-----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, Bqxszx1FI7RyAXQ7nTSqfeYLbaeI4UUhNx/5fnH6M+Nl0FtyRVzQJH/30v1WjT1j W1u0NasjKpUbW3JDiEx/qQ== 0001158202-10-000009.txt : 20100806 0001158202-10-000009.hdr.sgml : 20100806 20100806091540 ACCESSION NUMBER: 0001158202-10-000009 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20100630 FILED AS OF DATE: 20100806 DATE AS OF CHANGE: 20100806 EFFECTIVENESS DATE: 20100806 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: 10996445 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 pcm2q201013f.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: June 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 August 5, 2010 Report Type (Check only one.): [X] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT. List of Other Managers Reporting for this Manager: FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 283 Form 13F Information Table Value Total: 2,039,303 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 4,542 271,324 SH SOLE 271,324 A D C TELECOMMUNIC COM NEW 000886 30 9 20,297 2,736,875 SH SOLE 2,736,875 A D C TELECOMMUNIC NOTE 000886 AE 1 3,785 4,555,000 PRN SOLE 4,555,000 AGCO CORP COM 001084 10 2 20,536 761,336 SH SOLE 761,336 AGCO CORP NOTE 001084 AM 4 615 650,000 PRN SOLE 650,000 AK STL HLDG CORP COM 001547 10 8 12,760 1,070,055 SH SOLE 1,070,055 AMB PROPERTY CORP COM 00163T 10 9 311 13,105 SH SOLE 13,105 ABERCROMBIE & FITC CL A 002896 20 7 20,529 670,478 SH SOLE 670,478 AEROPOSTALE COM 007865 10 8 5,289 184,668 SH SOLE 184,668 AFFILIATED MANAGER COM 008252 10 8 6,860 112,951 SH SOLE 112,951 ALCOA INC NOTE 013817 AT 8 431 250,000 PRN SOLE 250,000 ALCATEL-LUCENT SPONSOR 013904 30 5 3,341 1,315,321 SH SOLE 1,315,321 ALLEGHANY CORP DEL COM 017175 10 0 320 1,180 SH SOLE 1,180 ALLEGHENY ENERGY I COM 017361 10 6 5,983 288,241 SH SOLE 288,241 ALPHA NATURAL RESO COM 02076X 10 2 27,317 806,421 SH SOLE 806,421 AMERICAN TOWER COR CL A 029912 20 1 6,058 137,268 SH SOLE 137,268 AMERIPRISE FINL IN COM 03076C 10 6 222 9,140 SH SOLE 9,140 ARCH COAL INC COM 039380 10 0 421 26,660 SH SOLE 26,660 ARENA RESOURCES IN COM 040049 10 8 259 8,125 SH SOLE 8,125 ART TECHNOLOGY GRO COM 04289L 10 7 360 105,153 SH SOLE 105,153 AVIAT NETWORKS INC COM 05366Y 10 2 1,408 388,013 SH SOLE 388,013 AVIS BUDGET GROUP COM 053774 10 5 3,375 343,714 SH SOLE 343,714 BALDOR ELEC CO COM 057741 10 0 8,231 228,115 SH SOLE 228,115 BALLY TECHNOLOGIES COM 05874B 10 7 18,027 557,437 SH SOLE 557,437 BIO RAD LABS INC CL A 090572 20 7 5,922 68,660 SH SOLE 68,660 BLUE COAT SYSTEMS COM NEW 09534T 50 8 414 25,061 SH SOLE 25,061 BOTTOMLINE TECH DE COM 101388 10 6 333 25,593 SH SOLE 25,593 BRADY CORP CL A 104674 10 6 4,018 161,166 SH SOLE 161,166 BRINKER INTL INC COM 109641 10 0 17,638 1,219,806 SH SOLE 1,219,806 BROCADE COMMUNICAT COM NEW 111621 30 6 20,756 4,022,493 SH SOLE 4,022,493 BROOKDALE SR LIVIN COM 112463 10 4 4,726 315,112 SH SOLE 315,112 BUFFALO WILD WINGS COM 119848 10 9 271 7,395 SH SOLE 7,395 CBS CORP NEW CL B 124857 20 2 3,909 302,280 SH SOLE 302,280 CABLEVISION SYS CO CL A NY 12686C 10 9 4,618 192,353 SH SOLE 192,353 CAPITALSOURCE INC DBCV 14055X AE 2 3 165,000 SH SOLE 165,000 CARROLS RESTAURANT COM 14574X 10 4 265 57,899 SH SOLE 57,899 CATALYST HEALTH SO COM 14888B 10 3 5,498 161,467 SH SOLE 161,467 CATHAY GENERAL BAN COM 149150 10 4 16,723 1,618,871 SH SOLE 1,618,871 CELANESE CORP DEL COM SER 150870 10 3 3,691 148,192 SH SOLE 148,192 CENTERSTATE BKS FL COM 15201P 10 9 1,000 99,063 SH SOLE 99,063 CENTRAL EUROPEAN D COM 153435 10 2 5,655 263,651 SH SOLE 263,651 CENTRAL EUROPEAN D NOTE 153435 AA 0 10,110 12,000,000 PRN SOLE 12,000,000 CENTURY ALUM CO NOTE 156431 AE 8 5,979 6,345,000 PRN SOLE 6,345,000 CENTURY CASINOS IN COM 156492 10 0 457 213,514 SH SOLE 213,514 CEPHALON INC COM 156708 10 9 22,531 397,009 SH SOLE 397,009 CEPHALON INC NOTE 156708 AR 0 654 620,000 PRN SOLE 620,000 CHART INDS INC COM PAR 16115Q 30 8 7,480 480,082 SH SOLE 480,082 CHATHAM LODGING TR COM 16208T 10 2 775 43,355 SH SOLE 43,355 CHIMERA INVT CORP COM 16934Q 10 9 19,576 5,423,646 SH SOLE 5,423,646 CHIQUITA BRANDS IN COM 170032 80 9 754 62,079 SH SOLE 62,079 CIENA CORP COM NEW 171779 30 9 431 41,692 SH SOLE 41,692 CITIGROUP INC UNIT 99 172967 41 6 4,802 42,500 SH SOLE 42,500 COGO GROUP INC COM 192448 10 8 612 98,112 SH SOLE 98,112 COINSTAR INC NOTE 19259P AF 9 2 175,000 PRN SOLE 175,000 COMERICA INC COM 200340 10 7 28,407 774,372 SH SOLE 774,372 COMMSCOPE INC COM 203372 10 7 29,610 1,244,920 SH SOLE 1,244,920 COMPELLENT TECHNOL COM 20452A 10 8 254 20,982 SH SOLE 20,982 COMPLETE PRODUCTIO COM 20453E 10 9 10,726 750,073 SH SOLE 750,073 COMSTOCK RES INC COM NEW 205768 20 3 30,187 1,087,122 SH SOLE 1,087,122 COMTECH TELECOMMUN COM NEW 205826 20 9 528 17,629 SH SOLE 17,629 CON-WAY INC COM 205944 10 1 5,347 177,304 SH SOLE 177,304 CONSOL ENERGY INC COM 20854P 10 9 3,221 95,361 SH SOLE 95,361 CONSTELLATION BRAN CL A 21036P 10 8 21,187 1,359,299 SH SOLE 1,359,299 CONTINENTAL RESOUR COM 212015 10 1 272 9,781 SH SOLE 9,781 CROWN CASTLE INTL COM 228227 10 4 9,458 260,781 SH SOLE 260,781 CURTISS WRIGHT COR COM 231561 10 1 22,459 773,285 SH SOLE 773,285 DAKTRONICS INC COM 234264 10 9 663 88,436 SH SOLE 88,436 DANA HOLDING CORP COM 235825 20 5 8,028 802,759 SH SOLE 802,759 DARDEN RESTAURANTS COM 237194 10 5 5,317 136,826 SH SOLE 136,826 DAVITA INC COM 23918K 10 8 308 6,215 SH SOLE 6,215 DEER CONSUMER PROD COM NEW 24379J 20 0 1,060 127,722 SH SOLE 127,722 DIGITAL RIV INC COM 25388B 10 4 23,179 969,452 SH SOLE 969,452 DOLAN MEDIA CO COM 25659P 40 2 314 28,255 SH SOLE 28,255 EMS TECHNOLOGIES I COM 26873N 10 8 6,071 404,173 SH SOLE 404,173 EXCO RESOURCES INC COM 269279 40 2 22,803 1,565,655 SH SOLE 1,565,655 ENERGIZER HLDGS IN COM 29266R 10 8 12,565 249,752 SH SOLE 249,752 ENERSYS COM 29275Y 10 2 9,687 453,292 SH SOLE 453,292 EXIDE TECHNOLOGIES COM NEW 302051 20 6 6,198 1,191,885 SH SOLE 1,191,885 F M C CORP COM NEW 302491 30 3 3,763 65,517 SH SOLE 65,517 FMC TECHNOLOGIES I COM 30249U 10 1 216 4,107 SH SOLE 4,107 FAIRCHILD SEMICOND COM 303726 10 3 173 24,788 SH SOLE 24,788 FELCOR LODGING TR COM 31430F 10 1 490 98,265 SH SOLE 98,265 FINISAR CORP COM NEW 31787A 50 7 7,924 531,778 SH SOLE 531,778 FIRST HORIZON NATL COM 320517 10 5 6,529 569,862 SH SOLE 569,862 FIRST MIDWEST BANC COM 320867 10 4 384 31,605 SH SOLE 31,605 1ST UNITED BANCORP COM 33740N 10 5 231 31,432 SH SOLE 31,432 FISERV INC COM 337738 10 8 3,968 86,906 SH SOLE 86,906 FLOW INTL CORP COM 343468 10 4 822 348,307 SH SOLE 348,307 FOREST LABS INC COM 345838 10 6 5,047 184,643 SH SOLE 184,643 FREEPORT-MCMORAN C COM 35671D 85 7 662 11,198 SH SOLE 11,198 GLG LIFE TECH CORP COM NEW 361793 20 1 319 41,493 SH SOLE 41,493 GAMESTOP CORP NEW CL A 36467W 10 9 21,116 1,121,318 SH SOLE 1,121,318 GARDNER DENVER INC COM 365558 10 5 6,228 139,683 SH SOLE 139,683 GASCO ENERGY INC COM 367220 10 0 877 2,512,999 SH SOLE 2,512,999 GASCO ENERGY INC NOTE 367220 AB 6 41 68,000 PRN SOLE 68,000 GAYLORD ENTMT CO N COM 367905 10 6 6,821 312,386 SH SOLE 312,386 GENZYME CORP COM 372917 10 4 5,283 103,886 SH SOLE 103,886 GMX RES INC NOTE 38011M AB 4 139 180,000 PRN SOLE 180,000 GOLDMAN SACHS GROU COM 38141G 10 4 424 3,230 SH SOLE 3,230 GOLUB CAP BDC 38173M 10 2 588 40,786 SH SOLE 40,786 GOODRICH PETE CORP COM NEW 382410 40 5 754 55,686 SH SOLE 55,686 GRAFTECH INTL LTD COM 384313 10 2 8,004 547,512 SH SOLE 547,512 GREAT WOLF RESORTS COM 391523 10 7 504 242,190 SH SOLE 242,190 HAIN CELESTIAL GRO COM 405217 10 0 27,096 1,350,009 SH SOLE 1,350,009 HARTFORD FINL SVCS COM 416515 10 4 4,527 208,343 SH SOLE 208,343 HARTFORD FINL SVCS DEP CON 416515 70 8 4,129 178,425 SH SOLE 178,425 HEADWATERS INC COM 42210P 10 2 3,840 1,352,170 SH SOLE 1,352,170 HERSHA HOSPITALITY SH BEN 427825 10 4 207 45,794 SH SOLE 45,794 HEXCEL CORP NEW COM 428291 10 8 2,328 150,086 SH SOLE 150,086 HOLOGIC INC COM 436440 10 1 33,816 2,426,753 SH SOLE 2,426,753 HOME BANCSHARES IN COM 436893 20 0 599 26,245 SH SOLE 26,245 HORIZON LINES INC COM 44044K 10 1 470 111,182 SH SOLE 111,182 HORIZON LINES INC NOTE 44044K AB 7 11,317 13,107,000 PRN SOLE 13,107,000 HOST HOTELS & RESO COM 44107P 10 4 287 24,824 SH SOLE 24,824 HUB GROUP INC CL A 443320 10 6 23,673 792,083 SH SOLE 792,083 HUNT J B TRANS SVC COM 445658 10 7 5,953 182,649 SH SOLE 182,649 ICU MED INC COM 44930G 10 7 914 28,420 SH SOLE 28,420 ICON PUB LTD CO SPONSOR 45103T 10 7 8,015 277,415 SH SOLE 277,415 IDEX CORP COM 45167R 10 4 2,881 100,830 SH SOLE 100,830 INTEGRA LIFESCIENC COM NEW 457985 20 8 14,855 405,768 SH SOLE 405,768 INTERCLICK INC COM NEW 458483 20 3 466 126,734 SH SOLE 126,734 INTERCONTINENTALEX COM 45865V 10 0 647 5,718 SH SOLE 5,718 INTREPID POTASH IN COM 46121Y 10 2 5,815 297,146 SH SOLE 297,146 INVERNESS MED INNO NOTE 46126P AD 8 518 600,000 PRN SOLE 600,000 ISLE OF CAPRI CASI COM 464592 10 4 372 40,209 SH SOLE 40,209 J CREW GROUP INC COM 46612H 40 2 4,123 112,015 SH SOLE 112,015 JACK IN THE BOX IN COM 466367 10 9 12,261 629,413 SH SOLE 629,413 JANUS CAP GRO 47102X 10 5 34,963 3,936,557 SH SOLE 3,936,557 JANUS CAP GRO 47102X AG 0 982 965,000 SH SOLE 965,000 KBR INC COM 48242W 10 6 522 28,326 SH SOLE 28,326 K V PHARMACEUTICAL NOTE 482740 AC 1 1 275,000 PRN SOLE 275,000 KANSAS CITY SOUTHE COM NEW 485170 30 2 16,834 483,171 SH SOLE 483,171 KENEXA CORP COM 488879 10 7 4,797 399,717 SH SOLE 399,717 KEY ENERGY SVCS IN COM 492914 10 6 5,170 563,173 SH SOLE 563,173 KEYCORP NEW COM 493267 10 8 38,177 4,964,590 SH SOLE 4,964,590 KEYCORP NEW PFD 7.7 493267 40 5 562 5,900 SH SOLE 5,900 KID BRANDS INC COM 49375T 10 0 225 31,998 SH SOLE 31,998 KING PHARMACEUTICA COM 495582 10 8 18,826 2,477,746 SH SOLE 2,477,746 KING PHARMACEUTICA NOTE 495582 AJ 7 522 600,000 PRN SOLE 600,000 KODIAK OIL & GAS C COM 50015Q 10 0 233 73,106 SH SOLE 73,106 LABORATORY CORP AM COM NEW 50540R 40 9 24,593 327,057 SH SOLE 327,057 LABORATORY CORP AM NOTE 50540R AG 7 783 770,000 PRN SOLE 770,000 LAMAR ADVERTISING CL A 512815 10 1 4,835 197,185 SH SOLE 197,185 LANDSTAR SYS INC COM 515098 10 1 6,554 168,234 SH SOLE 168,234 LAS VEGAS SANDS CO COM 517834 10 7 5,632 257,186 SH SOLE 257,186 LEAR CORP COM NEW 521865 20 4 27,991 422,781 SH SOLE 422,781 LEGG MASON INC COM 524901 10 5 349 14,256 SH SOLE 14,256 LIFE TIME FITNESS COM 53217R 20 7 6,436 204,298 SH SOLE 204,298 LINCOLN NATL CORP COM 534187 10 9 29,515 1,216,500 SH SOLE 1,216,500 LIONS GATE ENTMNT COM NEW 535919 20 3 607 86,904 SH SOLE 86,904 LODGENET INTERACTI COM 540211 10 9 5,370 1,448,424 SH SOLE 1,448,424 LUCENT TECHNOLOGIE DBCV 549463 AH 0 861 1,020,000 SH SOLE 1,020,000 MGIC INVT CORP WIS COM 552848 10 3 4,551 660,517 SH SOLE 660,517 MGIC INVT CORP WIS NOTE 552848 AD 5 3,746 4,150,000 PRN SOLE 4,150,000 MHI HOSPITALITY CO COM 55302L 10 2 38 21,900 SH SOLE 21,900 MAGELLAN HEALTH SV COM NEW 559079 20 7 6,447 179,162 SH SOLE 179,162 MAGNUM HUNTER RES COM 55973B 10 2 312 71,465 SH SOLE 71,465 MARSHALL & ILSLEY COM 571837 10 3 32,800 4,568,119 SH SOLE 4,568,119 MATTEL INC COM 577081 10 2 4,849 229,132 SH SOLE 229,132 MAXIM INTEGRATED P COM 57772K 10 1 374 23,730 SH SOLE 23,730 MCAFEE INC COM 579064 10 6 24,711 804,391 SH SOLE 804,391 MICROS SYS INC COM 594901 10 0 4,769 150,731 SH SOLE 150,731 MICROSEMI CORP COM 595137 10 0 22,317 1,525,431 SH SOLE 1,525,431 MONSTER WORLDWIDE COM 611742 10 7 23,222 1,993,328 SH SOLE 1,993,328 NBTY INC COM 628782 10 4 488 17,384 SH SOLE 17,384 NII HLDGS INC CL B NE 62913F 20 1 28,082 878,858 SH SOLE 878,858 NAVISTAR INTL CO 63934E AL 2 1 235,000 SH SOLE 235,000 NETLIST INC COM 64118P 10 9 759 337,415 SH SOLE 337,415 NEUTRAL TANDEM INC COM 64128B 10 8 740 65,761 SH SOLE 65,761 NEWALLIANCE BANCSH COM 650203 10 2 123 10,651 SH SOLE 10,651 NEWCASTLE INVT COR COM 65105M 10 8 452 168,808 SH SOLE 168,808 NEWPARK RES INC COM PAR 651718 50 4 312 51,522 SH SOLE 51,522 NORTHERN OIL & GAS COM 665531 10 9 5,897 459,295 SH SOLE 459,295 NOVELL INC COM 670006 10 5 135 29,761 SH SOLE 29,761 NTELOS HLDGS CORP COM 67020Q 10 7 11,786 684,739 SH SOLE 684,739 O CHARLEYS INC COM 670823 10 3 266 50,146 SH SOLE 50,146 OCWEN FINL CORP COM NEW 675746 30 9 227 22,280 SH SOLE 22,280 OLD DOMINION FGHT COM 679580 10 0 23,757 676,067 SH SOLE 676,067 OMNICARE CAP TR 68214Q 20 0 3,843 107,950 SH SOLE 107,950 ON SEMICONDUCTOR C COM 682189 10 5 519 76,106 SH SOLE 76,106 ON SEMICONDUCTOR C NOTE 682189 AG 0 469 500,000 PRN SOLE 500,000 OPNEXT INC COM 68375V 10 5 8,984 5,445,182 SH SOLE 5,445,182 OWENS ILL INC COM NEW 690768 40 3 34,590 1,306,153 SH SOLE 1,306,153 PMC-SIERRA INC COM 69344F 10 6 19,769 2,626,605 SH SOLE 2,626,605 PACTIV CORP COM 695257 10 5 23,439 844,110 SH SOLE 844,110 PAETEC HOLDING COR COM 695459 10 7 20,885 6,131,436 SH SOLE 6,131,436 PANTRY INC COM 698657 10 3 540 38,287 SH SOLE 38,287 PEABODY ENERGY COR SDCV 704549 AG 9 860 880,000 SH SOLE 880,000 PEOPLES UNITED FIN COM 712704 10 5 207 13,715 SH SOLE 13,715 PETROHAWK ENERGY C COM 716495 10 6 21,126 1,240,625 SH SOLE 1,240,625 PFIZER INC COM 717081 10 3 381 26,735 SH SOLE 26,735 PHARMACEUTICAL PRO COM 717124 10 1 36,404 1,433,784 SH SOLE 1,433,784 PHARMERICA CORP COM 71714F 10 4 528 35,985 SH SOLE 35,985 PHILLIPS VAN HEUSE COM 718592 10 8 5,692 125,781 SH SOLE 125,781 PIER 1 IMPORTS INC COM 720279 10 8 6,180 964,235 SH SOLE 964,235 PINNACLE ENTMT INC COM 723456 10 9 18,225 1,927,033 SH SOLE 1,927,033 PITNEY BOWES INC COM 724479 10 0 3,498 159,271 SH SOLE 159,271 POPULAR INC COM 733174 10 6 249 93,000 SH SOLE 93,000 POWERWAVE TECHNOLO COM 739363 10 9 741 481,161 SH SOLE 481,161 POWERWAVE TECHNOLO NOTE 739363 AG 4 16,417 3,150,000 PRN SOLE 3,150,000 PROCERA NETWORKS I COM 74269U 10 4 1,272 2,777,806 SH SOLE 2,777,806 PROLOGIS SH BEN 743410 10 2 19,144 1,889,606 SH SOLE 1,889,606 PROLOGIS NOTE 743410 AY 8 163 180,000 PRN SOLE 180,000 PZENA INVESTMENT M CLASS A 74731Q 10 3 322 50,513 SH SOLE 50,513 QUIKSILVER INC COM 74838C 10 6 4,547 1,245,263 SH SOLE 1,245,263 RF MICRODEVICES IN COM 749941 10 0 334 87,616 SH SOLE 87,616 RALCORP HLDGS INC COM 751028 10 1 224 3,675 SH SOLE 3,675 RANGE RES CORP COM 75281A 10 9 8,181 203,549 SH SOLE 203,549 REGAL ENTMT GROUP CL A 758766 10 9 387 29,063 SH SOLE 29,063 REGIONS FINANCIAL COM 7591EP 10 0 25,428 3,884,888 SH SOLE 3,884,888 REX ENERGY CORPORA COM 761565 10 0 5,412 535,844 SH SOLE 535,844 RUSH ENTERPRISES I CL A 781846 20 9 281 21,060 SH SOLE 21,060 SBA COMMUNICATIONS COM 78388J 10 6 28,059 831,494 SH SOLE 831,494 SBA COMMUNICATIONS NOTE 78388J AM 8 7,003 5,440,000 PRN SOLE 5,440,000 SBA COMMUNICATIONS NOTE 78388J AN 6 464 460,000 PRN SOLE 460,000 SABA SOFTWARE INC COM NEW 784932 60 0 371 71,960 SH SOLE 71,960 SAKS INC COM 79377W 10 8 9,434 1,242,975 SH SOLE 1,242,975 SAVVIS INC COM NEW 805423 30 8 17,534 1,195,940 SH SOLE 1,195,940 SEACOAST BKG CORP COM 811707 30 6 498 374,250 SH SOLE 374,250 SHORETEL INC COM 825211 10 5 188 40,571 SH SOLE 40,571 SHUFFLE MASTER INC COM 825549 10 8 256 31,923 SH SOLE 31,923 SKILLED HEALTHCARE CL A 83066R 10 7 938 138,088 SH SOLE 138,088 SMITH & WESSON HLD COM 831756 10 1 504 123,153 SH SOLE 123,153 SMITHFIELD FOODS I COM 832248 10 8 20,254 1,359,079 SH SOLE 1,359,079 SMITHFIELD FOODS I NOTE 832248 AR 9 714 735,000 PRN SOLE 735,000 SOLAR CAP LTD 83413U 10 0 968 50,278 SH SOLE 50,278 SOLUTIA INC COM NEW 834376 50 1 11,485 876,667 SH SOLE 876,667 SONIC AUTOMOTIVE I NOTE 83545G AQ 5 3,295 3,325,000 PRN SOLE 3,325,000 STERLING BANCSHARE COM 858907 10 8 1,468 311,675 SH SOLE 311,675 SUN HEALTHCARE GRO COM NEW 866933 40 1 590 73,074 SH SOLE 73,074 SUNOPTA INC COM 8676EP 10 8 394 89,861 SH SOLE 89,861 SUNTRUST BKS INC COM 867914 10 3 9,228 406,091 SH SOLE 406,091 SWIFT ENERGY CO COM 870738 10 1 6,158 228,807 SH SOLE 228,807 SYNOVUS FINL CORP COM 87161C 10 5 45,703 17,993,682 SH SOLE 17,993,682 SYNOVUS FINL CORP UNIT 99 87161C 20 4 15,526 635,800 SH SOLE 635,800 TASTY BAKING CO COM 876553 30 6 517 71,558 SH SOLE 71,558 TELLABS INC COM 879664 10 0 3,748 586,400 SH SOLE 586,400 TERREMARK WORLDWID COM NEW 881448 20 3 9,240 1,187,160 SH SOLE 1,187,160 TERREMARK WORLDWID NOTE 881448 AF 1 2,417 2,450,000 PRN SOLE 2,450,000 TEXAS CAPITAL BANC COM 88224Q 10 7 557 34,489 SH SOLE 34,489 TITAN INTL INC ILL COM 88830M 10 2 7,353 740,524 SH SOLE 740,524 TOTAL SYS SVCS INC COM 891906 10 9 258 19,281 SH SOLE 19,281 TRIDENT MICROSYSTE COM 895919 10 8 217 152,733 SH SOLE 152,733 TRIQUINT SEMICONDU COM 89674K 10 3 4,718 775,853 SH SOLE 775,853 TRIUMPH GROUP INC COM 896818 10 1 307 4,609 SH SOLE 4,609 TRIUMPH GROUP INC NOTE 896818 AB 7 602 460,000 PRN SOLE 460,000 ULTA SALON COSMETC COM 90384S 30 3 7,650 323,399 SH SOLE 323,399 ULTRALIFE CORP COM 903899 10 2 848 197,302 SH SOLE 197,302 ULTRA PETROLEUM CO COM 903914 10 9 18,126 410,630 SH SOLE 410,630 UNITED CMNTY BKS B CAP STK 90984P 10 5 744 188,358 SH SOLE 188,358 URBAN OUTFITTERS I COM 917047 10 2 298 14,286 SH SOLE 14,286 V F CORP COM 918204 10 8 219 3,896 SH SOLE 3,896 VAIL RESORTS INC COM 91879Q 10 9 6,408 183,562 SH SOLE 183,562 VALUECLICK INC COM 92046N 10 2 19,589 1,832,973 SH SOLE 1,832,973 VARIAN MED SYS INC COM 92220P 10 5 18,654 356,800 SH SOLE 356,800 VERISIGN INC SDCV 92343E AD 4 751 820,000 SH SOLE 820,000 WMS INDS INC COM 929297 10 9 10,234 260,726 SH SOLE 260,726 WALTER ENERGY INC COM 93317Q 10 5 4,621 75,943 SH SOLE 75,943 WARNACO GROUP INC COM NEW 934390 40 2 5,022 139,382 SH SOLE 139,382 WEBSTER FINL CORP COM 947890 10 9 7,875 447,687 SH SOLE 447,687 WELLS FARGO & CO N PFD CNV 949746 80 4 31,212 33,525 SH SOLE 33,525 WESTERN ALLIANCE B COM 957638 10 9 5,752 802,284 SH SOLE 802,284 WET SEAL INC CL A 961840 10 5 17,890 4,901,368 SH SOLE 4,901,368 WHITING PETE CORP COM 966387 10 2 273 5,794 SH SOLE 5,794 WINTRUST FINANCIAL COM 97650W 10 8 8,517 255,460 SH SOLE 255,460 WRIGHT MED GROUP I COM 98235T 10 7 28,796 1,733,641 SH SOLE 1,733,641 WRIGHT MED GROUP I NOTE 98235T AA 5 1,433 1,655,000 PRN SOLE 1,655,000 WYNDHAM WORLDWIDE COM 98310W 10 8 5,288 267,397 SH SOLE 267,397 ZIMMER HLDGS INC COM 98956P 10 2 4,888 90,419 SH SOLE 90,419 ZIONS BANCORPORATI COM 989701 10 7 17,028 789,433 SH SOLE 789,433 ARGO GROUP INTL HL COM G0464B 10 7 4,855 158,710 SH SOLE 158,710 GLOBAL CROSSING LT SHS NEW G3921A 17 5 458 45,096 SH SOLE 45,096 INVESCO LTD SHS G491BT 10 8 4,298 255,244 SH SOLE 255,244 MARVELL TECHNOLOGY ORD G5876H 10 5 325 27,933 SH SOLE 27,933 ORIENT-EXPRESS HOT CL A G67743 10 7 3,738 505,101 SH SOLE 505,101 RENAISSANCERE HOLD COM G7496G 10 3 307 6,594 SH SOLE 6,594 SEAGATE TECHNOLOGY SHS G7945J 10 4 368 35,238 SH SOLE 35,238 ACE LTD SHS H0023R 10 5 4,730 92,195 SH SOLE 92,195 WEATHERFORD INTERN REG H27013 10 3 3,703 281,698 SH SOLE 281,698 TRANSOCEAN LTD REG SHS H8817H 10 0 236 5,100 SH SOLE 5,100 MILLICOM INTL CELL SHS NEW L6388F 11 0 4,028 51,464 SH SOLE 51,464 BLUEPHOENIX SOLUTI SHS M20157 10 9 179 146,537 SH SOLE 146,537 CERAGON NETWORKS L ORD M22013 10 2 4,109 556,600 SH SOLE 556,600 TOTAL 2,039,303 -----END PRIVACY-ENHANCED MESSAGE-----