
E.I. du Pont de Nemours & Company 0.0 $379k 7.6k 49.89
Talbots 0.0 $415k 49k 8.53
Pacific Sunwear of California 0.0 $406k 75k 5.42
Orion Marine (ORN) 0.0 $295k 25k 11.62
Titan Machinery (TITN) 0.0 $402k 21k 19.28
Ceva (CEVA) 0.0 $299k 15k 20.47
Mesabi Trust (MSB) 0.0 $399k 10k 38.48
Technology SPDR (XLK) 0.0 $285k 11k 25.22
Limelight Networks 0.0 $408k 70k 5.81
Uranium Resources 0.0 $415k 122k 3.40
Uranium Energy (UEC) 0.0 $400k 66k 6.03
NaviSite 0.0 $425k 115k 3.71
Uranerz Energy Corporation Cmn 0.0 $441k 111k 3.99
Photronics (PLAB) 0.0 $224k 38k 5.90
OMNOVA Solutions 0.0 $226k 27k 8.35
Lannett Company 0.0 $92k 17k 5.56
Affymax (AFFY) 0.0 $250k 38k 6.66
China Sky One Medical 0.0 $94k 14k 6.98
Integrated Silicon Solution 0.0 $228k 28k 8.03
TeleCommunication Systems 0.0 $93k 20k 4.68
Abiomed 0.0 $225k 23k 9.63
American Oriental Bioengineering 0.0 $97k 40k 2.40
China Automotive Systems (CAAS) 0.0 $224k 17k 13.59
China Integrated Energy (CBEH) 0.0 $123k 17k 7.36
Fuel Systems Solutions 0.0 $266k 9.1k 29.36
Maidenform Brands 0.0 $222k 9.4k 23.72
Universal Insurance Holdings (UVE) 0.0 $92k 19k 4.85
Wonder Auto Technology 0.0 $213k 28k 7.55
SWS 0.0 $211k 42k 5.05
Clinical Data (CLDA) 0.0 $219k 14k 15.94
Callon Pete Co Del Com Stk 0.0 $93k 16k 5.94
Cytokinetics 0.0 $91k 43k 2.09
AgFeed Industries 0.0 $95k 33k 2.93
Powell Industries (POWL) 0.0 $233k 7.1k 32.87
ShengdaTech 0.0 $92k 19k 4.91
LeapFrog Enterprises 0.0 $223k 40k 5.54
Smith & Wesson Holding Corporation 0.0 $225k 60k 3.74
Abraxas Petroleum 0.0 $252k 55k 4.58
Warren Resources 0.0 $98k 22k 4.53
Bon-Ton Stores (BONTQ) 0.0 $146k 12k 12.65
Cray 0.0 $94k 13k 7.16
L&L Energy 0.0 $260k 24k 10.78
MELA Sciences 0.0 $247k 74k 3.34
Universal Travel 0.0 $153k 25k 6.13
Telestone Technologies Corporation (TSTC) 0.0 $238k 22k 10.63
China North East Petroleum Hldng 0.0 $95k 16k 5.78
CAI International 0.0 $233k 12k 19.57
Lihua International 0.0 $232k 21k 11.26
8x8 (EGHT) 0.0 $239k 100k 2.38
Kandi Technolgies 0.0 $175k 33k 5.28
Sonde Resources 0.0 $233k 64k 3.66
interCLICK 0.0 $91k 17k 5.36
EnteroMedics 0.0 $143k 47k 3.07
Mindspeed Technologies 0.0 $99k 16k 6.13
Orient Paper 0.0 $166k 26k 6.38
Puda Coal (PUDA) 0.0 $163k 11k 14.26
China Education Alliance 0.0 $217k 86k 2.53
PharmAthene 0.0 $248k 59k 4.23
pSivida 0.0 $93k 18k 5.08
Apricus Bioscience 0.0 $219k 63k 3.47
Longwei Petroleum Investment Hold 0.0 $98k 38k 2.58
Aastrom Biosciences 0.0 $214k 84k 2.56
Verso Paper 0.0 $36k 10k 3.45
Array BioPharma 0.0 $35k 12k 2.99
BigBand Networks 0.0 $39k 14k 2.78
Premiere Global Services 0.0 $85k 13k 6.78
Openwave Systems 0.0 $85k 40k 2.13
Ruth's Hospitality 0.0 $86k 19k 4.61
Cerus Corporation (CERS) 0.0 $51k 21k 2.47
HQ Sustainable Maritime Industries 0.0 $51k 11k 4.80
Martha Stewart Living Omnimedia 0.0 $89k 20k 4.43
Heckmann Corp *w exp 11/09/201 0.0 $41k 143k 0.29
China Natural Gas 0.0 $84k 15k 5.51
China Marine Food (CMFO) 0.0 $61k 11k 5.37
Hauppauge Digital (HAUP) 0.0 $23k 10k 2.24
NIVS IntelliMedia Technology 0.0 $52k 23k 2.27
SuperGen 0.0 $51k 19k 2.63
Vical Incorporated 0.0 $24k 12k 2.03
Celldex Therapeutics 0.0 $84k 21k 4.11
Nanosphere 0.0 $49k 11k 4.32
CAMAC Energy 0.0 $77k 39k 1.99
Inhibitex 0.0 $85k 33k 2.61
Zst Digital Networks (ZSTN) 0.0 $81k 12k 6.82
RXi Pharmaceuticals Corporation 0.0 $50k 19k 2.58
Netlist (NLST) 0.0 $52k 20k 2.57
Oncothyreon 0.0 $40k 12k 3.28
Glu Mobile 0.0 $43k 21k 2.07
SMTC Corporation 0.0 $41k 13k 3.19
Lucas Energy 0.0 $77k 33k 2.33
SinoHub (SIHI) 0.0 $79k 30k 2.60
EntreMed 0.0 $51k 10k 5.06