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
Estimated average burden
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
3-D SYS CORP DEL COM NEW 88554D205 39,112 1,426,390 SH   SOLE 1,426,390 0 0
ALLIANCE BANCORP INC PA NEW COM 01890A108 236 10,928 SH   SOLE 10,928 0 0
ALON USA PARTNERS LP UT LTDPART INT 02052T109 3,219 176,000 SH   SOLE 176,000 0 0
ALTRIA GROUP INC COM 02209S103 1,416 28,300 SH   SOLE 28,300 0 0
AMEC FOSTER WHEELER PLC SPONSORED ADR 00167X205 15,223 1,139,476 SH   SOLE 1,139,476 0 0
ANGIES LIST INC COM 034754101 4,196 714,800 SH   SOLE 714,800 0 0
ANIKA THERAPEUTICS INC COM 035255108 2,614 63,500 SH   SOLE 63,500 0 0
AOL INC COM 00184X105 2,674 67,516 SH   SOLE 67,516 0 0
APOLLO ED GROUP INC CL A 037604105 1,910 100,972 SH   SOLE 100,972 0 0
APPLE INC COM 037833100 6,312 50,725 SH   SOLE 50,725 0 0
ARGAN INC COM 04010E109 3,053 84,400 SH   SOLE 84,400 0 0
ARRIS GROUP INC NEW COM 04270V106 2,456 85,000 SH   SOLE 85,000 0 0
ASB BANCORP INC N C COM 00213T109 591 28,825 SH   SOLE 28,825 0 0
AT&T INC COM 00206R102 16,325 500,000 SH   SOLE 500,000 0 0
BANK NEW YORK MELLON CORP COM 064058100 17,707 440,045 SH   SOLE 440,045 0 0
BED BATH & BEYOND INC COM 075896100 2,856 37,200 SH   SOLE 37,200 0 0
BENEFICIAL BANCORP INC COM 08171T102 912 80,799 SH   SOLE 80,799 0 0
BLOCK H & R INC COM 093671105 2,492 77,700 SH   SOLE 77,700 0 0
BLUCORA INC COM 095229100 2,295 168,000 SH   SOLE 168,000 0 0
BLUE HILLS BANCORP INC COM 095573101 141 10,647 SH   SOLE 10,647 0 0
BOOZ ALLEN HAMILTON HLDG COR CL A 099502106 2,882 99,600 SH   SOLE 99,600 0 0
BRINKS CO COM 109696104 9,671 350,000 SH   SOLE 350,000 0 0
BROCADE COMMUNICATIONS SYS I COM NEW 111621306 2,716 228,900 SH   SOLE 228,900 0 0
BUCKLE INC COM 118440106 2,728 53,400 SH   SOLE 53,400 0 0
CA INC COM 12673P105 3,145 96,450 SH   SOLE 96,450 0 0
CBIZ INC COM 124805102 2,846 305,000 SH   SOLE 305,000 0 0
CENTURYLINK INC COM 156700106 4,916 142,300 SH   SOLE 142,300 0 0
CHEVIOT FINL CORP NEW COM 16677X105 970 63,200 SH   SOLE 63,200 0 0
CISCO SYS INC COM 17275R102 2,684 97,500 SH   SOLE 97,500 0 0
CLIFTON BANCORP INC COM 186873105 574 40,671 SH   SOLE 40,671 0 0
COACH INC COM 189754104 2,942 71,000 SH   SOLE 71,000 0 0
COMMSCOPE HLDG CO INC COM 20337X109 3,139 110,000 SH   SOLE 110,000 0 0
COMPUTER SCIENCES CORP COM 205363104 2,650 40,600 SH   SOLE 40,600 0 0
CONNECTONE BANCORP INC NEW COM 20786W107 566 29,097 SH   SOLE 29,097 0 0
CYNOSURE INC CL A 232577205 3,619 118,000 SH   SOLE 118,000 0 0
DELUXE CORP COM 248019101 3,152 45,500 SH   SOLE 45,500 0 0
DICE HLDGS INC COM 253017107 2,774 311,000 SH   SOLE 311,000 0 0
DONNELLEY R R & SONS CO COM 257867101 1,049 54,650 SH   SOLE 54,650 0 0
DOVER CORP COM 260003108 2,212 32,000 SH   SOLE 32,000 0 0
DOVER MOTORSPORTS INC COM 260174107 1,180 497,800 SH   SOLE 497,800 0 0
EBIX INC COM NEW 278715206 5,408 178,000 SH   SOLE 178,000 0 0
EMCOR GROUP INC COM 29084Q100 2,881 62,000 SH   SOLE 62,000 0 0
EXPRESS SCRIPTS HLDG CO COM 30219G108 3,158 36,400 SH   SOLE 36,400 0 0
EXXON MOBIL CORP COM 30231G102 3,022 35,549 SH   SOLE 35,549 0 0
FOX CHASE BANCORP INC NEW COM 35137T108 1,273 75,620 SH   SOLE 75,620 0 0
FRANKLIN RES INC COM 354613101 3,284 64,000 SH   SOLE 64,000 0 0
GAMESTOP CORP NEW CL A 36467W109 2,422 63,800 SH   SOLE 63,800 0 0
GANNETT INC COM 364730101 2,929 79,000 SH   SOLE 79,000 0 0
GAP INC DEL COM 364760108 2,968 68,500 SH   SOLE 68,500 0 0
GILEAD SCIENCES INC COM 375558103 2,650 27,000 SH   SOLE 27,000 0 0
GOOGLE INC CL A 38259P508 444 800 SH   SOLE 800 0 0
GOOGLE INC CL C 38259P706 4,384 8,000 SH   SOLE 8,000 0 0
GRAHAM HLDGS CO COM 384637104 3,674 3,500 SH   SOLE 3,500 0 0
HASBRO INC COM 418056107 651 10,300 SH   SOLE 10,300 0 0
HEWLETT PACKARD CO COM 428236103 2,103 67,500 SH   SOLE 67,500 0 0
HIGHER ONE HLDGS INC COM 42983D104 808 334,000 SH   SOLE 334,000 0 0
ICONIX BRAND GROUP INC COM 451055107 7,475 222,000 SH   SOLE 222,000 0 0
INTEL CORP COM 458140100 914 29,237 SH   SOLE 29,237 0 0
INTELIQUENT INC COM 45825N107 3,395 215,698 SH   SOLE 215,698 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 10,995 68,502 SH   SOLE 68,502 0 0
INTERVAL LEISURE GROUP INC COM 46113M108 3,093 118,000 SH   SOLE 118,000 0 0
JOHNSON & JOHNSON COM 478160104 927 9,216 SH   SOLE 9,216 0 0
JPMORGAN CHASE & CO COM 46625H100 8,333 137,550 SH   SOLE 137,550 0 0
KONINKLIJKE PHILIPS N V NY REG SH NEW 500472303 15,587 550,000 SH   SOLE 550,000 0 0
LAPORTE BANCORP INC MD COM 516651106 173 13,334 SH   SOLE 13,334 0 0
LIQUIDITY SERVICES INC COM 53635B107 3,228 326,700 SH   SOLE 326,700 0 0
MADDEN STEVEN LTD COM 556269108 3,230 85,000 SH   SOLE 85,000 0 0
MALVERN BANCORP INC COM 561409103 294 21,770 SH   SOLE 21,770 0 0
MANPOWERGROUP INC COM 56418H100 3,446 40,000 SH   SOLE 40,000 0 0
MANTECH INTL CORP CL A 564563104 2,633 77,567 SH   SOLE 77,567 0 0
MEDTRONIC PLC SHS G5960L103 38,724 496,526 SH   SOLE 496,526 0 0
MICROSOFT CORP COM 594918104 13,619 334,978 SH   SOLE 334,978 0 0
NASDAQ OMX GROUP INC COM 631103108 6,317 124,000 SH   SOLE 124,000 0 0
NAUGATUCK VY FINL CORP MD COM 63906P107 191 20,800 SH   SOLE 20,800 0 0
NAVIGANT CONSULTING INC COM 63935N107 2,592 200,000 SH   SOLE 200,000 0 0
NEUSTAR INC CL A 64126X201 2,130 86,500 SH   SOLE 86,500 0 0
NEWS CORP NEW CL A 65249B109 40,585 2,535,000 SH   SOLE 2,535,000 0 0
NORTHERN TIER ENERGY LP COM UN REPR PART 665826103 2,787 110,000 SH   SOLE 110,000 0 0
NORTHROP GRUMMAN CORP COM 666807102 3,219 20,000 SH   SOLE 20,000 0 0
NU SKIN ENTERPRISES INC CL A 67018T105 3,595 59,700 SH   SOLE 59,700 0 0
ORACLE CORP COM 68389X105 6,671 154,600 SH   SOLE 154,600 0 0
OUTERWALL INC COM 690070107 2,724 41,200 SH   SOLE 41,200 0 0
OWENS ILL INC COM NEW 690768403 8,628 370,000 SH   SOLE 370,000 0 0
PACIFIC ETHANOL INC COM PAR $.001 69423U305 1,413 131,000 SH   SOLE 131,000 0 0
PARAGON OFFSHORE PLC SHS G6S01W108 1,164 895,000 SH   SOLE 895,000 0 0
PERFORMANT FINL CORP COM 71377E105 1,329 391,000 SH   SOLE 391,000 0 0
PETMED EXPRESS INC COM 716382106 2,759 167,000 SH   SOLE 167,000 0 0
PFIZER INC COM 717081103 25,434 731,079 SH   SOLE 731,079 0 0
POLONIA BACORP INC MD COM 73158Q109 244 19,486 SH   SOLE 19,486 0 0
PROCTER & GAMBLE CO COM 742718109 456 5,570 SH   SOLE 5,570 0 0
PRUDENTIAL BANCORP INC NEW COM 74431A101 889 70,000 SH   SOLE 70,000 0 0
QUALCOMM INC COM 747525103 17,682 255,000 SH   SOLE 255,000 0 0
REGAL ENTMT GROUP CL A 758766109 467 20,450 SH   SOLE 20,450 0 0
REX AMERICAN RESOURCES CORP COM 761624105 2,250 37,000 SH   SOLE 37,000 0 0
SANDISK CORP COM 80004C101 1,832 28,800 SH   SOLE 28,800 0 0
SEAGATE TECHNOLOGY PLC SHS G7945M107 2,341 45,000 SH   SOLE 45,000 0 0
SI FINL GROUP INC MD COM 78425V104 594 48,875 SH   SOLE 48,875 0 0
STARZ COM SER A 85571Q102 2,925 85,000 SH   SOLE 85,000 0 0
STONEGATE BK FT LAUDERDALE F COM 861811107 3,049 101,000 SH   SOLE 101,000 0 0
STRAYER ED INC COM 863236105 1,949 36,500 SH   SOLE 36,500 0 0
STURM RUGER & CO INC COM 864159108 3,216 64,800 SH   SOLE 64,800 0 0
SUNSHINE BANCORP INC COM 86777J108 171 13,750 SH   SOLE 13,750 0 0
SUSSEX BANCORP COM 869245100 332 29,534 SH   SOLE 29,534 0 0
SYMANTEC CORP COM 871503108 2,699 115,500 SH   SOLE 115,500 0 0
TOWNEBANK PORTSMOUTH VA COM 89214P109 2,581 160,480 SH   SOLE 160,480 0 0
TRC COS INC COM 872625108 46,328 5,568,257 SH   SOLE 5,568,257 0 0
USANA HEALTH SCIENCES INC COM 90328M107 3,085 27,759 SH   SOLE 27,759 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 31,161 640,783 SH   SOLE 640,783 0 0
VIACOM INC NEW CL B 92553P201 23,632 346,000 SH   SOLE 346,000 0 0
VISHAY INTERTECHNOLOGY INC COM 928298108 11,263 815,000 SH   SOLE 815,000 0 0
VODAFONE GROUP PLC NEW SPNSR ADR NO PAR 92857W308 477 14,591 SH   SOLE 14,591 0 0
WASTE MGMT INC DEL COM 94106L109 481 8,875 SH   SOLE 8,875 0 0
WATERSTONE FINL INC MD COM 94188P101 900 70,120 SH   SOLE 70,120 0 0
WESTBURY BANCORP INC COM 95727P106 431 24,643 SH   SOLE 24,643 0 0
WESTERN DIGITAL CORP COM 958102105 2,148 23,600 SH   SOLE 23,600 0 0
WESTERN UN CO COM 959802109 3,226 155,000 SH   SOLE 155,000 0 0