-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, P2gyXcbSRuuJV9lt+2PsqwCW7xF3ba7DiQu51QSw9lgeByohmoMJU/wkvwIACDxm kzhzoneqUR87Ha8UqGjnDw== 0000919574-08-004615.txt : 20080814 0000919574-08-004615.hdr.sgml : 20080814 20080814094738 ACCESSION NUMBER: 0000919574-08-004615 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20080630 FILED AS OF DATE: 20080814 DATE AS OF CHANGE: 20080814 EFFECTIVENESS DATE: 20080814 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PROSPECTOR PARTNERS LLC CENTRAL INDEX KEY: 0001080380 IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-04685 FILM NUMBER: 081015706 BUSINESS ADDRESS: STREET 1: 370 CHURCH STREET 2: STREET CITY: GUILFORD STATE: CT ZIP: 06437 MAIL ADDRESS: STREET 1: 370 CHURCH STREET 2: STREET CITY: GUILFORD STATE: CT ZIP: 06437 13F-HR 1 d904497_13f-hr.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F Cover Page Report for the Calendar Year or Quarter Ended June 30, 2008 Check here if Amendment: |_|; Amendment Number: ____ This Amendment (Check only one): |_| is a restatement |_| adds new holding entries. Institutional Manager Filing this Report: Name: Prospector Partners, LLC Address: 370 Church Street Guilford, CT 06437 13F File Number: 028-04685 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: John D. Gillespie Title: Managing Member Phone: (203) 458-1500 Signature, Place and Date of Signing: /s/ John D. Gillespie Guilford, CT August 14, 2008 - ----------------------- -------------------------- ---------------------- [Signature] [City, State] [Date] Report Type: (Check only one): [X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report). [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting managers(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) List of Other Managers Reporting for this Manager: NONE Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 5 Form 13F Information Table Entry Total: 350 Form 13F Information Table Value Total: $3,044,218 (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. No. Form 13F File Number Name 1. 028-00470 White Mountains Advisors LLC 2. 028-11122 Leucadia National Corporation 3. 028-13130 Lancashire Insurance Company Limited 4. 028-12599 Montpelier Re Holdings, Ltd. 5. 028-12951 OneBeacon Insurance Group, Ltd. ----------------------- ------------------------------------ FORM 13F INFORMATION TABLE Prospector Partners, LLC COLUMN 1 COLUMN 2 COLUMN 3 COLUMN COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 VALUE SHRS OR SH/ PUT/ INVSTMNT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (X$1000 PRN AMT PRN CALL DSCRETN MGRS SOLE SHARED NONE ABINGTON BANCORP INC COM 00350L109 2,076 227,640 SH SOLE NONE 227,640 ABITIBIBOWATER INC COM 003687100 1,114 119,423 SH SOLE 2,3,4,5 119,423 ABITIBIBOWATER INC COM 003687100 481 51,558 SH SHARED 1 51,558 AETNA INC NEW COM 00817Y108 13,229 326,400 SH SOLE NONE 326,400 AETNA INC NEW COM 00817Y108 1,597 39,400 SH SHARED 1 39,400 AFFILIATED MANAGERS GROUP COM 008252108 2,549 28,300 SH SOLE NONE 28,300 AFFILIATED MANAGERS GROUP COM 008252108 333 3,700 SH SHARED 1 3,700 ALCOA INC COM 013817101 23,242 652,500 SH SOLE 2,3,4,5 652,500 ALCOA INC COM 013817101 11,352 318,700 SH SHARED 1 318,700 AMDOCS LTD NOTE 0.500% 3/1 02342TAD1 19,723 20,125,000 PRN SOLE 2,3,4,5 20,125,000 AMDOCS LTD NOTE 0.500% 3/1 02342TAD1 11,638 11,875,000 SH SHARED 1 11,875,000 AMERICAN EAGLE OUTFITTERS NE COM 02553E106 345 25,300 SH SOLE NONE 25,300 AMERICAN WTR WKS CO INC NEW COM 030420103 2,666 120,200 SH SOLE NONE 120,200 AMERICAN WTR WKS CO INC NEW COM 030420103 561 25,300 SH SHARED 1 25,300 AMERICREDIT CORP COM 03060R101 6,349 736,500 SH SOLE NONE 736,500 AMERICREDIT CORP COM 03060R101 470 54,500 SH SHARED 1 54,500 AMERISAFE INC COM 03071H100 2,678 168,000 SH SOLE NONE 168,000 AMGEN INC NOTE 0.125% 2/0 031162AN0 45,965 50,650,000 PRN SOLE 2,3,4,5 50,650,000 AMGEN INC NOTE 0.125% 2/0 031162AN0 27,543 30,350,000 PRN SHARED 1 30,350,000 AMR CORP NOTE 4.500% 2/1 001765BB1 7,530 10,125,000 PRN SOLE 2,3,4,5 10,125,000 AMR CORP NOTE 4.500% 2/1 001765BB1 4,370 5,875,000 PRN SHARED 1 5,875,000 AON CORP COM 037389103 8,421 183,300 SH SOLE NONE 183,300 AON CORP COM 037389103 1,066 23,200 SH SHARED 1 23,200 AQUILA INC COM 03840P102 1,345 356,800 SH SOLE NONE 356,800 ARCH CAP GROUP LTD ORD G0450A105 4,649 70,100 SH SOLE NONE 70,100 ARCHER DANIELS MIDLAND CO NOTE 0.875% 2/1 039483AW2 35,370 35,150,000 PRN SOLE 2,3,4,5 35,150,000 ARCHER DANIELS MIDLAND CO NOTE 0.875% 2/1 039483AW2 17,962 17,850,000 PRN SHARED 1 17,850,000 ASSURANT INC COM 04621X108 14,359 217,700 SH SOLE NONE 217,700 ASSURANT INC COM 04621X108 2,190 33,200 SH SHARED 1 33,200 AUTOMATIC DATA PROCESSING IN COM 053015103 20,761 495,500 SH SOLE 2,3,4,5 495,500 AUTOMATIC DATA PROCESSING IN COM 053015103 9,553 228,000 SH SHARED 1 228,000 AXIS CAPITAL HOLDINGS SHS G0692U109 11,289 378,700 SH SOLE NONE 378,700 BANK OF AMERICA CORPORATION COM 060505104 625 26,176 SH SOLE NONE 26,176 BANKFINANCIAL CORP COM 06643P104 736 56,600 SH SOLE NONE 56,600 BANKFINANCIAL CORP COM 06643P104 299 23,000 SH SHARED 1 23,000 BARRICK GOLD CORP COM 067901108 55,469 1,219,100 SH SOLE 2,3,4,5 1,219,100 BARRICK GOLD CORP COM 067901108 26,786 588,700 SH SHARED 1 588,700 BERKLEY W R CORP COM 084423102 1,947 80,600 SH SOLE NONE 80,600 BERKSHIRE HATHAWAY INC DEL CL A 084670108 19,803 164 SH SOLE NONE 164 BERKSHIRE HATHAWAY INC DEL CL B 084670207 72,248 18,008 SH SOLE 2,3,4,5 18,008 BERKSHIRE HATHAWAY INC DEL CL B 084670207 20,882 5,205 SH SHARED 1 5,205 BEVERLY NATL CORP COM 088115100 495 25,000 SH SOLE NONE 25,000 BLOCK H & R INC COM 093671105 22,853 1,067,900 SH SOLE 2,3,4,5 1,067,900 BLOCK H & R INC COM 093671105 10,803 504,800 SH SHARED 1 504,800 BROOKLYN FEDERAL BANCORP INC COM 114039100 1,567 130,000 SH SOLE NONE 130,000 CACI INTL INC CL A 127190304 3,114 68,040 SH SOLE NONE 68,040 CACI INTL INC CL A 127190304 1,309 28,600 SH SHARED 1 28,600 CALPINE CORP COM NEW 131347304 76,814 3,404,892 SH SOLE 2,3,4,5 3,404,892 CALPINE CORP COM NEW 131347304 30,866 1,368,166 SH SHARED 1 1,368,166 CAPITOL FED FINL COM 14057C106 11,061 294,100 SH SOLE 2,3,4,5 294,100 CAPITOL FED FINL COM 14057C106 5,040 134,000 SH SHARED 1 134,000 CARNIVAL CORP DBCV 4/2 143658AV4 11,827 18,625,000 PRN SOLE 2,3,4,5 18,625,000 CARNIVAL CORP DBCV 4/2 143658AV4 7,223 11,375,000 PRN SHARED 1 11,375,000 CENTURY BANCORP INC CL A NON VTG 156432106 423 23,850 SH SOLE NONE 23,850 CHEVRON CORP NEW COM 166764100 3,045 30,718 SH SOLE 2,3,4,5 30,718 CHEVRON CORP NEW COM 166764100 1,268 12,791 SH SHARED 1 12,791 CHICOPEE BANCORP INC COM 168565109 2,467 191,957 SH SOLE NONE 191,957 CHURCH & DWIGHT INC COM 171340102 12,604 223,670 SH SOLE NONE 223,670 CHURCH & DWIGHT INC COM 171340102 3,595 63,800 SH SHARED 1 63,800 CIGNA CORP COM 125509109 6,898 194,900 SH SOLE NONE 194,900 CIGNA CORP COM 125509109 1,055 29,800 SH SHARED 1 29,800 CIMAREX ENERGY CO COM 171798101 33,560 481,700 SH SOLE 2,3,4,5 481,700 CIMAREX ENERGY CO COM 171798101 17,787 255,300 SH SHARED 1 255,300 CINCINNATI FINL CORP COM 172062101 12,589 495,627 SH SOLE 2,3,4,5 495,627 CINCINNATI FINL CORP COM 172062101 4,145 163,200 SH SHARED 1 163,200 CIT GROUP INC COM 125581108 609 89,500 CALL SOLE NONE 89,500 CMS ENERGY CORP NOTE 2.875% 12/0 125896AW0 8,487 7,200,000 PRN SOLE 2,3,4,5 7,200,000 CMS ENERGY CORP COM 125896100 9,561 641,700 SH SOLE NONE 641,700 CMS ENERGY CORP COM 125896100 1,338 89,800 SH SHARED 1 89,800 CMS ENERGY CORP NOTE 2.875% 12/0 125896AW0 4,479 3,800,000 PRN SHARED 1 3,800,000 COMERICA INC COM 200340107 513 20,000 CALL SOLE NONE 20,000 COCA COLA CO COM 191216100 11,462 220,500 SH SOLE 2,3,4,5 220,500 COCA COLA CO COM 191216100 5,312 102,200 SH SHARED 1 102,200 COCA COLA ENTERPRISES INC COM 191219104 2,550 147,400 SH SOLE 2,3,4,5 147,400 COCA COLA ENTERPRISES INC COM 191219104 1,083 62,600 SH SHARED 1 62,600 COMERICA INC COM 200340107 5,621 219,300 SH SOLE NONE 219,300 COMERICA INC COM 200340107 397 15,500 SH SHARED 1 15,500 COMMERCIAL METALS CO COM 201723103 264 7,000 SH SOLE 2,3,4,5 7,000 COMMERCIAL METALS CO COM 201723103 113 3,000 SH SHARED 1 3,000 CONNECTICUT BK&TR CO HART NE COM 207546102 575 101,686 SH SOLE NONE 101,686 CONOCOPHILLIPS COM 20825C104 6,966 73,800 SH SOLE 2,3,4,5 73,800 CONOCOPHILLIPS COM 20825C104 2,992 31,700 SH SHARED 1 31,700 CONSECO INC DBCV 3.500% 9/3 208464BH9 11,684 14,425,000 PRN SOLE 2,3,4,5 14,425,000 CONSECO INC DBCV 3.500% 9/3 208464BH9 6,946 8,575,000 PRN SHARED 1 8,575,000 COWEN GROUP INC COM 223621103 664 86,000 SH SOLE NONE 86,000 COWLITZ BANCORP LONGVIEW WAS COM 223767104 479 63,449 SH SOLE NONE 63,449 CRM HOLDINGS LTD COM G2554P103 1,016 301,487 SH SOLE NONE 301,487 DANVERS BANCORP INC COM 236442109 800 72,700 SH SOLE NONE 72,700 DELL INC COM 24702R101 661 30,200 SH SOLE NONE 30,200 DELL INC COM 24702R101 1,173 53,600 SH SHARED 1 53,600 DIAGEO P L C SPON ADR NEW 25243Q205 1,891 25,600 SH SOLE NONE 25,600 DIAGEO P L C SPON ADR NEW 25243Q205 3,863 52,300 SH SHARED 1 52,300 DISNEY WALT CO COM DISNEY 254687106 3,898 124,951 SH SOLE 2,3,4,5 124,951 DISNEY WALT CO COM DISNEY 254687106 1,709 54,762 SH SHARED 1 54,762 DOMINION RES INC VA NEW NOTE 2.125% 12/1 25746UAT6 2,725 2,125,000 PRN SOLE 2,3,4,5 2,125,000 DOMINION RES INC VA NEW NOTE 2.125% 12/1 25746UAT6 1,122 875,000 PRN SHARED 1 875,000 DOMTAR CORP COM 257559104 16,444 3,017,238 SH SOLE 2,3,4,5 3,017,238 DOMTAR CORP COM 257559104 6,740 1,236,641 SH SHARED 1 1,236,641 DPL INC COM 233293109 456 17,300 SH SOLE NONE 17,300 DU PONT E I DE NEMOURS & CO COM 263534109 66,574 1,552,200 SH SOLE 2,3,4,5 1,552,200 DU PONT E I DE NEMOURS & CO COM 263534109 31,061 724,200 SH SHARED 1 724,200 DYNEGY INC DEL CL A 26817G102 2,279 266,500 SH SOLE NONE 266,500 DYNEGY INC DEL CL A 26817G102 253 29,600 SH SHARED 1 29,600 EASTMAN KODAK CO NOTE 3.375% 10/1 277461BE8 33,699 35,755,000 PRN SOLE 2,3,4,5 35,755,000 EASTMAN KODAK CO NOTE 3.375% 10/1 277461BE8 20,052 21,275,000 PRN SHARED 1 21,275,000 EL PASO CORP COM 28336L109 6,661 306,400 SH SOLE 2,3,4,5 306,400 EL PASO CORP COM 28336L109 2,904 133,600 SH SHARED 1 133,600 EL PASO ELEC CO COM NEW 283677854 10,533 531,981 SH SOLE 2,3,4,5 531,981 EL PASO ELEC CO COM NEW 283677854 2,877 145,283 SH SHARED 1 145,283 EL PASO ENERGY CAP TR I PFD CV TR SECS 283678209 377 9,200 SH SOLE 2,3,4,5 9,200 EL PASO ENERGY CAP TR I PFD CV TR SECS 283678209 168 4,100 SH SHARED 1 4,100 ELECTRONIC DATA SYS NEW NOTE 3.875% 7/1 285661AF1 20,997 21,050,000 PRN SOLE 2,3,4,5 21,050,000 ELECTRONIC DATA SYS NEW NOTE 3.875% 7/1 285661AF1 9,227 9,250,000 PRN SHARED 1 9,250,000 EMPLOYERS HOLDINGS INC COM 292218104 9,559 461,800 SH SOLE 2,3,4,5 461,800 EMPLOYERS HOLDINGS INC COM 292218104 4,353 210,300 SH SHARED 1 210,300 ENCORE ACQUISITION CO COM 29255W100 23,264 309,400 SH SOLE 2,3,4,5 309,400 ENCORE ACQUISITION CO COM 29255W100 12,346 164,200 SH SHARED 1 164,200 ERP OPER LTD PARTNERSHIP NOTE 3.850% 8/1 26884AAV5 27,316 28,875,000 PRN SOLE 2,3,4,5 28,875,000 ERP OPER LTD PARTNERSHIP NOTE 3.850% 8/1 26884AAV5 15,254 16,125,000 PRN SHARED 1 16,125,000 ESSA BANCORP INC COM 29667D104 640 51,100 SH SOLE NONE 51,100 FBL FINL GROUP INC CL A 30239F106 1,469 73,900 SH SOLE NONE 73,900 FIFTH STREET FINANCE CORP COM 31678A103 2,991 290,700 SH SOLE NONE 290,700 FIFTH STREET FINANCE CORP COM 31678A103 431 41,900 SH SHARED 1 41,900 FIRST FED BANKSHARES INC DEL COM 32020V100 246 37,509 SH SOLE NONE 37,509 FLAGSTONE REINSURANCE HLDGS SHS G3529T105 1,072 90,900 SH SOLE NONE 90,900 FLEETWOOD ENTERPRISES INC SDCV 5.000% 12/1 339099AD5 571 600,000 PRN SOLE 2,3,4,5 600,000 FLEETWOOD ENTERPRISES INC SDCV 5.000% 12/1 339099AD5 381 400,000 PRN SHARED 1 400,000 FORTUNE BRANDS INC COM 349631101 8,968 143,700 SH SOLE 2,3,4,5 143,700 FORTUNE BRANDS INC COM 349631101 4,275 68,500 SH SHARED 1 68,500 FOX CHASE BANCORP COM 35137P106 3,494 340,500 SH SOLE 2,3,4,5 340,500 FOX CHASE BANCORP COM 35137P106 84 8,200 SH SHARED 1 8,200 FRANKLIN RES INC COM 354613101 15,718 171,500 SH SOLE NONE 171,500 FRANKLIN RES INC COM 354613101 2,163 23,600 SH SHARED 1 23,600 GALLAGHER ARTHUR J & CO COM 363576109 1,065 44,200 SH SOLE NONE 44,200 GENTEX CORP COM 371901109 790 54,700 SH SOLE NONE 54,700 GOLD FIELDS LTD NEW SPONSORED ADR 38059T106 26,807 2,119,100 SH SOLE 2,3,4,5 2,119,100 GOLD FIELDS LTD NEW SPONSORED ADR 38059T106 12,486 987,000 SH SHARED 1 987,000 GRAPHIC PACKAGING HLDG CO COM 388689101 3,372 1,669,400 SH SOLE 2,3,4,5 1,669,400 GRAPHIC PACKAGING HLDG CO COM 388689101 1,123 555,700 SH SHARED 1 555,700 GUARANTY BANCORP DEL COM 40075T102 1,829 507,990 SH SOLE NONE 507,990 GUARANTY BANCORP DEL COM 40075T102 6,993 1,942,381 SH SHARED 1 1,942,381 HAMPDEN BANCORP INC COM 40867E107 1,044 104,200 SH SOLE NONE 104,200 HANOVER INS GROUP INC COM 410867105 7,259 170,800 SH SOLE NONE 170,800 HARTFORD FINL SVCS GROUP INC COM 416515104 8,187 126,800 SH SOLE NONE 126,800 HEALTH MGMT ASSOC INC NEW NOTE 4.375% 8/0 421933AF9 11,108 11,150,000 PRN SOLE 2,3,4,5 11,150,000 HEALTH MGMT ASSOC INC NEW NOTE 4.375% 8/0 421933AF9 4,832 4,850,000 PRN SHARED 1 4,850,000 HERSHEY CO COM 427866108 6,955 212,160 SH SOLE 2,3,4,5 212,160 HERSHEY CO COM 427866108 3,898 118,900 SH SHARED 1 118,900 HESS CORP COM 42809H107 47,045 372,810 SH SOLE 2,3,4,5 372,810 HESS CORP COM 42809H107 19,805 156,942 SH SHARED 1 156,942 HUGOTON RTY TR TEX UNIT BEN INT 444717102 3,552 96,000 SH SOLE NONE 96,000 HUGOTON RTY TR TEX UNIT BEN INT 444717102 2,483 67,100 SH SHARED 1 67,100 IAMGOLD CORP COM 450913108 861 142,300 SH SOLE NONE 142,300 INTERACTIVE DATA CORP COM 45840J107 1,000 39,800 SH SOLE NONE 39,800 INTERNATIONAL SPEEDWAY CORP CL A 460335201 560 14,340 SH SOLE NONE 14,340 INTERNATIONAL SPEEDWAY CORP CL A 460335201 233 5,960 SH SHARED 1 5,960 INVESCO LTD SHS G491BT108 22,608 942,800 SH SOLE NONE 942,800 INVESCO LTD SHS G491BT108 2,542 106,000 SH SHARED 1 106,000 INVESTORS BANCORP INC COM 46146P102 2,344 179,500 SH SOLE 2,3,4,5 179,500 INVESTORS BANCORP INC COM 46146P102 1,015 77,700 SH SHARED 1 77,700 INVESTORS TITLE CO COM 461804106 468 9,657 SH SOLE NONE 9,657 INTL PAPER CO COM 460146103 4,448 190,900 SH SOLE 2,3,4,5 190,900 INTL PAPER CO COM 460146103 1,934 83,000 SH SHARED 1 83,000 JEFFERIES GROUP INC NEW COM 472319102 3,340 198,600 SH SOLE NONE 198,600 JEFFERIES GROUP INC NEW COM 472319102 456 27,100 SH SHARED 1 27,100 JETBLUE AIRWAYS CORP DBCV 3.750% 3/1 477143AC5 3,191 5,025,000 PRN SOLE 2,3,4,5 5,025,000 JETBLUE AIRWAYS CORP DBCV 3.750% 3/1 477143AC5 1,889 2,975,000 PRN SHARED 1 2,975,000 JOHNSON & JOHNSON COM 478160104 2,844 44,200 SH SOLE NONE 44,200 JOHNSON & JOHNSON COM 478160104 573 8,900 SH SHARED 1 8,900 JP MORGAN CHASE & CO COM 46625H100 2,391 69,700 SH SOLE NONE 69,700 JP MORGAN CHASE & CO COM 46625H100 371 10,800 SH SHARED 1 10,800 KEARNY FINL CORP COM 487169104 1,351 122,817 SH SOLE NONE 122,817 KEARNY FINL CORP COM 487169104 399 36,300 SH SHARED 1 36,300 KINROSS GOLD CORP COM NO PAR 496902404 859 36,400 SH SOLE NONE 36,400 KINROSS GOLD CORP COM NO PAR 496902404 534 22,600 SH SHARED 1 22,600 LEUCADIA NATL CORP COM 527288104 30,398 647,586 SH SOLE NONE 647,586 LEUCADIA NATL CORP COM 527288104 4,105 87,460 SH SHARED 1 87,460 LOEWS CORP COM 540424108 12,100 258,000 SH SOLE 2,3,4,5 258,000 LOEWS CORP COM 540424108 5,272 112,400 SH SHARED 1 112,400 LSB CORP COM 50215P100 922 60,500 SH SOLE NONE 60,500 MARATHON OIL CORP COM 565849106 12,661 244,100 SH SOLE 2,3,4,5 244,100 MARATHON OIL CORP COM 565849106 5,493 105,900 SH SHARED 1 105,900 MARSH & MCLENNAN COS INC COM 571748102 5,260 198,100 SH SOLE 2,3,4,5 198,100 MARSH & MCLENNAN COS INC COM 571748102 2,273 85,600 SH SHARED 1 85,600 MAX CAPITAL GROUP LTD SHS G6052F103 4,363 204,540 SH SOLE 2,3,4,5 204,540 MAX CAPITAL GROUP LTD SHS G6052F103 1,028 48,200 SH SHARED 1 48,200 MCMORAN EXPLORATION CO COM 582411104 1,401 50,900 SH SOLE 2,3,4,5 50,900 MCMORAN EXPLORATION CO COM 582411104 616 22,400 SH SHARED 1 22,400 M D C HLDGS INC COM 552676108 3,965 101,500 SH SOLE NONE 101,500 M D C HLDGS INC COM 552676108 516 13,200 SH SHARED 1 13,200 MEADWESTVACO CORP COM 583334107 1,449 60,800 SH SOLE 2,3,4,5 60,800 MEADWESTVACO CORP COM 583334107 577 24,200 SH SHARED 1 24,200 MEDTRONIC INC NOTE 1.500% 4/1 585055AL0 26,988 25,400,000 PRN SOLE 2,3,4,5 25,400,000 MEDTRONIC INC NOTE 1.500% 4/1 585055AL0 18,700 17,600,000 PRN SHARED 1 17,600,000 MERCK & CO INC COM 589331107 422 11,200 SH SOLE NONE 11,200 MERCK & CO INC COM 589331107 249 6,600 SH SHARED 1 6,600 MERCURY GENL CORP NEW COM 589400100 3,504 75,000 CALL SOLE NONE 75,000 MEREDITH CORP COM 589433101 27,424 969,400 SH SOLE 2,3,4,5 969,400 MEREDITH CORP COM 589433101 12,787 452,000 SH SHARED 1 452,000 METLIFE INC COM 59156R108 28,712 544,095 SH SOLE NONE 544,095 METLIFE INC COM 59156R108 4,591 87,000 SH SHARED 1 87,000 MICROSOFT CORP COM 594918104 1,304 47,400 SH SOLE NONE 47,400 MICROSOFT CORP COM 594918104 2,014 73,200 SH SHARED 1 73,200 MILLIPORE CORP NOTE 3.750% 6/0 601073AD1 8,201 8,150,000 PRN SOLE 2,3,4,5 8,150,000 MILLIPORE CORP NOTE 3.750% 6/0 601073AD1 4,377 4,350,000 PRN SHARED 1 4,350,000 MIRANT CORP NEW COM 60467R100 159,032 4,062,132 SH SOLE 2,3,4,5 4,062,132 MIRANT CORP NEW COM 60467R100 63,932 1,632,989 SH SHARED 1 1,632,989 MIRANT CORP NEW *W EXP 01/03/201 60467R126 3,623 189,087 SH SOLE 2,3,4, 189,087 MIRANT CORP NEW *W EXP 01/03/201 60467R126 6,341 330,924 SH SHARED 1 330,924 MMC ENERGY INC COM NEW 55312Q208 732 325,300 SH SOLE 2,3,4,5 325,300 MMC ENERGY INC COM NEW 55312Q208 282 125,300 SH SHARED 1 125,300 MOHAWK INDS INC COM 608190104 3,660 57,100 SH SOLE NONE 57,100 MOHAWK INDS INC COM 608190104 1,058 16,500 SH SHARED 1 16,500 NATIONWIDE FINL SVCS INC CL A 638612101 4,820 100,400 SH SOLE NONE 100,400 NCR CORP NEW COM 62886E108 285 11,300 SH SOLE NONE 11,300 NCR CORP NEW COM 62886E108 333 13,200 SH SHARED 1 13,200 NEENAH PAPER INC COM 640079109 5,123 306,600 SH SOLE 2,3,4,5 306,600 NEENAH PAPER INC COM 640079109 2,085 124,800 SH SHARED 1 124,800 NEW YORK TIMES CO CL A 650111107 8,926 580,000 SH SOLE 2,3,4,5 580,000 NEW YORK TIMES CO CL A 650111107 4,212 273,700 SH SHARED 1 273,700 NEWMONT MINING CORP COM 651639106 67,370 1,291,600 SH SOLE 2,3,4,5 1,291,600 NEWMONT MINING CORP COM 651639106 27,066 518,900 SH SHARED 1 518,900 NEXEN INC COM 65334H102 3,880 97,600 SH SOLE 2,3,4,5 97,600 NEXEN INC COM 65334H102 1,685 42,400 SH SHARED 1 42,400 NORTHGATE MINERALS CORP COM 666416102 3,909 1,421,600 SH SOLE 2,3,4,5 1,421,600 NORTHGATE MINERALS CORP COM 666416102 1,740 632,900 SH SHARED 1 632,900 NORTHWESTERN CORP COM NEW 668074305 12,024 473,000 SH SOLE 2,3,4,5 473,000 NORTHWESTERN CORP COM NEW 668074305 4,909 193,100 SH SHARED 1 193,100 NOVAGOLD RES INC NOTE 5.500% 5/0 66987EAA5 3,945 3,950,000 PRN SOLE 2,3,4,5 3,950,000 NOVAGOLD RES INC NOTE 5.500% 5/0 66987EAA5 2,047 2,050,000 PRN SHARED 1 2,050,000 NOVELLUS SYS INC COM 670008101 731 34,500 SH SOLE NONE 34,500 NOVELLUS SYS INC COM 670008101 862 40,700 SH SHARED 1 40,700 NVR INC COM 62944T105 5,418 10,835 SH SOLE NONE 10,835 NVR INC COM 62944T105 733 1,465 SH SHARED 1 1,465 OCEAN SHORE HLDG CO COM 67501P107 573 58,000 SH SOLE NONE 58,000 ORITANI FINL CORP COM 686323106 13,092 818,270 SH SOLE 2,3,4,5 818,270 ORITANI FINL CORP COM 686323106 3,167 197,930 SH SHARED 1 197,930 PACTIV CORP COM 695257105 365 17,200 SH SOLE NONE 17,200 PACTIV CORP COM 695257105 550 25,900 SH SHARED 1 25,900 PACWEST BANCORP DEL COM 695263103 2,867 192,700 SH SOLE NONE 192,700 PACWEST BANCORP DEL COM 695263103 266 17,900 SH SHARED 1 17,900 PARKER DRILLING CO COM 701081101 10,063 1,005,300 SH SOLE 2,3,4,5 1,005,300 PARKER DRILLING CO COM 701081101 4,499 449,500 SH SHARED 1 449,500 PEPCO HOLDINGS INC COM 713291102 3,647 142,200 SH SOLE NONE 142,200 PEPCO HOLDINGS INC COM 713291102 657 25,600 SH SHARED 1 25,600 PEPSICO INC COM 713448108 7,408 116,500 SH SOLE NONE 116,500 PEPSICO INC COM 713448108 2,671 42,000 SH SHARED 1 42,000 PETRO-CDA COM 71644E102 38,551 691,500 SH SOLE 2,3,4,5 691,500 PETRO-CDA COM 71644E102 18,554 332,800 SH SHARED 1 332,800 PFIZER INC COM 717081103 23,136 1,324,300 SH SOLE 2,3,4,5 1,324,300 PFIZER INC COM 717081103 11,642 666,400 SH SHARED 1 666,400 PLAINS EXPL& PRODTN CO COM 726505100 24,190 331,505 SH SOLE 2,3,4,5 331,505 PLAINS EXPL& PRODTN CO COM 726505100 11,376 155,897 SH SHARED 1 155,897 PLATINUM UNDERWRITER HLDGS L COM G7127P100 16,171 495,900 SH SOLE 2,3,4,5 495,900 PLATINUM UNDERWRITER HLDGS L COM G7127P100 1,917 58,800 SH SHARED 1 58,800 POST PPTYS INC COM 737464107 60,726 2,041,200 SH SOLE 2,3,4,5 2,041,200 POST PPTYS INC COM 737464107 27,789 934,100 SH SHARED 1 934,100 PRESIDENTIAL LIFE CORP COM 740884101 210 13,600 SH SOLE NONE 13,600 PROASSURANCE CORP COM 74267C106 1,727 35,900 SH SOLE NONE 35,900 PROCTER & GAMBLE CO COM 742718109 7,272 119,585 SH SOLE NONE 119,585 PROCTER & GAMBLE CO COM 742718109 2,749 45,200 SH SHARED 1 45,200 PROGRESSIVE CORP OHIO COM 743315103 8,692 464,300 SH SOLE NONE 464,300 PROGRESSIVE CORP OHIO COM 743315103 876 46,800 SH SHARED 1 46,800 PRUDENTIAL FINL INC FRNT 12/1 744320AG7 23,376 24,000,000 PRN SOLE 2,3,4,5 24,000,000 PRUDENTIAL FINL INC FRNT 12/1 744320AG7 13,636 14,000,000 PRN SHARED 1 14,000,000 PSB HLDGS INC COM 69360W108 924 102,760 SH SOLE NONE 102,760 REGIONAL BK HOLDRS TR DEPOSITRY RCPT 75902E100 3,345 37,100 SH SOLE NONE 37,100 REPUBLIC FIRST BANCORP INC COM 760416107 884 121,723 SH SOLE NONE 121,723 ROCKVILLE FINL INC COM 774186100 2,135 170,000 SH SOLE 2,3,4,5 170,000 ROCKVILLE FINL INC COM 774186100 834 66,400 SH SHARED 1 66,400 ROMA FINANCIAL CORP COM 77581P109 9,238 705,200 SH SOLE 2,3,4,5 705,200 ROMA FINANCIAL CORP COM 77581P109 2,317 176,900 SH SHARED 1 176,900 SAIC INC COM 78390X101 8,784 422,100 SH SOLE NONE 422,100 SAIC INC COM 78390X101 1,877 90,200 SH SHARED 1 90,200 SAN JUAN BASIN RTY TR UNIT BEN INT 798241105 5,917 127,900 SH SOLE NONE 127,900 SAN JUAN BASIN RTY TR UNIT BEN INT 798241105 1,494 32,300 SH SHARED 1 32,300 SCHERING PLOUGH CORP COM 806605101 955 48,500 SH SOLE NONE 48,500 SCHERING PLOUGH CORP COM 806605101 1,327 67,400 SH SHARED 1 67,400 SCRIPPS E W CO OHIO CL A 811054204 11,444 275,500 SH SOLE 2,3,4,5 275,500 SCRIPPS E W CO OHIO CL A 811054204 5,433 130,800 SH SHARED 1 130,800 SELECTIVE INS GROUP INC COM 816300107 3,414 182,000 SH SOLE NONE 182,000 SIERRA PAC RES NEW COM 826428104 32,416 2,550,400 SH SOLE 2,3,4,5 2,550,400 SIERRA PAC RES NEW COM 826428104 10,285 809,200 SH SHARED 1 809,200 SOLUTIA INC COM NEW 834376501 88 6,900 SH SOLE 2,3,4,5 6,900 SOLUTIA INC COM NEW 834376501 40 3,100 SH SHARED 1 3,100 SPDR GOLD TRUST GOLD SHS 78463V107 15,885 173,800 SH SOLE NONE 173,800 STATE AUTO FINL CORP COM 855707105 15,205 635,400 SH SOLE 2,3,4,5 635,400 STATE AUTO FINL CORP COM 855707105 7,062 295,100 SH SHARED 1 295,100 STATE BANCORP INC N.Y COM 855716106 1,666 133,258 SH SOLE NONE 133,258 ST JUDE MED INC DBCV 1.220%12/1 790849AD5 5,569 5,625,000 PRN SOLE 2,3,4,5 5,625,000 ST JUDE MED INC DBCV 1.220%12/1 790849AD5 3,341 3,375,000 PRN SHARED 1 3,375,000 SUPERVALU INC COM 868536103 1,777 57,539 SH SOLE 2,3,4,5 57,539 SUPERVALU INC COM 868536103 774 25,043 SH SHARED 1 25,043 SYMS CORP COM 871551107 230 16,900 SH SOLE NONE 16,900 TALISMAN ENERGY INC COM 87425E103 26,507 1,197,800 SH SOLE 2,3,4,5 1,197,800 TALISMAN ENERGY INC COM 87425E103 9,916 448,100 SH SHARED 1 448,100 TEXAS CAPITAL BANCSHARES INC COM 88224Q107 453 28,310 SH SOLE NONE 28,310 TEXAS INSTRS INC COM 882508104 732 26,000 SH SOLE NONE 26,000 TEXAS INSTRS INC COM 882508104 1,005 35,700 SH SHARED 1 35,700 THOMAS PPTYS GROUP INC COM 884453101 12,599 1,280,382 SH SOLE 2,3,4,5 1,280,382 THOMAS PPTYS GROUP INC COM 884453101 3,698 375,800 SH SHARED 1 375,800 TIMBERLAND BANCORP INC COM 887098101 111 13,770 SH SOLE NONE 13,770 TIMBERLAND BANCORP INC COM 887098101 31 3,860 SH SHARED 1 3,860 TOOTSIE ROLL INDS INC COM 890516107 18,862 750,587 SH SOLE 2,3,4,5 750,587 TOOTSIE ROLL INDS INC COM 890516107 8,922 355,046 SH SHARED 1 355,046 TORO CO COM 891092108 722 21,700 SH SOLE NONE 21,700 TORO CO COM 891092108 985 29,600 SH SHARED 1 29,600 TYCO INTL LTD BERMUDA SHS G9143X208 4,901 122,400 SH SOLE 2,3,4,5 122,400 TYCO INTL LTD BERMUDA SHS G9143X208 2,118 52,900 SH SHARED 1 52,900 UAL CORP DBCV 5.000% 2/0 902549AE4 4,956 11,075,000 PRN SOLE 2,3,4,5 11,075,000 UAL CORP DBCV 5.000% 2/0 902549AE4 2,875 6,425,000 PRN SHARED 1 6,425,000 UNIONBANCAL CORP COM 908906100 6,536 161,697 SH SOLE NONE 161,697 UNIONBANCAL CORP COM 908906100 986 24,403 SH SHARED 1 24,403 UNISOURCE ENERGY CORP COM 909205106 57,598 1,857,400 SH SOLE 2,3,4,5 1,857,400 UNISOURCE ENERGY CORP COM 909205106 20,836 671,900 SH SHARED 1 671,900 UNISOURCE ENERGY CORP NOTE 4.500% 3/0 909205AB2 19,980 20,625,000 PRN SOLE 2,3,4,5 20,625,000 UNISOURCE ENERGY CORP NOTE 4.500% 3/0 909205AB2 12,424 12,825,000 PRN SHARED 1 12,825,000 UNITED FINANCIAL BANCORP INC COM 91030T109 1,154 103,300 SH SOLE NONE 103,300 US BANCORP DEL DBCV 2/0 902973AT3 2,208 2,250,000 PRN SOLE 2,3,4,5 2,250,000 US BANCORP DEL DBCV 2/0 902973AT3 1,717 1,750,000 PRN SHARED 1 1,750,000 USF&G CORP NOTE 3/0 903290AD6 10,178 10,547,000 PRN SOLE 2,3,4,5 10,547,000 USF&G CORP NOTE 3/0 903290AD6 5,986 6,203,000 PRN SHARED 1 6,203,000 UST INC COM 902911106 8,590 157,300 SH SOLE NONE 157,300 UST INC COM 902911106 2,900 53,100 SH SHARED 1 53,100 UST INC COM 902911106 11,681 213,900 CALL SOLE NONE 213,900 VALIDUS HOLDINGS LTD COM SHS G9319H102 4,766 224,300 SH SOLE NONE 224,300 VIEWPOINT FINL GROUP COM 926727108 952 64,700 SH SOLE NONE 64,700 WASHINGTON POST CO CL B 939640108 763 1,300 SH SOLE NONE 1,300 WAUWATOSA HLDGS INC COM 94348P108 3,389 319,100 SH SOLE 2,3,4,5 319,100 WAUWATOSA HLDGS INC COM 94348P108 1,457 137,200 SH SHARED 1 137,200 WELLCARE HEALTH PLANS INC COM 94946T106 2,766 76,502 SH SOLE NONE 76,502 WESCO FINL CORP COM 950817106 960 2,513 SH SOLE NONE 2,513 WESTERN UN CO COM 959802109 494 20,000 SH SOLE NONE 20,000 WESTFIELD FINANCIAL INC NEW COM 96008P104 790 87,300 SH SOLE NONE 87,300 WHITE MTNS INS GROUP LTD COM G9618E107 21,450 50,000 SH SOLE NONE 50,000 WHITE RIVER CAPITAL INC COM 96445P105 219 14,330 SH SOLE NONE 14,330 WILLIAMS CLAYTON ENERGY INC COM 969490101 5,091 46,300 SH SOLE 2,3,4,5 46,300 WILLIAMS CLAYTON ENERGY INC COM 969490101 2,188 19,900 SH SHARED 1 19,900 WSFS FINL CORP COM 929328102 491 11,000 SH SOLE NONE 11,000 WYETH DBCV 1/1 983024AD2 41,920 41,050,000 PRN SOLE 2,3,4,5 41,050,000 WYETH DBCV 1/1 983024AD2 25,887 25,350,000 PRN SHARED 1 25,350,000 XEROX CORP COM 984121103 20,896 1,540,989 SH SOLE 2,3,4,5 1,540,989 XEROX CORP COM 984121103 9,568 705,638 SH SHARED 1 705,638 YELLOW ROADWAY CORP NOTE 3.375% 11/2 985577AB1 3,230 4,425,000 PRN SOLE 2,3,4,5 4,425,000 YELLOW ROADWAY CORP NOTE 3.375% 11/2 985577AB1 1,880 2,575,000 PRN SHARED 1 2,575,000 YELLOW ROADWAY CORP NOTE 5.000% 8/0 985577AA3 2,235 2,525,000 PRN SOLE 2,3,4,5 2,525,000 YELLOW ROADWAY CORP NOTE 5.000% 8/0 985577AA3 1,305 1,475,000 PRN SHARED 1 1,475,000 ZEBRA TECHNOLOGIES CORP CL A 989207105 2,259 69,200 SH SOLE NONE 69,200 ZEBRA TECHNOLOGIES CORP CL A 989207105 1,309 40,100 SH SHARED 1 40,100 ZENITH NATL INS CORP COM 989390109 8,604 244,700 SH SOLE NONE 244,700
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