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