0001158202-13-000018.txt : 20130515
0001158202-13-000018.hdr.sgml : 20130515
20130515160202
ACCESSION NUMBER: 0001158202-13-000018
CONFORMED SUBMISSION TYPE: 13F-HR
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20130331
FILED AS OF DATE: 20130515
DATE AS OF CHANGE: 20130515
EFFECTIVENESS DATE: 20130515
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: 13846874
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
pcm1q201313f.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: March 31, 2013
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 May 15, 2013
Report Type (Check only one.):
[X] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT.
List of Other Managers Reporting for this Manager: 28-01190, 028-14511
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 305
Form 13F Information Table Value Total: 2,674,345
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
ACADIA HEALTHCARE COM 00404A 10 9 16,185 546,653 SH SOLE 546,653
ACCURAY INC COM 004397 10 5 1,290 278,075 SH SOLE 278,075
AEGION CORP COM 00770F 10 4 7,405 319,869 SH SOLE 319,869
AKAMAI TECHNOLOGIE COM 00971T 10 1 12,921 341,771 SH SOLE 341,771
ALERE INC NOTE 01449J AA 3 4,054 4,126,000 PRN SOLE 4,126,000
ALPHA NATURAL RESO COM 02076X 10 2 8,017 988,999 SH SOLE 988,999
ALPHA NATURAL RESO NOTE 02076X AA 0 8,086 8,500,000 PRN SOLE 8,500,000
AMCOL INTL CORP COM 02341W 10 3 652 21,582 SH SOLE 21,582
AMERICAN AXLE & MF COM 024061 10 3 4,070 298,176 SH SOLE 298,176
AMERISTAR CASINOS COM 03070Q 10 1 786 29,949 SH SOLE 29,949
APPROACH RESOURCES COM 03834A 10 3 3,942 160,197 SH SOLE 160,197
ARCH COAL INC COM 039380 10 0 74 13,600 SH SOLE 13,600
AUXILIUM PHARMACEU COM 05334D 10 7 11,966 698,762 SH SOLE 698,762
AUXILIUM PHARMACEU NOTE 05334D AA 5 5,412 5,345,000 PRN SOLE 5,345,000
AVIAT NETWORKS INC COM 05366Y 10 2 8,037 2,384,898 SH SOLE 2,384,898
AXIALL CORP COM 05463D 10 0 2,575 45,109 SH SOLE 45,109
BALLY TECHNOLOGIES COM 05874B 10 7 9,137 175,236 SH SOLE 175,236
BANK OF AMERICA CO PFD L 060505 68 2 39,519 32,340 SH SOLE 32,340
BARRETT BILL CORP COM 06846N 10 4 1,446 71,340 SH SOLE 71,340
BASIC ENERGY SVCS COM 06985P 10 0 2,100 153,611 SH SOLE 153,611
BEACON ROOFING SUP COM 073685 10 9 11,747 304,350 SH SOLE 304,350
BELO CORP COM SER 080555 10 5 46,447 4,653,786 SH SOLE 4,653,786
BIO-REFERENCE LABS COM $.0 09057G 60 2 1,076 41,408 SH SOLE 41,408
BIOSCRIP INC COM 09069N 10 8 1,111 80,186 SH SOLE 80,186
BJS RESTAURANTS IN COM 09180C 10 6 9,912 297,838 SH SOLE 297,838
BLOUNT INTL INC NE COM 095180 10 5 6,769 505,920 SH SOLE 505,920
BODY CENT CORP COM 09689U 10 2 1,691 179,858 SH SOLE 179,858
BOISE CASCADE CO D COM 09739D 10 0 2,253 66,385 SH SOLE 66,385
BROOKDALE SR LIVIN COM 112463 10 4 11,980 433,956 SH SOLE 433,956
Brookdale Senior L NOTE 112463 AA 2 5,363 4,444,000 PRN SOLE 4,444,000
BUFFALO WILD WINGS COM 119848 10 9 1,240 14,170 SH SOLE 14,170
CBS CORP NEW CL B 124857 20 2 5,116 110,418 SH SOLE 110,418
CBRE GROUP INC CL A 12504L 10 9 8,268 330,112 SH SOLE 330,112
CIT GROUP INC COM NEW 125581 80 1 2,339 54,343 SH SOLE 54,343
CPI AEROSTRUCTURES COM NEW 125919 30 8 1,816 211,873 SH SOLE 211,873
CABELAS INC COM 126804 30 1 12,445 201,918 SH SOLE 201,918
CABOT OIL & GAS CO COM 127097 10 3 16,178 238,817 SH SOLE 238,817
CADENCE DESIGN SYS COM 127387 10 8 29,392 2,114,158 SH SOLE 2,114,158
CALAVO GROWERS INC COM 128246 10 5 3,521 122,354 SH SOLE 122,354
CALLIDUS SOFTWARE COM 13123E 50 0 3,409 746,040 SH SOLE 746,040
CAMERON INTERNATIO COM 13342B 10 5 3,998 62,914 SH SOLE 62,914
CAMPUS CREST CMNTY COM 13466Y 10 5 2,895 208,257 SH SOLE 208,257
CAPITAL BK FINL CO CL A CO 139794 10 1 4,969 288,300 SH SOLE 288,300
CARMIKE CINEMAS IN COM 143436 40 0 2,008 110,810 SH SOLE 110,810
CAVIUM INC COM 14964U 10 8 22,904 614,990 SH SOLE 614,990
CBEYOND INC COM 149847 10 5 7,554 1,016,732 SH SOLE 1,016,732
CELANESE CORP DEL COM SER 150870 10 3 13,395 294,496 SH SOLE 294,496
CEMEX SAB DE CV NOTE 151290 BB 8 1,589 1,200,000 PRN SOLE 1,200,000
CENTENE CORP DEL COM 15135B 10 1 30,606 689,125 SH SOLE 689,125
CENTURY CASINOS IN COM 156492 10 0 1,019 356,459 SH SOLE 356,459
CEVA INC COM 157210 10 5 8,629 553,164 SH SOLE 553,164
CHART INDS INC COM PAR 16115Q 30 8 26,968 332,885 SH SOLE 332,885
CHART INDS INC NOTE 16115Q AC 4 2,797 2,066,000 PRN SOLE 2,066,000
CHEMTURA CORP COM NEW 163893 20 9 23,018 1,068,173 SH SOLE 1,068,173
CHICOS FAS INC COM 168615 10 2 27,859 1,633,889 SH SOLE 1,633,889
CIENA CORP NOTE 171779 AE 1 206 228,000 PRN SOLE 228,000
CINEMARK HOLDINGS COM 17243V 10 2 13,090 438,377 SH SOLE 438,377
CLEARWATER PAPER C COM 18538R 10 3 551 11,964 SH SOLE 11,964
COACH INC COM 189754 10 4 2,537 47,475 SH SOLE 47,475
COGENT COMM GROUP COM NEW 19239V 30 2 8,486 317,884 SH SOLE 317,884
COMERICA INC COM 200340 10 7 20,700 574,662 SH SOLE 574,662
COMSTOCK RES INC COM NEW 205768 20 3 434 26,701 SH SOLE 26,701
CONCHO RES INC COM 20605P 10 1 3,936 42,644 SH SOLE 42,644
CONSTELLATION BRAN CL A 21036P 10 8 20,158 418,798 SH SOLE 418,798
CONTINENTAL RESOUR COM 212015 10 1 3,353 40,036 SH SOLE 40,036
CROWN HOLDINGS INC COM 228368 10 6 12,782 305,713 SH SOLE 305,713
DSW INC CL A 23334L 10 2 19,408 302,195 SH SOLE 302,195
DEL FRISCOS RESTAU COM 245077 10 2 2,578 155,331 SH SOLE 155,331
DELEK US HLDGS INC COM 246647 10 1 5,671 145,348 SH SOLE 145,348
DICKS SPORTING GOO COM 253393 10 2 3,220 67,675 SH SOLE 67,675
DIGITAL CINEMA DES CL A CO 25383B 10 9 639 104,750 SH SOLE 104,750
DISH NETWORK CORP CL A 25470M 10 9 3,900 101,557 SH SOLE 101,557
DOLE FOOD CO INC N COM 256603 10 1 4,995 458,266 SH SOLE 458,266
DRESSER-RAND GROUP COM 261608 10 3 4,043 68,657 SH SOLE 68,657
E M C CORP MASS NOTE 268648 AM 4 4,963 3,325,000 PRN SOLE 3,325,000
EAGLE BANCORP INC COM 268948 10 6 6,914 315,850 SH SOLE 315,850
EXCO RESOURCES INC COM 269279 40 2 7,073 989,600 SH SOLE 989,600
EAGLE MATERIALS IN COM 26969P 10 8 8,521 127,608 SH SOLE 127,608
EDWARDS LIFESCIENC COM 28176E 10 8 1,393 16,951 SH SOLE 16,951
EMERITUS CORP COM 291005 10 6 4,339 156,142 SH SOLE 156,142
EMULEX CORP COM NEW 292475 20 9 4,131 632,611 SH SOLE 632,611
ESTERLINE TECHNOLO COM 297425 10 0 14,816 196,037 SH SOLE 196,037
EVERCORE PARTNERS CLASS A 29977A 10 5 12,170 296,293 SH SOLE 296,293
EXELIS INC COM 30162A 10 8 10,709 977,493 SH SOLE 977,493
EXFO INC SUB VTG 302046 10 7 1,790 351,667 SH SOLE 351,667
EXPRESS INC COM 30219E 10 3 8,557 480,474 SH SOLE 480,474
F M C CORP COM NEW 302491 30 3 2,413 41,118 SH SOLE 41,118
FXCM INC COM CL 302693 10 6 1,407 102,852 SH SOLE 102,852
FELCOR LODGING TR COM 31430F 10 1 20,177 3,389,854 SH SOLE 3,389,854
FIFTH STREET FINAN COM 31678A 10 3 4,762 432,160 SH SOLE 432,160
FINISAR CORP COM NEW 31787A 50 7 14,547 1,105,682 SH SOLE 1,105,682
FINISH LINE INC CL A 317923 10 0 1,491 76,106 SH SOLE 76,106
FIRST HORIZON NATL COM 320517 10 5 25,931 2,436,859 SH SOLE 2,436,859
FIRST MIDWEST BANC COM 320867 10 4 5,373 404,592 SH SOLE 404,592
FIRSTMERIT CORP COM 337915 10 2 19,294 1,163,024 SH SOLE 1,163,024
FLOW INTL CORP COM 343468 10 4 3,820 977,072 SH SOLE 977,072
FLOWSERVE CORP COM 34354P 10 5 11,327 68,487 SH SOLE 68,487
FORD MTR CO DEL NOTE 345370 CN 8 4,038 2,520,000 PRN SOLE 2,520,000
FRANCESCAS HLDGS C COM 351793 10 4 3,583 125,000 SH SOLE 125,000
GENERAL MTRS CO JR PFD CNV 37045V 20 9 1,267 29,500 SH SOLE 29,500
GENESEE & WYO INC CL A 371559 10 5 2,433 27,547 SH SOLE 27,547
GRAY TELEVISION IN COM 389375 10 6 1,136 242,125 SH SOLE 242,125
GREENBRIER COS INC COM 393657 10 1 4,783 210,610 SH SOLE 210,610
GREENBRIER COS INC NOTE 393657 AH 4 3,760 3,723,000 PRN SOLE 3,723,000
GULFPORT ENERGY CO COM NEW 402635 30 4 33,002 703,480 SH SOLE 703,480
HFF INC CL A 40418F 10 8 18,846 941,213 SH SOLE 941,213
HAIN CELESTIAL GRO COM 405217 10 0 14,672 238,256 SH SOLE 238,256
HANCOCK HLDG CO COM 410120 10 9 24,205 782,834 SH SOLE 782,834
HARRIS CORP DEL COM 413875 10 5 1,640 35,396 SH SOLE 35,396
HARTFORD FINL SVCS COM 416515 10 4 3,475 129,421 SH SOLE 129,421
HELIX ENERGY SOLUT COM 42330P 10 7 16,954 739,841 SH SOLE 739,841
HERCULES OFFSHORE COM 427093 10 9 34,522 4,657,013 SH SOLE 4,657,013
HERCULES TECH GROW CAP INC 427096 50 8 2,936 239,685 SH SOLE 239,685
HERSHA HOSPITALITY SH BEN 427825 10 4 7,818 1,338,725 SH SOLE 1,338,725
HERSHEY CO COM 427866 10 8 1,287 14,699 SH SOLE 14,699
HEXCEL CORP NEW COM 428291 10 8 11,219 384,359 SH SOLE 384,359
HOLOGIC INC COM 436440 10 1 20,496 927,553 SH SOLE 927,553
HOLOGIC INC FRNT 2 436440 AA 9 3,388 3,375,000 SH SOLE 3,375,000
HOLOGIC INC DEBT 2 436440 AC 5 5,796 5,533,000 SH SOLE 5,533,000
HOME BANCSHARES IN COM 436893 20 0 6,004 159,372 SH SOLE 159,372
HOME PROPERTIES IN COM 437306 10 3 5,920 93,139 SH SOLE 93,139
HORNBECK OFFSHORE FRNT 1 440543 AE 6 276 257,000 SH SOLE 257,000
HOST HOTELS & RESO COM 44107P 10 4 3,618 202,756 SH SOLE 202,756
HUNTINGTON BANCSHA PFD CON 446150 40 1 2,720 2,125 SH SOLE 2,125
IDEX CORP COM 45167R 10 4 11,249 211,937 SH SOLE 211,937
ILLUMINA INC COM 452327 10 9 20,023 354,555 SH SOLE 354,555
IMAX CORP COM 45245E 10 9 9,068 341,510 SH SOLE 341,510
INPHI CORP COM 45772F 10 7 422 40,407 SH SOLE 40,407
INTEL CORP COM 458140 10 0 924 42,300 SH SOLE 42,300
INTEL CORP SDCV 458140 AF 7 4,078 3,388,000 SH SOLE 3,388,000
INTERFACE INC COM 458665 30 4 10,545 548,667 SH SOLE 548,667
INTL PAPER CO COM 460146 10 3 2,786 59,576 SH SOLE 59,576
ISHARES TR RUSSELL 464287 49 9 694 5,381 SH SOLE 5,381
ISHARES TR RUSSELL 464287 65 5 478 5,081 SH SOLE 5,081
ISHARES TR HIGH YL 464288 51 3 1,796 19,040 SH SOLE 19,040
ISLE OF CAPRI CASI COM 464592 10 4 3,625 576,362 SH SOLE 576,362
JDS UNIPHASE CORP COM PAR 46612J 50 7 21,673 1,617,340 SH SOLE 1,617,340
JABIL CIRCUIT INC COM 466313 10 3 19,216 1,048,223 SH SOLE 1,048,223
JOES JEANS INC COM 47777N 10 1 1,103 648,701 SH SOLE 648,701
JONES LANG LASALLE COM 48020Q 10 7 20,765 209,068 SH SOLE 209,068
JOY GLOBAL INC COM 481165 10 8 3,342 57,671 SH SOLE 57,671
KBR INC COM 48242W 10 6 15,870 503,829 SH SOLE 503,829
KAISER ALUMINUM CO COM PAR 483007 70 4 11,207 173,855 SH SOLE 173,855
KANSAS CITY SOUTHE COM NEW 485170 30 2 13,436 121,519 SH SOLE 121,519
KEY ENERGY SVCS IN COM 492914 10 6 21,310 2,672,092 SH SOLE 2,672,092
KEYCORP NEW COM 493267 10 8 1,674 168,087 SH SOLE 168,087
KEYCORP NEW PFD 7.7 493267 40 5 2,856 22,042 SH SOLE 22,042
KIRBY CORP COM 497266 10 6 15,111 198,169 SH SOLE 198,169
KODIAK OIL & GAS C COM 50015Q 10 0 8,218 919,301 SH SOLE 919,301
LMI AEROSPACE INC COM 502079 10 6 2,671 128,469 SH SOLE 128,469
LAM RESEARCH CORP NOTE 512807 AL 2 2,691 2,522,000 PRN SOLE 2,522,000
LAMAR ADVERTISING CL A 512815 10 1 3,026 62,245 SH SOLE 62,245
LASALLE HOTEL PPTY COM SH 517942 10 8 9,495 372,134 SH SOLE 372,134
LEAR CORP COM NEW 521865 20 4 13,629 245,872 SH SOLE 245,872
LIMONEIRA CO COM 532746 10 4 1,819 94,149 SH SOLE 94,149
LIN TV CORP CL A 532774 10 6 2,691 244,884 SH SOLE 244,884
LIONS GATE ENTMNT COM NEW 535919 20 3 3,247 133,889 SH SOLE 133,889
LITHIA MTRS INC CL A 536797 10 3 20,037 420,361 SH SOLE 420,361
LITTELFUSE INC COM 537008 10 4 879 12,950 SH SOLE 12,950
LOUISIANA PAC CORP COM 546347 10 5 14,072 678,246 SH SOLE 678,246
MGM MIRAGE COM 552953 10 1 16,395 1,219,271 SH SOLE 1,219,271
MGM RESORTS INTERN NOTE 55303Q AE 0 4,901 4,514,000 PRN SOLE 4,514,000
MACYS INC COM 55616P 10 4 4,259 98,839 SH SOLE 98,839
MADISON SQUARE GAR CL A 55826P 10 0 13,651 233,803 SH SOLE 233,803
MAGNUM HUNTER RES COM 55973B 10 2 12,469 3,169,594 SH SOLE 3,169,594
MANITOWOC INC COM 563571 10 8 16,697 820,541 SH SOLE 820,541
MARTEN TRANS LTD COM 573075 10 8 2,777 137,953 SH SOLE 137,953
MASCO CORP COM 574599 10 6 5,465 272,295 SH SOLE 272,295
MASSEY ENERGY CO NOTE 576203 AJ 2 30,489 31,677,000 PRN SOLE 31,677,000
MASTEC INC COM 576323 10 9 11,906 411,331 SH SOLE 411,331
MATTRESS FIRM HLDG COM 57722W 10 6 12,299 352,127 SH SOLE 352,127
MEADOWBROOK INS GR COM 58319P 10 8 2,081 295,243 SH SOLE 295,243
MEDIA GEN INC CL A 584404 10 7 3,780 636,380 SH SOLE 636,380
MEDNAX INC COM 58502B 10 6 3,524 39,715 SH SOLE 39,715
MICROCHIP TECHNOLO COM 595017 10 4 2,737 74,753 SH SOLE 74,753
MICRON TECHNOLOGY DEBT 1 595112 AK 9 888 840,000 SH SOLE 840,000
MICRON TECHNOLOGY NOTE 595112 AQ 6 1,508 1,300,000 PRN SOLE 1,300,000
MISTRAS GROUP INC COM 60649T 10 7 2,126 87,818 SH SOLE 87,818
MOLINA HEALTHCARE NOTE 60855R AA 8 2,694 2,273,000 PRN SOLE 2,273,000
MUELLER WTR PRODS COM SER 624758 10 8 1,089 183,646 SH SOLE 183,646
MYLAN INC COM 628530 10 7 3,228 111,213 SH SOLE 111,213
NEWPARK RES INC NOTE 651718 AC 2 117 100,000 PRN SOLE 100,000
NEXSTAR BROADCASTI CL A 65336K 10 3 13,134 704,636 SH SOLE 704,636
NISOURCE INC COM 65473P 10 5 7,686 258,921 SH SOLE 258,921
OASIS PETE INC NEW COM 674215 10 8 7,834 208,527 SH SOLE 208,527
OCLARO INC COM NEW 67555N 20 6 2,365 1,876,743 SH SOLE 1,876,743
OIL STS INTL INC COM 678026 10 5 3,147 37,516 SH SOLE 37,516
OMNICARE INC DBCV 681904 AL 2 6,774 6,732,000 SH SOLE 6,732,000
ON SEMICONDUCTOR C COM 682189 10 5 143 17,225 SH SOLE 17,225
ON SEMICONDUCTOR C NOTE 682189 AH 8 5,612 4,953,000 PRN SOLE 4,953,000
OWENS CORNING NEW COM 690742 10 1 15,271 381,946 SH SOLE 381,946
OXFORD INDS INC COM 691497 30 9 5,455 102,725 SH SOLE 102,725
PVH CORP COM 693656 10 0 1,903 17,265 SH SOLE 17,265
PAREXEL INTL CORP COM 699462 10 7 2,156 54,570 SH SOLE 54,570
PARK STERLING CORP COM 70086Y 10 5 5,176 917,647 SH SOLE 917,647
PEBBLEBROOK HOTEL COM 70509V 10 0 11,445 440,919 SH SOLE 440,919
PENN NATL GAMING I COM 707569 10 9 20,478 370,526 SH SOLE 370,526
PENSKE AUTOMOTIVE COM 70959W 10 3 21,887 669,248 SH SOLE 669,248
PERKINELMER INC COM 714046 10 9 11,190 336,578 SH SOLE 336,578
PETROQUEST ENERGY COM 716748 10 8 1,235 278,085 SH SOLE 278,085
PINNACLE ENTMT INC COM 723456 10 9 17,795 1,186,960 SH SOLE 1,186,960
PINNACLE FINL PART COM 72346Q 10 4 3,231 138,304 SH SOLE 138,304
POLYONE CORP COM 73179P 10 6 8,291 343,920 SH SOLE 343,920
POPULAR INC COM NEW 733174 70 0 879 30,838 SH SOLE 30,838
PRIMORIS SVCS CORP COM 74164F 10 3 2,689 121,636 SH SOLE 121,636
PRIVATEBANCORP INC COM 742962 10 3 11,588 611,088 SH SOLE 611,088
PROOFPOINT INC COM 743424 10 3 4,640 275,206 SH SOLE 275,206
PROS HOLDINGS INC COM 74346Y 10 3 937 34,469 SH SOLE 34,469
PZENA INVESTMENT M CLASS A 74731Q 10 3 3,587 551,858 SH SOLE 551,858
QLIK TECHNOLOGIES COM 74733T 10 5 26,953 1,042,185 SH SOLE 1,042,185
QUANTA SVCS INC COM 74762E 10 2 25,073 884,726 SH SOLE 884,726
RF MICRODEVICES IN COM 749941 10 0 38,072 7,108,559 SH SOLE 7,108,559
RAYMOND JAMES FINA COM 754730 10 9 11,972 269,080 SH SOLE 269,080
REALOGY HLDGS CORP COM 75605Y 10 6 7,006 145,051 SH SOLE 145,051
RED ROBIN GOURMET COM 75689M 10 1 5,844 128,147 SH SOLE 128,147
REGAL BELOIT CORP COM 758750 10 3 11,754 144,894 SH SOLE 144,894
REGIONS FINANCIAL COM 7591EP 10 0 5,508 664,190 SH SOLE 664,190
REPUBLIC SVCS INC COM 760759 10 0 3,417 102,023 SH SOLE 102,023
RIVERBED TECHNOLOG COM 768573 10 7 17,350 1,164,134 SH SOLE 1,164,134
ROCKWELL COLLINS I COM 774341 10 1 3,361 53,329 SH SOLE 53,329
ROSS STORES INC COM 778296 10 3 3,271 51,831 SH SOLE 51,831
RYMAN HOSPITALITY COM 78377T 10 7 23,158 508,762 SH SOLE 508,762
SBA COMMUNICATIONS COM 78388J 10 6 21,164 285,942 SH SOLE 285,942
SBA COMMUNICATIONS NOTE 78388J AM 8 2,803 1,169,000 PRN SOLE 1,169,000
SHFL ENTMT INC COM 78423R 10 5 3,541 213,682 SH SOLE 213,682
SL GREEN RLTY CORP COM 78440X 10 1 2,922 33,931 SH SOLE 33,931
SVB FINL GROUP COM 78486Q 10 1 10,870 153,186 SH SOLE 153,186
SCRIPPS E W CO OHI CL A NE 811054 40 2 2,007 166,820 SH SOLE 166,820
SEQUENOM INC COM NEW 817337 40 5 1,029 247,848 SH SOLE 247,848
SERVICESOURCE INTL COM 81763U 10 0 7,811 1,104,756 SH SOLE 1,104,756
SHORETEL INC COM 825211 10 5 10,123 2,788,604 SH SOLE 2,788,604
SINCLAIR BROADCAST CL A 829226 10 9 40,289 1,888,602 SH SOLE 1,888,602
SMITH A O COM 831865 20 9 14,323 193,265 SH SOLE 193,265
SOLAR CAP LTD 83413U 10 0 4,539 192,758 SH SOLE 192,758
SOUTHWESTERN ENERG COM 845467 10 9 3,230 86,482 SH SOLE 86,482
SPARTAN MTRS INC COM 846819 10 0 2,842 535,291 SH SOLE 535,291
SPIRIT AIRLS INC COM 848577 10 2 12,078 473,145 SH SOLE 473,145
STARWOOD HOTELS&RE COM 85590A 40 1 3,534 55,148 SH SOLE 55,148
STIFEL FINL CORP COM 860630 10 2 16,287 472,968 SH SOLE 472,968
STRATEGIC HOTELS & COM 86272T 10 6 84 10,000 SH SOLE 10,000
SUMMIT HOTEL PPTYS COM 866082 10 0 1,097 104,746 SH SOLE 104,746
SUNOPTA INC COM 8676EP 10 8 4,944 686,631 SH SOLE 686,631
SWIFT TRANSN CO CL A 87074U 10 1 1,452 102,386 SH SOLE 102,386
SYNOVUS FINL CORP COM 87161C 10 5 10,110 3,669,354 SH SOLE 3,669,354
SYNOVUS FINL CORP UNIT 99 87161C 20 4 3,785 155,450 SH SOLE 155,450
TRW AUTOMOTIVE HLD COM 87264S 10 6 5,037 89,702 SH SOLE 89,702
TTM TECHNOLOGIES COM 87305R 10 9 2,511 330,414 SH SOLE 330,414
TTM TECHNOLOGIES NOTE 87305R AC 3 10,937 10,971,000 PRN SOLE 10,971,000
TANGER FACTORY OUT COM 875465 10 6 11,175 306,910 SH SOLE 306,910
TEAM HEALTH HOLDIN COM 87817A 10 7 13,218 362,147 SH SOLE 362,147
TENET HEALTHCARE C COM NEW 88033G 40 7 22,455 475,143 SH SOLE 475,143
TERADYNE INC COM 880770 10 2 12,746 784,296 SH SOLE 784,296
TERADYNE INC NOTE 880770 AE 2 1,969 663,000 PRN SOLE 663,000
TEREX CORP NEW COM 880779 10 3 16,515 499,579 SH SOLE 499,579
TESORO CORP COM 881609 10 1 6,025 105,198 SH SOLE 105,198
TEXAS ROADHOUSE IN CL A 882681 10 9 8,584 416,302 SH SOLE 416,302
TIMKEN CO COM 887389 10 4 11,514 207,773 SH SOLE 207,773
TITAN MACHY INC COM 88830R 10 1 7,604 274,025 SH SOLE 274,025
TRAVELCENTERS OF A COM 894174 10 1 775 80,830 SH SOLE 80,830
TRINITY INDS INC COM 896522 10 9 18,016 402,160 SH SOLE 402,160
TRINITY INDS INC NOTE 896522 AF 6 1,809 1,494,000 PRN SOLE 1,494,000
TRIQUINT SEMICONDU COM 89674K 10 3 14,943 2,939,832 SH SOLE 2,939,832
TRIUMPH GROUP INC COM 896818 10 1 28,696 364,136 SH SOLE 364,136
II VI INC COM 902104 10 8 7,498 440,049 SH SOLE 440,049
TYLER TECHNOLOGIES COM 902252 10 5 9,746 158,419 SH SOLE 158,419
U S G CORP COM NEW 903293 40 5 32,852 1,246,779 SH SOLE 1,246,779
UNIVERSAL HLTH SVC CL B 913903 10 0 3,546 54,465 SH SOLE 54,465
VAIL RESORTS INC COM 91879Q 10 9 872 14,000 SH SOLE 14,000
VANGUARD HEALTH SY COM 922036 20 7 12,276 827,110 SH SOLE 827,110
VARIAN MED SYS INC COM 92220P 10 5 6,253 86,844 SH SOLE 86,844
VERA BRADLEY INC COM 92335C 10 6 25,521 1,083,789 SH SOLE 1,083,789
WSFS FINL CORP COM 929328 10 2 4,766 97,994 SH SOLE 97,994
WALTER ENERGY INC COM 93317Q 10 5 1,972 69,187 SH SOLE 69,187
WEBMD HEALTH CORP NOTE 94770V AF 9 4,318 4,693,000 PRN SOLE 4,693,000
WELLCARE HEALTH PL COM 94946T 10 6 4,620 79,715 SH SOLE 79,715
WELLS FARGO & CO N PFD CNV 949746 80 4 54,456 42,255 SH SOLE 42,255
WESTERN ALLIANCE B COM 957638 10 9 19,714 1,416,776 SH SOLE 1,416,776
WHITING PETE CORP COM 966387 10 2 13,458 272,097 SH SOLE 272,097
WINTRUST FINANCIAL COM 97650W 10 8 4,677 126,282 SH SOLE 126,282
WISDOMTREE INVTS I COM 97717P 10 4 4,598 442,108 SH SOLE 442,108
WOODWARD GOVERNOR COM 980745 10 3 8,778 222,961 SH SOLE 222,961
WYNDHAM WORLDWIDE COM 98310W 10 8 3,618 57,910 SH SOLE 57,910
WYNN RESORTS LTD COM 983134 10 7 3,574 27,464 SH SOLE 27,464
XILINX INC COM 983919 10 1 3,805 99,985 SH SOLE 99,985
XERIUM TECHNOLOGIE COM NEW 98416J 11 8 484 88,966 SH SOLE 88,966
ZIONS BANCORPORATI COM 989701 10 7 21,446 861,030 SH SOLE 861,030
ARCH CAP GRO G0450A 10 5 12,936 245,503 SH SOLE 245,503
FLEETMATICS GROUP COM G35569 10 5 8,429 349,417 SH SOLE 349,417
FREESCALE SEMICOND Common G3727Q 10 1 12,535 832,167 SH SOLE 832,167
ICON PLC SHS G4705A 10 0 23,615 731,922 SH SOLE 731,922
INVESCO LTD SHS G491BT 10 8 3,228 106,791 SH SOLE 106,791
NORWEGIAN CRUISE L SHS G66721 10 4 6,867 228,387 SH SOLE 228,387
ORIENT-EXPRESS HOT CL A G67743 10 7 6,256 632,262 SH SOLE 632,262
ROWAN COMPANIES PL SHS CL G7665A 10 1 11,485 331,447 SH SOLE 331,447
VANTAGE DRILLING C ORD SHS G93205 11 3 3,544 2,025,215 SH SOLE 2,025,215
WARNER CHILCOTT PL SHS A G94368 10 0 12,062 880,108 SH SOLE 880,108
WEATHERFORD INTERN REG H27013 10 3 1,529 119,564 SH SOLE 119,564
FOSTER WHEELER AG COM H27178 10 4 10,151 449,196 SH SOLE 449,196
TRANSOCEAN LTD REG SHS H8817H 10 0 1,065 20,493 SH SOLE 20,493
PACIFIC DRILLING S REG SHS L7257P 10 6 3,341 331,483 SH SOLE 331,483
CAESARSTONE SDOT-Y ORD SHS M20598 10 4 3,889 147,308 SH SOLE 147,308
CHECK POINT SOFTWA ORD M22465 10 4 3,275 69,892 SH SOLE 69,892
CLICKSOFTWARE TECH ORD M25082 10 4 697 86,699 SH SOLE 86,699
RADWARE LTD ORD M81873 10 7 11,260 333,486 SH SOLE 333,486
SYNERON MEDICAL LT ORD SHS M87245 10 2 3,513 343,755 SH SOLE 343,755
TOTAL 2,674,345