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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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
Acquity Group Limited- SP ADR SPONSORED ADR 00489c103 11,960 925,000 SH   SOLE   925,000 0 0
American Greetings Corporation CL A 026375105 5,375 295,000 SH   SOLE   295,000 0 0
Ameristar Casinos, Inc. COM 03070Q101 12,795 486,674 SH   SOLE   486,674 0 0
Arbitron Inc. COM 03875q108 9,541 205,408 SH   SOLE   205,408 0 0
Assisted Living Concepts, Inc. CL A NEW 04544x300 5,585 467,000 SH   SOLE   467,000 0 0
BMC Software, Inc. COM 055921100 5,492 121,700 SH   SOLE   121,700 0 0
Belo Corporation-A COM SER A 080555105 13,950 1,000,000 SH   SOLE   1,000,000 0 0
Blackrock Credit Allocation IV COM 092508100 4,626 356,369 SH   SOLE   356,369 0 0
Buckeye Technologies Inc. COM 118255108 16,523 446,091 SH   SOLE   446,091 0 0
CFS Bancorp, Inc. COM 12525d102 5,381 502,000 SH   SOLE   502,000 0 0
CH Energy Group, Inc. COM 12541m102 5,474 84,212 SH   SOLE   84,212 0 0
Caplease, Inc. COM 140288101 9,706 1,150,000 SH   SOLE   1,150,000 0 0
Clearwire Corporation-Class A CL A 18538q105 18,352 3,677,700 SH   SOLE   3,677,700 0 0
Colonial Properties Trust COM SH BEN INT 195872106 14,183 588,000 SH   SOLE   588,000 0 0
Compuware Corporation COM 205638109 5,242 507,000 SH   SOLE   507,000 0 0
Cooper Tire & Rubber COM 216831107 8,467 255,260 SH   SOLE   255,260 0 0
Crimson Exploration Inc. COM NEW 22662K207 1,285 455,574 SH   SOLE   455,574 0 0
Dell Inc. COM 24702r101 10,544 791,000 SH   SOLE   791,000 0 0
Dole Food Company, Inc. COM 256603101 5,699 447,000 SH   SOLE   447,000 0 0
ExactTarget, Inc. COM 30064k105 14,726 436,700 SH   SOLE   436,700 0 0
First Financial Holdings, Inc. COM 320239106 4,167 196,464 SH   SOLE   196,464 0 0
Fisher Communications, Inc. COM 337756209 13,351 325,000 SH   SOLE   325,000 0 0
Gardner Denver, Inc. COM 365558105 6,112 81,300 SH   SOLE   81,300 0 0
Hudson City Bancorp, Inc. COM 443683107 12,834 1,398,000 SH   SOLE   1,398,000 0 0
Knight Capital Group, Inc.-A CL A COM 499005106 8,140 2,267,332 SH   SOLE   2,267,332 0 0
Life Technologies Corporation COM 53217v109 16,502 223,000 SH   SOLE   223,000 0 0
Lufkin Industries, Inc. COM 549764108 15,854 179,200 SH   SOLE   179,200 0 0
MPG Office Trust, Inc. COM 553274101 8,063 2,567,808 SH   SOLE   2,567,808 0 0
Market Leader, Inc. COM 57056r103 12,167 1,137,083 SH   SOLE   1,137,083 0 0
Multiband Corporation COM NEW 62544x209 3,170 1,000,000 SH   SOLE   1,000,000 0 0
Murphy Oil Corporation COM 626717102 5,145 84,500 SH   SOLE   84,500 0 0
NV Energy, Inc. COM 67073y106 14,076 600,000 SH   SOLE   600,000 0 0
NYSE Euronext COM 629491101 17,661 426,600 SH   SOLE   426,600 0 0
National Financial Partners COM 63607p208 5,388 212,900 SH   SOLE   212,900 0 0
NetSpend Holdings, Inc. COM 64118v106 16,012 1,002,000 SH   SOLE   1,002,000 0 0
News Corp- Cl A CL A 65248E104 13,032 400,000 SH   SOLE   400,000 0 0
OfficeMax Inc. COM 67622p101 10,375 1,014,200 SH   SOLE   1,014,200 0 0
Overhill Farms, Inc. COM 690212105 3,712 750,000 SH   SOLE   750,000 0 0
PVF Capital Corp. COM 693654105 4,784 1,196,000 SH   SOLE   1,196,000 0 0
Power-One, Inc. COM 73930r102 17,295 2,736,506 SH   SOLE   2,736,506 0 0
Roma Financial Corporation COM 77581p109 9,156 504,212 SH   SOLE   504,212 0 0
Soundbite Communications, Inc. COM 836091108 3,742 750,000 SH   SOLE   750,000 0 0
Spirit Realty Capital, Inc. COM 84860f109 5,927 334,500 SH   SOLE   334,500 0 0
Sprint Nextel Corporation COM SER 1 852061100 8,501 1,211,000 SH   SOLE   1,211,000 0 0
StellarOne Corporation COM 85856G100 4,826 245,604 SH   SOLE   245,604 0 0
Sterling Bancorp- NY COM 859158107 2,631 226,453 SH   SOLE   226,453 0 0
Stewart Enterprises, Inc.-Cl. CL A 860370105 12,230 932,151 SH   SOLE   932,151 0 0
Vanguard Health Systems, Inc. COM 922036207 11,401 549,717 SH   SOLE   549,717 0 0
Virginia Commerce Bancorp, Inc COM 92778q109 10,203 730,864 SH   SOLE   730,864 0 0
WMS Industries Inc. COM 929297109 15,803 619,500 SH   SOLE   619,500 0 0
Warner Chilcott PLC- Cl A SHS A g94368100 7,665 385,000 SH   SOLE   385,000 0 0
WhiteWave Foods Co.- CL B COM CL B 966244204 10,527 660,000 SH   SOLE   660,000 0 0
sTec, Inc. COM 784774101 6,475 963,555 SH   SOLE   963,555 0 0
ALERIAN MLP ETF ALERIAN MLP 00162Q866 294 16,470 SH   SOLE   0 0 16,470
AT&T INC COM 00206R102 198 5,600 SH   SOLE   0 0 5,600
ALTRIA GROUP INC COM 02209S103 267 7,675 SH   SOLE   0 0 7,675
CIT GROUP INC EQUITY COM NEW 125581801 122 2,604 SH   SOLE   0 0 2,604
ETFS PALLADIUM TRUST SH BEN INT 26923A106 769 11,899 SH   SOLE   0 0 11,899
iSHARES S-T NATL AMT FREE MUNI BOND ETF S&P SH NTL AMTFR 464288158 500 4,750 SH   SOLE   0 0 4,750
JPMORGAN CHASE & CO COM 46625H100 106 2,000 SH   SOLE   0 0 2,000
MARKET VECTORS GOLD MINERS GOLD MINER ETF 57060U100 316 12,915 SH   SOLE   0 0 12,915
PFIZER INC COM 717081103 226 8,045 SH   SOLE   0 0 8,045
PHILIP MORRIS INTERNATIONAL COM 718172109 63 725 SH   SOLE   0 0 725
PROSPECT CAPITAL CORPORATION COM 74348T102 76 7,040 SH   SOLE   0 0 7,040
ROYAL DUTCH SHELL ADR SPON ADR B 780259107 143 2,160 SH   SOLE   0 0 2,160
ROYAL DUTCH SHELL PLC-ADR A SPONS ADR A 780259206 4 56 SH   SOLE   0 0 56
WELLS FARGO & CO COM 949746101 114 2,750 SH   SOLE   0 0 2,750
WILLIAMS COS INC COM 969457100 72 2,250 SH   SOLE   0 0 2,250
WPX ENERGY INC COM 98212B103 16 749 SH   SOLE   0 0 749
XCEL ENERGY INC COM 98389B100 74 2,625 SH   SOLE   0 0 2,625
MUR US 10/19/13 57.5 PUT PUT 626717953 44 200 SH Put SOLE   200 0 0