The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
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hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
Actuate Corporation COM 00508B102 99 15,032 SH   SOLE   14,482 0 550
Allergan, Inc. COM 018490102 10,629 50,000 SH   SOLE   50,000 0 0
American Realty Capital Health COM 02917r108 22,846 1,919,853 SH   SOLE   1,874,647 0 45,206
Auxilium Pharmaceuticals Inc. COM 05334D107 1,204 35,000 SH   SOLE   33,973 0 1,027
Avanir Pharmaceuticals Inc CL A NEW 05348p401 10,866 641,056 SH   SOLE   617,994 0 23,062
Brookfield Residential Propert COM 11283W104 1,333 55,400 SH   SOLE   52,555 0 2,845
CareFusion Corporation COM 14170T101 19,398 326,900 SH   SOLE   326,900 0 0
Chiquita Brands International, COM 170032809 12,146 840,000 SH   SOLE   837,155 0 2,845
Covidien PLC SHS G2554F113 19,842 194,000 SH   SOLE   189,700 0 4,300
Covisint Corporation COM 22357R103 330 124,685 SH   SOLE   122,441 0 2,244
Cubist Pharmaceuticals, Inc. COM 229678107 11,575 115,000 SH   SOLE   111,525 0 3,475
DIRECTV COM 25490A309 17,340 200,000 SH   SOLE   195,870 0 4,130
Dresser-Rand Group, Inc. COM 261608103 13,742 168,000 SH   SOLE   168,000 0 0
Family Dollar Stores, Inc. COM 307000109 9,505 120,000 SH   SOLE   116,135 0 3,865
Glimcher Realty Trust SH BEN INT 379302102 10,061 732,218 SH   SOLE   703,833 0 28,385
Hudson City Bancorp, Inc. COM 443683107 20,772 2,052,541 SH   SOLE   2,002,341 0 50,200
Integrys Energy Group, Inc. COM 45822P105 8,166 104,890 SH   SOLE   98,785 0 6,105
International Rectifier Corpor COM 460254105 15,960 400,000 SH   SOLE   391,640 0 8,360
Liberty Interactive Corporatio INT COM SER A 53071M104 5,196 176,600 SH   SOLE   173,120 0 3,480
MicroFinancial Incorporated COM 595072109 2,833 277,469 SH   SOLE   268,054 0 9,415
National Interstate Corporatio COM 63654u100 9,616 322,669 SH   SOLE   316,024 0 6,645
Pepco Holdings, Inc. COM 713291102 20,197 750,000 SH   SOLE   734,460 0 15,540
Platinum Underwriters COM G7127P100 7,709 105,000 SH   SOLE   100,951 0 4,049
Protective Life Corporation COM 743674103 21,870 314,000 SH   SOLE   305,680 0 8,320
Riverbed Technology, Inc. COM 768573107 4,082 200,000 SH   SOLE   189,865 0 10,135
Rockwood Holdings Inc COM 774415103 18,542 235,300 SH   SOLE   230,600 0 4,700
SWS Group, Inc. COM 78503N107 2,249 325,467 SH   SOLE   302,922 0 22,545
Safeway Inc. COM NEW 786514208 9,658 275,000 SH   SOLE   269,885 0 5,115
Sapient Corporation COM 803062108 14,953 601,000 SH   SOLE   584,300 0 16,700
Sigma-Aldrich Corporation COM 826552101 8,346 60,800 SH   SOLE   60,800 0 0
Susquehanna Bancshares, Inc. COM 869099101 11,214 835,000 SH   SOLE   809,199 0 25,801
Time Warner Cable Inc. COM 88732j207 19,327 127,100 SH   SOLE   124,300 0 2,800
TriQuint Semiconductor, Inc. COM 89674K103 26,378 957,450 SH   SOLE   930,270 0 27,180
Volcano Corporation COM 928645100 7,688 430,000 SH   SOLE   408,210 0 21,790
ALTRIA GROUP INC COM 02209S103 36 725 SH   SOLE   0 0 725
ETFS PALLADIUM TRUST SH BEN INT 26923A106 717 9,189 SH   SOLE   0 0 9,189
EQUITY COMMONWEALTH COM SH BEN INT 294628102 13 500 SH   SOLE   0 0 500
iSHARES S-T NATL AMT FREE MUNI BOND ETF SHT NTLAMTFR ETF 464288158 503 4,750 SH   SOLE   0 0 4,750
MOSAIC CO (THE) COM 61945C103 1,152 24,970 SH   SOLE   0 0 24,970
OUTFRONT MEDIA INC COM 69007J106 67 2,500 SH   SOLE   0 0 2,500
PHILIP MORRIS INTERNATIONAL COM 718172109 60 725 SH   SOLE   0 0 725
VANGUARD S/T CORP BOND ETF SHRT TRM CORP BD 92206C409 716 9,000 SH   SOLE   0 0 9,000
WILLIAMS COS INC COM 969457100 101 2,250 SH   SOLE   0 0 2,250
WPX ENERGY INC COM 98212B103 9 749 SH   SOLE   0 0 749
XCEL ENERGY INC COM 98389B100 96 2,625 SH   SOLE   0 0 2,625