-----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, GWiipDmIA+awNzLmTtxrE4o2cQqbhCx4b7f2CJCHGiMTfDUpTH7jW9HEQVlwR0WC 3XLYyxwGF7yF5Yll6FFa2Q== 0001158202-10-000018.txt : 20101115 0001158202-10-000018.hdr.sgml : 20101115 20101115154534 ACCESSION NUMBER: 0001158202-10-000018 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20100930 FILED AS OF DATE: 20101115 DATE AS OF CHANGE: 20101115 EFFECTIVENESS DATE: 20101115 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PENN CAPITAL MANAGEMENT CO INC CENTRAL INDEX KEY: 0001158202 IRS NUMBER: 222796848 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-11296 FILM NUMBER: 101192112 BUSINESS ADDRESS: STREET 1: 3 CRESCENT DRIVE, SUITE 400 CITY: PHILADELPHIA STATE: PA ZIP: 19112 BUSINESS PHONE: 2153021532 MAIL ADDRESS: STREET 1: 3 CRESCENT DRIVE, SUITE 400 CITY: PHILADELPHIA STATE: PA ZIP: 19112 13F-HR 1 pcm3q201013f.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13 FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: September 30, 2010 Check here if Amendment [ ]; Amendment Number: This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: PENN Capital Management Co, Inc. Address: Navy Yard Corporate Center, 3 Crescent Drive, Suite 400 Philadelphia, PA 19112 Form 13F File Number: 1 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: Eric J. Green Title: Director of Research Phone: 215-302-1500 Signature, Place, and Date of Signing: Eric J. Green Philadelphia, PA November 15, 2010 Report Type (Check only one.): [X] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT. List of Other Managers Reporting for this Manager: 028-01190 FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 260 Form 13F Information Table Value Total: 2,311,076 List of Other Included Managers: NONE Issuer Class CUSIP Value Shrs/ SH/ PUT/ Inv. Other Vot. Authority (x1000) PRN AMT PRN CALL Discretion Managers Sole Shared None AAR CORP COM 000361 10 5 7,490 401,436 SH SOLE 401,436 A D C TELECOMMUNIC NOTE 000886 AE 1 3,296 3,325,000 PRN SOLE 3,325,000 AGCO CORP COM 001084 10 2 18,423 472,273 SH SOLE 472,273 AGCO CORP NOTE 001084 AM 4 598 515,000 PRN SOLE 515,000 AK STL HLDG CORP COM 001547 10 8 10,734 777,265 SH SOLE 777,265 AMB PROPERTY CORP COM 00163T 10 9 347 13,105 SH SOLE 13,105 ABERCROMBIE & FITC CL A 002896 20 7 23,152 588,831 SH SOLE 588,831 AFFILIATED MANAGER COM 008252 10 8 8,996 115,324 SH SOLE 115,324 AIRGAS INC COM 009363 10 2 300 4,415 SH SOLE 4,415 ALCOA INC NOTE 013817 AT 8 903 450,000 PRN SOLE 450,000 ALCATEL-LUCENT SPONSOR 013904 30 5 3,488 1,032,154 SH SOLE 1,032,154 ALERE INC COM 01449J 10 5 16,310 527,299 SH SOLE 527,299 ALERE INC NOTE 01449J AA 3 949 1,000,000 PRN SOLE 1,000,000 ALPHA NATURAL RESO COM 02076X 10 2 26,695 648,712 SH SOLE 648,712 AMERICAN TOWER COR CL A 029912 20 1 6,834 133,310 SH SOLE 133,310 AVIAT NETWORKS INC COM 05366Y 10 2 1,415 346,067 SH SOLE 346,067 AVIS BUDGET GROUP COM 053774 10 5 14,082 1,208,714 SH SOLE 1,208,714 BALDOR ELEC CO COM 057741 10 0 9,526 235,806 SH SOLE 235,806 BALLY TECHNOLOGIES COM 05874B 10 7 31,073 889,076 SH SOLE 889,076 BARNES GROUP INC COM 067806 10 9 283 16,100 SH SOLE 16,100 BASIC ENERGY SVCS COM 06985P 10 0 292 34,290 SH SOLE 34,290 BELO CORP COM SER 080555 10 5 302 48,781 SH SOLE 48,781 BEST BUY INC COM 086516 10 1 4,678 114,569 SH SOLE 114,569 BIO RAD LABS INC CL A 090572 20 7 6,283 69,422 SH SOLE 69,422 BLACKBOARD INC COM 091935 50 2 6,738 186,962 SH SOLE 186,962 BRADY CORP CL A 104674 10 6 4,714 161,600 SH SOLE 161,600 BRINKER INTL INC COM 109641 10 0 17,021 902,478 SH SOLE 902,478 BROCADE COMMUNICAT COM NEW 111621 30 6 40,830 6,967,666 SH SOLE 6,967,666 BROOKDALE SR LIVIN COM 112463 10 4 5,293 324,493 SH SOLE 324,493 BUFFALO WILD WINGS COM 119848 10 9 4,572 95,460 SH SOLE 95,460 CBS CORP NEW CL B 124857 20 2 5,878 370,699 SH SOLE 370,699 CABLEVISION SYS CO CL A NY 12686C 10 9 5,042 192,487 SH SOLE 192,487 CAMERON INTERNATIO NOTE 13342B AB 1 646 500,000 PRN SOLE 500,000 CARMIKE CINEMAS IN COM 143436 40 0 1,277 146,393 SH SOLE 146,393 CARROLS RESTAURANT COM 14574X 10 4 335 63,129 SH SOLE 63,129 CATALYST HEALTH SO COM 14888B 10 3 8,282 235,280 SH SOLE 235,280 CATHAY GENERAL BAN COM 149150 10 4 19,941 1,677,163 SH SOLE 1,677,163 CELANESE CORP DEL COM SER 150870 10 3 4,677 145,738 SH SOLE 145,738 CENTERSTATE BKS FL COM 15201P 10 9 1,126 131,279 SH SOLE 131,279 CENTRAL EUROPEAN D NOTE 153435 AA 0 4,498 4,970,000 PRN SOLE 4,970,000 CENTURY ALUM CO NOTE 156431 AE 8 5,397 5,550,000 PRN SOLE 5,550,000 CENTURY CASINOS IN COM 156492 10 0 480 233,116 SH SOLE 233,116 CEPHALON INC COM 156708 10 9 25,936 415,375 SH SOLE 415,375 CEPHALON INC NOTE 156708 AR 0 569 506,000 PRN SOLE 506,000 CHART INDS INC COM PAR 16115q 30 8 8,248 405,119 SH SOLE 405,119 CHATHAM LODGING TR COM 16208T 10 2 880 47,276 SH SOLE 47,276 CHIMERA INVT CORP COM 16934Q 10 9 18,440 4,668,396 SH SOLE 4,668,396 CHIQUITA BRANDS IN COM 170032 80 9 250 18,919 SH SOLE 18,919 CIRCOR INTL INC COM 17273K 10 9 443 14,034 SH SOLE 14,034 CITIGROUP INC UNIT 99 172967 41 6 6,044 51,201 SH SOLE 51,201 COGO GROUP INC COM 192448 10 8 539 87,139 SH SOLE 87,139 COLLECTIVE BRANDS COM 19421W 10 0 477 29,579 SH SOLE 29,579 COMERICA INC COM 200340 10 7 24,793 667,381 SH SOLE 667,381 COMMSCOPE INC COM 203372 10 7 50,037 2,107,728 SH SOLE 2,107,728 COMMSCOPE INC NOTE 203372 AG 2 1,139 1,002,000 PRN SOLE 1,002,000 COMPELLENT TECHNOL COM 20452A 10 8 303 16,681 SH SOLE 16,681 COMSTOCK RES INC COM NEW 205768 20 3 25,590 1,137,871 SH SOLE 1,137,871 CON-WAY INC COM 205944 10 1 7,662 247,234 SH SOLE 247,234 CONSOL ENERGY INC COM 20854P 10 9 5,766 155,997 SH SOLE 155,997 CONSTELLATION BRAN CL A 21036p 10 8 23,839 1,347,619 SH SOLE 1,347,619 CROWN CASTLE INTL COM 228227 10 4 10,655 241,340 SH SOLE 241,340 CURTISS WRIGHT COR COM 231561 10 1 23,591 778,584 SH SOLE 778,584 DAKTRONICS INC COM 234264 10 9 827 84,246 SH SOLE 84,246 DANA HOLDING CORP COM 235825 20 5 6,175 501,234 SH SOLE 501,234 DARDEN RESTAURANTS COM 237194 10 5 3,936 92,017 SH SOLE 92,017 DEER CONSUMER PROD COM NEW 24379J 20 0 1,326 138,026 SH SOLE 138,026 DIAMOND OFFSHORE D COM 25271c 10 2 224 3,310 SH SOLE 3,310 DIAMONDROCK HOSPIT COM 252784 30 1 12,447 1,311,518 SH SOLE 1,311,518 DIGITAL RIV INC COM 25388B 10 4 27,535 808,889 SH SOLE 808,889 DOLAN MEDIA CO COM 25659P 40 2 349 30,684 SH SOLE 30,684 DOVER CORP COM 260003 10 8 4,103 78,604 SH SOLE 78,604 EMS TECHNOLOGIES I COM 26873N 10 8 6,295 337,895 SH SOLE 337,895 EXCO RESOURCES INC COM 269279 40 2 26,364 1,773,008 SH SOLE 1,773,008 ENERGIZER HLDGS IN COM 29266R 10 8 7,725 114,891 SH SOLE 114,891 ENERSYS COM 29275Y 10 2 14,358 575,017 SH SOLE 575,017 EQUINIX INC COM NEW 29444U 50 2 4,196 40,999 SH SOLE 40,999 EXIDE TECHNOLOGIES COM NEW 302051 20 6 6,128 1,279,162 SH SOLE 1,279,162 F M C CORP COM NEW 302491 30 3 4,480 65,487 SH SOLE 65,487 FMC TECHNOLOGIES I COM 30249U 10 1 320 4,682 SH SOLE 4,682 FELCOR LODGING TR COM 31430F 10 1 1,422 309,066 SH SOLE 309,066 FIRST HORIZON NATL COM 320517 10 5 6,752 591,779 SH SOLE 591,779 FIRST INDUSTRIAL R COM 32054K 10 3 328 64,655 SH SOLE 64,655 FIRST MIDWEST BANC COM 320867 10 4 696 60,362 SH SOLE 60,362 FIRST NIAGARA FINL COM 33582v 10 8 372 31,950 SH SOLE 31,950 1ST UNITED BANCORP COM 33740N 10 5 338 52,511 SH SOLE 52,511 FISERV INC COM 337738 10 8 4,566 84,835 SH SOLE 84,835 FLOW INTL CORP COM 343468 10 4 1,003 381,498 SH SOLE 381,498 FLY LEASING LTD SPONSOR 34407D 10 9 374 28,486 SH SOLE 28,486 FORD MTR CO DEL NOTE 345370 CN 8 597 400,000 PRN SOLE 400,000 FOREST LABS INC COM 345838 10 6 5,422 175,327 SH SOLE 175,327 GAMESTOP CORP NEW CL A 36467W 10 9 21,829 1,107,550 SH SOLE 1,107,550 GARDNER DENVER INC COM 365558 10 5 7,749 144,359 SH SOLE 144,359 GASCO ENERGY INC COM 367220 10 0 748 2,493,695 SH SOLE 2,493,695 GAYLORD ENTMT CO N COM 367905 10 6 20,475 671,290 SH SOLE 671,290 GENERAL CABLE CORP COM 369300 10 8 13,265 489,085 SH SOLE 489,085 GENZYME CORP COM 372917 10 4 4,296 60,700 SH SOLE 60,700 GLOBE SPECIALTY ME COM 37954N 20 6 186 13,248 SH SOLE 13,248 GOLUB CAP BDC 38173M 10 2 534 34,892 SH SOLE 34,892 GOODRICH PETE CORP COM NEW 382410 40 5 804 55,189 SH SOLE 55,189 GOODRICH PETE CORP NOTE 382410 AC 2 5,014 5,510,000 PRN SOLE 5,510,000 GRAFTECH INTL LTD COM 384313 10 2 10,025 641,355 SH SOLE 641,355 GREAT WOLF RESORTS COM 391523 10 7 501 263,448 SH SOLE 263,448 HAIN CELESTIAL GRO COM 405217 10 0 24,924 1,039,369 SH SOLE 1,039,369 HARTFORD FINL SVCS COM 416515 10 4 7,003 305,179 SH SOLE 305,179 HARTFORD FINL SVCS DEP CON 416515 70 8 5,642 237,850 SH SOLE 237,850 HEADWATERS INC COM 42210p 10 2 1,155 320,820 SH SOLE 320,820 HEADWATERS INC NOTE 42210P AD 4 5,198 6,580,000 PRN SOLE 6,580,000 HERSHA HOSPITALITY SH BEN 427825 10 4 405 78,222 SH SOLE 78,222 HEXCEL CORP NEW COM 428291 10 8 5,352 300,862 SH SOLE 300,862 HHGREGG INC COM 42833L 10 8 5,959 240,668 SH SOLE 240,668 HOLOGIC INC COM 436440 10 1 43,680 2,728,361 SH SOLE 2,728,361 HOLOGIC INC FRNT 2 436440 AA 9 731 790,000 SH SOLE 790,000 HOME BANCSHARES IN COM 436893 20 0 589 28,977 SH SOLE 28,977 HORIZON LINES INC COM 44044K 10 1 505 120,249 SH SOLE 120,249 HORIZON LINES INC NOTE 44044K AB 7 9,912 10,892,000 PRN SOLE 10,892,000 HOST HOTELS & RESO COM 44107P 10 4 222 15,319 SH SOLE 15,319 HUB GROUP INC CL A 443320 10 6 11,813 403,721 SH SOLE 403,721 HUNT J B TRANS SVC COM 445658 10 7 7,203 207,577 SH SOLE 207,577 ICU MED INC COM 44930g 10 7 770 20,637 SH SOLE 20,637 ICON PUB LTD CO SPONSOR 45103T 10 7 6,224 287,862 SH SOLE 287,862 IDEX CORP COM 45167R 10 4 6,655 187,408 SH SOLE 187,408 IMAX CORP COM 45245E 10 9 5,455 323,555 SH SOLE 323,555 INTEGRA LIFESCIENC COM NEW 457985 20 8 19,037 482,433 SH SOLE 482,433 INTERCLICK INC COM NEW 458483 20 3 5,700 1,407,251 SH SOLE 1,407,251 INTERNATIONAL GAME NOTE 459902 AQ 5 3,398 3,125,000 PRN SOLE 3,125,000 INTREPID POTASH IN COM 46121Y 10 2 5,162 197,981 SH SOLE 197,981 ISLE OF CAPRI CASI COM 464592 10 4 485 67,697 SH SOLE 67,697 J CREW GROUP INC COM 46612h 40 2 5,718 170,087 SH SOLE 170,087 JACK IN THE BOX IN COM 466367 10 9 10,513 490,339 SH SOLE 490,339 JANUS CAP GRO 47102X 10 5 53,170 4,855,662 SH SOLE 4,855,662 JANUS CAP GRO 47102X AG 0 855 750,000 SH SOLE 750,000 KANSAS CITY SOUTHE COM NEW 485170 30 2 16,819 449,559 SH SOLE 449,559 KENEXA CORP COM 488879 10 7 6,347 362,229 SH SOLE 362,229 KEY ENERGY SVCS IN COM 492914 10 6 4,594 483,111 SH SOLE 483,111 KEYCORP NEW COM 493267 10 8 35,510 4,460,997 SH SOLE 4,460,997 KEYCORP NEW PFD 7.7 493267 40 5 662 6,175 SH SOLE 6,175 KING PHARMACEUTICA COM 495582 10 8 24,961 2,506,110 SH SOLE 2,506,110 KING PHARMACEUTICA NOTE 495582 AJ 7 594 635,000 PRN SOLE 635,000 KIRBY CORP COM 497266 10 6 621 15,490 SH SOLE 15,490 LAMAR ADVERTISING CL A 512815 10 1 25,415 798,721 SH SOLE 798,721 LANDSTAR SYS INC COM 515098 10 1 24,923 645,344 SH SOLE 645,344 LAS VEGAS SANDS CO COM 517834 10 7 5,342 153,278 SH SOLE 153,278 LEAP WIRELESS INTL COM NEW 521863 30 8 549 44,421 SH SOLE 44,421 LEAR CORP COM NEW 521865 20 4 11,149 141,239 SH SOLE 141,239 LIFE TIME FITNESS COM 53217R 20 7 6,725 170,379 SH SOLE 170,379 LINCOLN NATL CORP COM 534187 10 9 37,429 1,564,759 SH SOLE 1,564,759 LOCAL COM CORP COM 53954R 10 5 291 65,855 SH SOLE 65,855 LODGENET INTERACTI COM 540211 10 9 4,682 1,672,244 SH SOLE 1,672,244 LUCENT TECHNOLOGIE DBCV 549463 AH 0 761 840,000 SH SOLE 840,000 MGIC INVT CORP WIS COM 552848 10 3 4,926 533,694 SH SOLE 533,694 MHI HOSPITALITY CO COM 55302L 10 2 38 14,800 SH SOLE 14,800 MAGELLAN HEALTH SV COM NEW 559079 20 7 4,849 102,641 SH SOLE 102,641 MAGNUM HUNTER RES COM 55973B 10 2 337 81,401 SH SOLE 81,401 MARSHALL & ILSLEY COM 571837 10 3 34,885 4,955,462 SH SOLE 4,955,462 MASCO CORP COM 574599 10 6 12,273 1,114,654 SH SOLE 1,114,654 MATTEL INC COM 577081 10 2 5,394 229,929 SH SOLE 229,929 MICROS SYS INC COM 594901 10 0 6,359 150,211 SH SOLE 150,211 MICROSEMI CORP COM 595137 10 0 22,159 1,294,199 SH SOLE 1,294,199 MONSTER WORLDWIDE COM 611742 10 7 41,662 3,214,575 SH SOLE 3,214,575 MYLAN INC PFD CON 628530 20 6 699 625 SH SOLE 625 NII HLDGS INC CL B NE 62913F 20 1 34,595 841,736 SH SOLE 841,736 NAVISTAR INTL CORP COM 63934E 10 8 11,013 252,358 SH SOLE 252,358 NETLIST INC COM 64118P 10 9 1,094 367,119 SH SOLE 367,119 NEUTRAL TANDEM INC COM 64128B 10 8 912 76,329 SH SOLE 76,329 NEWCASTLE INVT COR COM 65105M 10 8 559 180,168 SH SOLE 180,168 NEWPARK RES INC COM PAR 651718 50 4 658 78,358 SH SOLE 78,358 NORTHERN OIL & GAS COM 665531 10 9 6,382 376,760 SH SOLE 376,760 NTELOS HLDGS CORP COM 67020Q 10 7 5,606 331,311 SH SOLE 331,311 OCZ TECHNOLOGY GRO COM 67086E 30 3 594 208,581 SH SOLE 208,581 OLD DOMINION FGHT COM 679580 10 0 17,814 700,771 SH SOLE 700,771 ON SEMICONDUCTOR C NOTE 682189 ag 0 506 502,000 PRN SOLE 502,000 OPNEXT INC COM 68375v 10 5 8,406 5,354,459 SH SOLE 5,354,459 OWENS ILL INC COM NEW 690768 40 3 44,130 1,572,715 SH SOLE 1,572,715 PMC-SIERRA INC COM 69344F 10 6 17,632 2,395,695 SH SOLE 2,395,695 PAETEC HOLDING COR COM 695459 10 7 29,947 7,286,286 SH SOLE 7,286,286 PATTERSON UTI ENER COM 703481 10 1 5,538 324,249 SH SOLE 324,249 PEABODY ENERGY COR SDCV 704549 ag 9 763 684,000 SH SOLE 684,000 PENN VA CORP COM 707882 10 6 410 25,545 SH SOLE 25,545 PETROHAWK ENERGY C COM 716495 10 6 20,718 1,283,640 SH SOLE 1,283,640 PHARMACEUTICAL PRO COM 717124 10 1 32,605 1,315,269 SH SOLE 1,315,269 PHARMERICA CORP COM 71714f 10 4 374 39,210 SH SOLE 39,210 PHILLIPS VAN HEUSE COM 718592 10 8 7,115 118,266 SH SOLE 118,266 PIER 1 IMPORTS INC COM 720279 10 8 6,774 827,188 SH SOLE 827,188 PINNACLE ENTMT INC COM 723456 10 9 24,783 2,222,769 SH SOLE 2,222,769 POTASH CORP SASK I COM 73755L 10 7 290 2,010 SH SOLE 2,010 POWERWAVE TECHNOLO COM 739363 10 9 647 355,371 SH SOLE 355,371 POWERWAVE TECHNOLO SDCV 739363 AF 6 14,270 18,715,000 SH SOLE 18,715,000 POWERWAVE TECHNOLO NOTE 739363 AG 4 2,884 2,530,000 PRN SOLE 2,530,000 PROCERA NETWORKS I COM 74269U 10 4 618 1,166,235 SH SOLE 1,166,235 PROLOGIS SH BEN 743410 10 2 22,291 1,892,281 SH SOLE 1,892,281 PZENA INVESTMENT M CLASS A 74731Q 10 3 513 74,712 SH SOLE 74,712 QUIKSILVER INC COM 74838C 10 6 5,863 1,499,548 SH SOLE 1,499,548 RF MICRODEVICES IN COM 749941 10 0 98 16,000 SH SOLE 16,000 RANGE RES CORP COM 75281A 10 9 23,646 620,136 SH SOLE 620,136 REGIONS FINANCIAL COM 7591EP 10 0 27,921 3,840,613 SH SOLE 3,840,613 REX ENERGY CORPORA COM 761565 10 0 6,861 536,051 SH SOLE 536,051 RUSH ENTERPRISES I CL A 781846 20 9 501 32,638 SH SOLE 32,638 SBA COMMUNICATIONS COM 78388J 10 6 27,419 680,378 SH SOLE 680,378 SBA COMMUNICATIONS NOTE 78388J AM 8 7,925 5,405,000 PRN SOLE 5,405,000 SRS LABS INC COM 78464M 10 6 276 29,581 SH SOLE 29,581 SABA SOFTWARE INC COM NEW 784932 60 0 426 78,381 SH SOLE 78,381 SAFEWAY INC COM NEW 786514 20 8 550 26,000 SH SOLE 26,000 SAVVIS INC COM NEW 805423 30 8 33,494 1,588,893 SH SOLE 1,588,893 SEACOAST BKG CORP COM 811707 30 6 470 385,512 SH SOLE 385,512 SELECT SECTOR SPDR SBI CON 81369Y 30 8 1,184 42,470 SH SOLE 42,470 SHUFFLE MASTER INC COM 825549 10 8 562 66,815 SH SOLE 66,815 SINCLAIR BROADCAST CL A 829226 10 9 5,531 787,758 SH SOLE 787,758 SMITH & WESSON HLD COM 831756 10 1 638 179,127 SH SOLE 179,127 SMITHFIELD FOODS I COM 832248 10 8 22,795 1,354,473 SH SOLE 1,354,473 SMITHFIELD FOODS I NOTE 832248 AR 9 633 600,000 PRN SOLE 600,000 SOLAR CAP LTD 83413U 10 0 764 35,620 SH SOLE 35,620 SOLUTIA INC COM NEW 834376 50 1 9,865 615,732 SH SOLE 615,732 STERLING BANCSHARE COM 858907 10 8 1,209 225,133 SH SOLE 225,133 SUN HEALTHCARE GRO COM NEW 866933 40 1 7,712 910,563 SH SOLE 910,563 SUNTRUST BKS INC COM 867914 10 3 9,516 368,423 SH SOLE 368,423 SWIFT ENERGY CO COM 870738 10 1 6,403 228,040 SH SOLE 228,040 SYNOVUS FINL CORP COM 87161C 10 5 44,539 18,105,311 SH SOLE 18,105,311 SYNOVUS FINL CORP UNIT 99 87161C 20 4 15,757 669,100 SH SOLE 669,100 TASTY BAKING CO COM 876553 30 6 396 58,092 SH SOLE 58,092 TELLABS INC COM 879664 10 0 5,188 696,252 SH SOLE 696,252 TENNESSEE COMMERCE COM 88043P 10 8 447 110,668 SH SOLE 110,668 TERREMARK WORLDWID COM NEW 881448 20 3 9,211 890,836 SH SOLE 890,836 TEXAS CAPITAL BANC COM 88224Q 10 7 4,669 270,366 SH SOLE 270,366 TITAN INTL INC ILL COM 88830m 10 2 8,688 640,226 SH SOLE 640,226 TRIDENT MICROSYSTE COM 895919 10 8 444 259,558 SH SOLE 259,558 TRIUMPH GROUP INC NOTE 896818 AB 7 423 297,000 PRN SOLE 297,000 ULTA SALON COSMETC COM 90384S 30 3 6,935 237,526 SH SOLE 237,526 ULTRALIFE CORP COM 903899 10 2 773 177,638 SH SOLE 177,638 ULTRA PETROLEUM CO COM 903914 10 9 16,950 403,760 SH SOLE 403,760 UNITED CMNTY BKS B CAP STK 90984P 10 5 760 339,142 SH SOLE 339,142 UNITED STATES STL COM 912909 10 8 5,124 116,892 SH SOLE 116,892 UNIVERSAL HLTH SVC CL B 913903 10 0 6,610 170,104 SH SOLE 170,104 VAIL RESORTS INC COM 91879Q 10 9 8,518 227,008 SH SOLE 227,008 VALUECLICK INC COM 92046N 10 2 23,448 1,792,662 SH SOLE 1,792,662 VARIAN MED SYS INC COM 92220P 10 5 21,658 357,975 SH SOLE 357,975 WMS INDS INC COM 929297 10 9 11,037 289,918 SH SOLE 289,918 WSFS FINL CORP COM 929328 10 2 456 12,149 SH SOLE 12,149 WABASH NATL CORP COM 929566 10 7 265 32,787 SH SOLE 32,787 WALTER ENERGY INC COM 93317Q 10 5 5,300 65,200 SH SOLE 65,200 WARNACO GROUP INC COM NEW 934390 40 2 4,408 86,225 SH SOLE 86,225 WEBSTER FINL CORP COM 947890 10 9 9,091 517,751 SH SOLE 517,751 WELLS FARGO & CO N PFD CNV 949746 80 4 33,003 32,806 SH SOLE 32,806 WESTERN ALLIANCE B COM 957638 10 9 8,798 1,313,043 SH SOLE 1,313,043 WESTERN DIGITAL CO COM 958102 10 5 295 10,400 SH SOLE 10,400 WET SEAL INC CL A 961840 10 5 16,531 4,876,063 SH SOLE 4,876,063 WINTRUST FINANCIAL COM 97650W 10 8 8,594 265,144 SH SOLE 265,144 WRIGHT MED GROUP I COM 98235T 10 7 25,597 1,776,371 SH SOLE 1,776,371 WRIGHT MED GROUP I NOTE 98235T AA 5 1,296 1,450,000 PRN SOLE 1,450,000 WYNDHAM WORLDWIDE COM 98310W 10 8 5,995 218,246 SH SOLE 218,246 ZIMMER HLDGS INC COM 98956P 10 2 4,738 90,520 SH SOLE 90,520 ZIONS BANCORPORATI COM 989701 10 7 31,397 1,469,903 SH SOLE 1,469,903 ARGO GROUP INTL HL COM G0464B 10 7 5,701 164,102 SH SOLE 164,102 INVESCO LTD SHS G491BT 10 8 5,426 255,542 SH SOLE 255,542 ORIENT-EXPRESS HOT CL A G67743 10 7 6,149 551,550 SH SOLE 551,550 SEAGATE TECHNOLOGY SHS G7945M 10 7 5,055 429,157 SH SOLE 429,157 ACE LTD SHS h0023r 10 5 4,269 73,296 SH SOLE 73,296 WEATHERFORD INTERN REG H27013 10 3 5,783 338,169 SH SOLE 338,169 NOBLE CORPORATION NAMEN - H5833N 10 3 4,382 129,705 SH SOLE 129,705 TRANSOCEAN LTD REG SHS H8817H 10 0 424 6,590 SH SOLE 6,590 CERAGON NETWORKS L ORD M22013 10 2 6,974 705,172 SH SOLE 705,172 TOTAL 2,311,076 -----END PRIVACY-ENHANCED MESSAGE-----