RBF Capital 13F-HR Quarterly holdings report by institutional manager

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

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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
A. H. BELO CORPORATION CMN SERIES A	Common Stock	001282102	219	20,485	SH		SOLE		20,485	0	0
ACI WORLDWIDE INC CMN	Common Stock	004498101	225	12,000	SH		SOLE		12,000	0	0
ACTIONS SEMICONDUCTOR CO., LTD*. ADR CMN	ADR	00507E107	579	265,683	SH		SOLE		265,683	0	0
ADVANCED MICRO DEVICES INC CMN	Common Stock	007903107	341	99,895	SH		SOLE		99,895	0	0
AEP INDUSTRIES INC CMN	Common Stock	001031103	1,401	37,000	SH		SOLE		37,000	0	0
AETNA INC CMN	Common Stock	00817Y108	405	5,000	SH		SOLE		5,000	0	0
AGILYSYS INC CMN	Common Stock	00847J105	264	22,505	SH		SOLE		22,505	0	0
ALLIANCEBERNSTEIN HOLDING LP CMN	MLP	01881G106	780	30,000	SH		SOLE		30,000	0	0
AMERCO CMN	Common Stock	023586100	733	2,800	SH		SOLE		2,800	0	0
AMERICAN EXPRESS CO. CMN	Common Stock	025816109	1,313	15,000	SH		SOLE		15,000	0	0
AMERICAN INTL GROUP, INC. CMN	Common Stock	026874784	3,295	61,000	SH		SOLE		61,000	0	0
AMERICAN TOWER CORPORATION CMN	REIT	03027X100	1,873	20,000	SH		SOLE		20,000	0	0
AMKOR TECHNOLOGIES INC CMN	Common Stock	031652100	93	10,999	SH		SOLE		10,999	0	0
ANADARKO PETROLEUM CORP CMN	Common Stock	032511107	203	2,000	SH		SOLE		2,000	0	0
AON PLC CMN	Common Stock	G0408V102	263	3,000	SH		SOLE		3,000	0	0
APOLLO GLOBAL MANAGEMENT, LLC CMN CLASS A	MLP	037612306	238	10,000	SH		SOLE		10,000	0	0
ARLINGTON ASSET INVESTMENT COR*P CMN CLASS A	Common Stock	041356205	203	8,001	SH		SOLE		8,001	0	0
ARROW ELECTRONICS INC. CMN	Common Stock	042735100	554	10,000	SH		SOLE		10,000	0	0
ASPEN INSURANCE HOLDINGS LTD CMN	Common Stock	G05384105	1,711	40,000	SH		SOLE		40,000	0	0
ASTA FUNDING INC CMN	Common Stock	046220109	1,642	200,000	SH		SOLE		200,000	0	0
AUTODESK INC CMN	Common Stock	052769106	551	10,000	SH		SOLE		10,000	0	0
AVID TECHNOLOGY, INC. CMN	Common Stock	05367P100	393	38,906	SH		SOLE		38,906	0	0
AVNET INC. CMN	Common Stock	053807103	623	15,000	SH		SOLE		15,000	0	0
AXIS CAPITAL HOLDINGS, LTD. CMN	Common Stock	G0692U109	237	5,000	SH		SOLE		5,000	0	0
BAKER HUGHES INC CMN	Common Stock	057224107	651	10,000	SH		SOLE		10,000	0	0
BALTIC TRADING LTD CMN	Common Stock	Y0553W103	250	60,411	SH		SOLE		60,411	0	0
BANK OF AMERICA CORP CMN	Common Stock	060505104	12,958	760,000	SH		SOLE		760,000	0	0
BANK OF MARIN BANCORP CMN	Common Stock	063425102	232	5,046	SH		SOLE		5,046	0	0
BEASLEY BROADCAST GROUP INC CMN CLASS A	Common Stock	074014101	174	32,469	SH		SOLE		32,469	0	0
BEL FUSE INC CL-B CMN CLASS B	Common Stock	077347300	357	14,435	SH		SOLE		14,435	0	0
BENCHMARK ELECTRONICS INC CMN	Common Stock	08160H101	222	10,000	SH		SOLE	��	10,000	0	0
BERKSHIRE HATHAWAY INC CL-A (DEL) CLASSA	Common Stock	084670108	44,484	215	SH		SOLE		215	0	0
BLYTH, INC. CMN	Common Stock	09643P207	1,791	220,600	SH		SOLE		220,600	0	0
BP P.L.C. SPONSORED ADR CMN	ADR	055622104	879	20,000	SH		SOLE		20,000	0	0
BROADWIND ENERGY INC. CMN	Common Stock	11161T207	1,033	137,894	SH		SOLE		137,894	0	0
BRUNSWICK CORP. CMN	Common Stock	117043109	211	5,000	SH		SOLE		5,000	0	0
C D I CORP CMN	Common Stock	125071100	505	34,787	SH		SOLE		34,787	0	0
CAMBREX CORPORATION CMN	Common Stock	132011107	187	10,000	SH		SOLE		10,000	0	0
CAMPBELL SOUP CO CMN	Common Stock	134429109	855	20,000	SH		SOLE		20,000	0	0
CAPITAL ONE FINANCIAL CORP CMN	Common Stock	14040H105	1,632	20,000	SH		SOLE		20,000	0	0
CAREER EDUCATION CORP CMN	Common Stock	141665109	489	96,317	SH		SOLE		96,317	0	0
CARRIAGE SERVICES, INC. CMN	Common Stock	143905107	3,129	180,557	SH		SOLE		180,557	0	0
CARROLS RESTAURANT GROUP INC CMN	Common Stock	14574X104	1,543	217,000	SH		SOLE		217,000	0	0
CECO ENVIRONMENTAL CORP CMN	Common Stock	125141101	634	47,293	SH		SOLE		47,293	0	0
CENTRAL GARDEN & PET CO CMN	Common Stock	153527106	541	69,767	SH		SOLE		69,767	0	0
CENTRAL GARDEN & PET COMPANY CMN CLASS ANON VOTING SHARES	Common Stock	153527205	263	32,764	SH		SOLE		32,764	0	0
CENTURY CASINOS INC CMN	Common Stock	156492100	513	100,000	SH		SOLE		100,000	0	0
CF INDUSTRIES HOLDINGS, INC. CMN	Common Stock	125269100	279	1,000	SH		SOLE		1,000	0	0
CHESAPEAKE ENERGY CORPORATION CMN	Common Stock	165167107	460	20,000	SH		SOLE		20,000	0	0
CITIGROUP, INC.	Common Stock	172967424	1	19	SH	Put	SOLE		19	0	0
CNINSURE INC. SPONSORED ADR CMN	ADR	18976M103	554	100,802	SH		SOLE		100,802	0	0
CNO FINANCIAL GROUP INC CMN	Common Stock	12621E103	4,494	265,000	SH		SOLE		265,000	0	0
COCA-COLA COMPANY (THE) CMN	Common Stock	191216100	1,621	38,000	SH		SOLE		38,000	0	0
COGENT COMMUNICATIONS HLDGS CMN	Common Stock	19239V302	672	20,000	SH		SOLE		20,000	0	0
COGNIZANT TECHNOLOGY SOLUTIONS CORP CLASS A	Common Stock	192446102	1,836	41,000	SH		SOLE		41,000	0	0
COMMUNITY HEALTH SYS INC CMN	Common Stock	203668108	547	9,982	SH		SOLE		9,982	0	0
CONTINENTAL MATERIALS CORP CMN	Common Stock	211615307	411	26,190	SH		SOLE		26,190	0	0
COWEN GROUP, INC. CMN	Common Stock	223622101	490	130,734	SH		SOLE		130,734	0	0
CREDIT SUISSE GROUP SPON ADR SPONSORED ADR CMN	ADR	225401108	937	33,908	SH		SOLE		33,908	0	0
CSG SYSTEMS INTL INC CMN	Common Stock	126349109	789	30,032	SH		SOLE		30,032	0	0
CULP INC CMN	Common Stock	230215105	182	10,000	SH		SOLE		10,000	0	0
CVS HEALTH CORP CMN	Common Stock	126650100	3,980	50,000	SH		SOLE		50,000	0	0
DANA HOLDING CORPORATION CMN	Common Stock	235825205	575	30,000	SH		SOLE		30,000	0	0
DATALINK CORP CMN	Common Stock	237934104	143	13,483	SH		SOLE		13,483	0	0
DELUXE CORP CMN	Common Stock	248019101	552	10,000	SH		SOLE		10,000	0	0
DESWELL INDUSTRIES INC CMN	Common Stock	250639101	110	50,000	SH		SOLE		50,000	0	0
DGT HLDGS CORP CMN	Common Stock	23328R206	319	20,000	SH		SOLE		20,000	0	0
DHT HOLDINGS INC CMN	Common Stock	Y2065G121	560	90,835	SH		SOLE		90,835	0	0
DISCOVER FINANCIAL SERVICES CMN	Common Stock	254709108	972	15,100	SH		SOLE		15,100	0	0
DOVER DOWNS GAMING & ENTMT INC CMN	Common Stock	260095104	294	297,430	SH		SOLE		297,430	0	0
DOVER MOTORSPORTS INC CMN	Common Stock	260174107	172	74,663	SH		SOLE		74,663	0	0
DOVER SADDLERY, INC. CMN	Common Stock	260412101	197	38,335	SH		SOLE		38,335	0	0
DST SYSTEM INC COMMON STOCK	Common Stock	233326107	755	9,000	SH		SOLE		9,000	0	0
E*TRADE FINANCIAL CORPORATION CMN	Common Stock	269246401	226	10,000	SH		SOLE		10,000	0	0
EASTERN VA BANKSHARES INC CMN	Common Stock	277196101	234	37,642	SH		SOLE		37,642	0	0
EBAY INC. CMN	Common Stock	278642103	2,315	40,879	SH		SOLE		40,879	0	0
EDCI HLDGS INC CMN	Common Stock	268315207	105	174,500	SH		SOLE		174,500	0	0
EINSTEIN NOAH RESTAURANT GROUP, INC CMN	Common Stock	28257U104	202	10,000	SH		SOLE		10,000	0	0
ENCORE CAPITAL GROUP INC CMN	Common Stock	292554102	266	6,000	SH		SOLE		6,000	0	0
ENDURANCE SPECIALTY HLDGS LTD CMN	Common Stock	G30397106	1,380	25,000	SH		SOLE		25,000	0	0
ENGLOBAL CORPORATION CMN	Common Stock	293306106	340	158,168	SH		SOLE		158,168	0	0
ENTEGRIS, INC. CMN	Common Stock	29362U104	115	10,000	SH		SOLE		10,000	0	0
ENTERCOM COMMS. CORP CLASS A COMMON STOCK	Common Stock	293639100	80	10,000	SH		SOLE		10,000	0	0
ENTRAVISION COMMUNICATIONS CP CMN CLASSA	Common Stock	29382R107	2,117	534,527	SH		SOLE		534,527	0	0
EQUIFAX INC CMN	Common Stock	294429105	747	10,000	SH		SOLE		10,000	0	0
EVEREST RE GROUP LTD CMN	Common Stock	G3223R108	810	5,000	SH		SOLE		5,000	0	0
FACEBOOK, INC. CMN CLASS A	Common Stock	30303M102	7,801	98,700	SH		SOLE		98,700	0	0
FAIR ISAAC INC CMN	Common Stock	303250104	1,102	20,000	SH		SOLE		20,000	0	0
FANNIE MAE COMMON STOCK CMN	Common Stock	313586109	108	40,000	SH		SOLE		40,000	0	0
FEDERATED NATL HLDG CO CMN	Common Stock	31422T101	702	25,000	SH		SOLE		25,000	0	0
FIESTA RESTAURANT GROUP, INC. CMN	Common Stock	31660B101	7,452	150,000	SH		SOLE		150,000	0	0
FIRST CMNTY CORP S C CMN	Common Stock	319835104	745	70,000	SH		SOLE		70,000	0	0
FIRST OF LONG ISLAND CORP CMN	Common Stock	320734106	241	7,000	SH		SOLE		7,000	0	0
FIRSTMERIT CORP CMN	Common Stock	337915102	2,016	114,533	SH		SOLE		114,533	0	0
FIVE STAR QUALITY CARE INC CMN	Common Stock	33832D106	607	161,000	SH		SOLE		161,000	0	0
FLAGSTAR BANCORP, INC. CMN	Common Stock	337930705	252	15,000	SH		SOLE		15,000	0	0
FLEXSTEEL INDUSTRIES INC CMN	Common Stock	339382103	1,855	55,000	SH		SOLE		55,000	0	0
FLIR SYSTEMS INC CMN	Common Stock	302445101	627	20,000	SH		SOLE		20,000	0	0
FLUSHING FINANCIAL CORPORATION CMN	Common Stock	343873105	201	10,983	SH		SOLE		10,983	0	0
FOSTER WHEELER AG CMN	Common Stock	H27178104	379	12,000	SH		SOLE		12,000	0	0
FREDDIE MAC CMN	Common Stock	313400301	264	100,000	SH		SOLE		100,000	0	0
FTD COMPANIES, INC. CMN	Common Stock	30281V108	1,364	40,000	SH		SOLE		40,000	0	0
GANNETT CO.INC. CMN	Common Stock	364730101	1,484	50,000	SH		SOLE		50,000	0	0
GENCOR INDUSTRIES INC CMN	Common Stock	368678108	597	60,758	SH		SOLE		60,758	0	0
GENERAL CABLE CORP CMN	Common Stock	369300108	452	30,000	SH		SOLE		30,000	0	0
GENERAL MOTORS COMPANY CMN	Common Stock	37045V100	68	664	SH	Put	SOLE		664	0	0
GIBRALTAR INDUSTRIES INC CMN	Common Stock	374689107	1,917	140,000	SH		SOLE		140,000	0	0
GOLDMAN SACHS GROUP, INC.(THE) CMN	Common Stock	38141G104	4,222	23,000	SH		SOLE		23,000	0	0
GOOGLE INC. CMN CLASS A	Common Stock	38259P508	1,471	2,500	SH		SOLE		2,500	0	0
GOOGLE INC. CMN CLASS C	Common Stock	38259P706	2,021	3,500	SH		SOLE		3,500	0	0
GORDMANS STORES, INC. CMN	Common Stock	38269P100	92	26,855	SH		SOLE		26,855	0	0
GRAPHIC PACKAGING HLDGCO CMN	Common Stock	388689101	339	27,286	SH		SOLE		27,286	0	0
H & R BLOCK INC. CMN	Common Stock	093671105	620	20,000	SH		SOLE		20,000	0	0
H&E EQUIPMENT SERVICES INC CMN	Common Stock	404030108	806	20,000	SH		SOLE		20,000	0	0
HANGER INC CMN	Common Stock	41043F208	308	15,000	SH		SOLE		15,000	0	0
HANMI FINANCIAL CORPORATION CMN	Common Stock	410495204	1,512	75,000	SH		SOLE		75,000	0	0
HARBINGER GROUP INC CMN	Common Stock	41146A106	2,725	207,700	SH		SOLE		207,700	0	0
HARDINGE INC. COMMON STOCK	Common Stock	412324303	766	70,000	SH		SOLE		70,000	0	0
HARVARD BIOSCIENCE INC CMN	Common Stock	416906105	82	20,000	SH		SOLE		20,000	0	0
HAWTHORN BANCSHARES INC CMN	Common Stock	420476103	383	27,873	SH		SOLE		27,873	0	0
HCA HOLDINGS, INC. CMN	Common Stock	40412C101	5,289	75,000	SH		SOLE		75,000	0	0
HEALTH NET, INC. CMN	Common Stock	42222G108	1,844	40,000	SH		SOLE		40,000	0	0
HERTZ GLOBAL HOLDINGS, INC. CMN	Common Stock	42805T105	381	15,000	SH		SOLE		15,000	0	0
HOLLYFRONTIER CORP CMN	Common Stock	436106108	883	20,214	SH		SOLE		20,214	0	0
HOLLYWOOD MEDIA CORP. CMN	Common Stock	436233100	310	241,949	SH		SOLE		241,949	0	0
HOOPER HOLMES INC CMN	Common Stock	439104100	362	596,395	SH		SOLE		596,395	0	0
HORACE MANN EDUCATORS CORP CMN	Common Stock	440327104	285	10,000	SH		SOLE		10,000	0	0
HORMEL FOODS CORP CMN	Common Stock	440452100	514	10,000	SH		SOLE		10,000	0	0
HUBBELL INCORPORATED CLASS B CMN CLASS B	Common Stock	443510201	542	4,500	SH		SOLE		4,500	0	0
HUDSON GLOBAL, INC. CMN	Common Stock	443787106	95	25,100	SH		SOLE		25,100	0	0
HUNTINGTON BANCSHARES INCORPOR*ATED CMN	Common Stock	446150104	1,387	142,600	SH		SOLE		142,600	0	0
HUTTIG BUILDING PRODUCTS INC CMN	Common Stock	448451104	2,095	566,276	SH		SOLE		566,276	0	0
INDEPENDENCE HOLDING COMPANY (NEW)	Common Stock	453440307	199	15,000	SH		SOLE		15,000	0	0
INDEPENDENT BANK CORP MASS CMN	Common Stock	453836108	1,072	30,000	SH		SOLE		30,000	0	0
INFUSYSTEM HOLDINGS, INC. CMN	Common Stock	45685K102	3,166	1,008,255	SH		SOLE		1,008,255	0	0
INSTEEL INDUSTRIES INC CMN	Common Stock	45774W108	2,056	100,000	SH		SOLE		100,000	0	0
INTEGRATED ELECTRICAL SVC INC CMN	Common Stock	45811E301	248	30,000	SH		SOLE		30,000	0	0
INTERTAPE POLYMER GROUP INC CMN	Common Stock	460919103	1,016	69,980	SH		SOLE		69,980	0	0
INVESTORS TITLE CO CMN	Common Stock	461804106	293	4,000	SH		SOLE		4,000	0	0
JONES LANG LASALLE INC CMN	Common Stock	48020Q107	948	7,500	SH		SOLE		7,500	0	0
JOURNAL COMMUNICATIONS INC CMN CLASS A	Common Stock	481130102	169	20,000	SH		SOLE		20,000	0	0
JPMORGAN CHASE & CO CMN	Common Stock	46625H100	3,072	51,000	SH		SOLE		51,000	0	0
JPMORGAN CHASE & CO CMN	Common Stock	46625H100	17	338	SH	Put	SOLE		338	0	0
JPS INDUSTRIES, INC. CMN	Common Stock	46624E405	1,293	202,103	SH		SOLE		202,103	0	0
KELLY SERVICES INC(CL-A) CMN CLASS A	Common Stock	488152208	1,054	67,280	SH		SOLE		67,280	0	0
KRAFT FOODS GROUP, INC. CMN	Common Stock	50076Q106	1,128	20,000	SH		SOLE		20,000	0	0
KROGER COMPANY CMN	Common Stock	501044101	780	15,000	SH		SOLE		15,000	0	0
LANNETT COMPANY, INC. CMN	Common Stock	516012101	1,827	40,000	SH		SOLE		40,000	0	0
LEAR CORPORATION CMN	Common Stock	521865204	941	10,892	SH		SOLE		10,892	0	0
LEE ENTERPRISES INC CMN	Common Stock	523768109	92	27,166	SH		SOLE		27,166	0	0
LIBBEY INC. CMN	Common Stock	529898108	263	10,000	SH		SOLE		10,000	0	0
LINCOLN EDL SERVICES CORP CMN	Common Stock	533535100	138	49,145	SH		SOLE		49,145	0	0
LKQ CORPORATION CMN	Common Stock	501889208	2,659	100,000	SH		SOLE		100,000	0	0
LSI INDUSTRIES INC CMN	Common Stock	50216C108	268	44,231	SH		SOLE		44,231	0	0
LUCAS ENERGY, INC. CMN	Common Stock	549333201	312	682,280	SH		SOLE		682,280	0	0
LYONDELLBASELL INDUSTRIES N.V. CMN CLASSA	Common Stock	N53745100	2,173	20,000	SH		SOLE		20,000	0	0
MANPOWER GROUP CMN	Common Stock	56418H100	210	3,000	SH		SOLE		3,000	0	0
MARSH & MCLENNAN CO INC CMN	Common Stock	571748102	785	15,000	SH		SOLE		15,000	0	0
MASTERCARD INCORPORATED CMN CLASS A	Common Stock	57636Q104	4,805	65,000	SH		SOLE		65,000	0	0
MATTEL INC (OPTIONS - PUTS)	Common Stock	577081102	59	100	SH		SOLE		100	0	0
MCGRAW-HILL COMPANIES INC CMN	Common Stock	580645109	4,223	50,000	SH		SOLE		50,000	0	0
MEDNAX INC CMN	Common Stock	58502B106	395	7,200	SH		SOLE		7,200	0	0
MENS WEARHOUSE INC (THE) CMN	Common Stock	587118100	4,250	90,000	SH		SOLE		90,000	0	0
MFRI INC CMN	Common Stock	552721102	206	21,680	SH		SOLE		21,680	0	0
MICROFINANCIAL INCORPORATED CMN	Common Stock	595072109	806	100,000	SH		SOLE		100,000	0	0
MICROSOFT CORPORATION CMN	Common Stock	594918104	290	6,260	SH		SOLE		6,260	0	0
MICROSTRATEGY INC CMN CLASS A	Common Stock	594972408	327	2,500	SH		SOLE		2,500	0	0
MODUSLINK GLOBAL SOLUTIONS, IN*C CMN	Common Stock	60786L107	44	12,208	SH		SOLE		12,208	0	0
MONDELEZ INTERNATIONAL, INC. CMN	Common Stock	609207105	2,056	60,000	SH		SOLE		60,000	0	0
MORGAN STANLEY CMN	Common Stock	617446448	21,606	625,000	SH		SOLE		625,000	0	0
MOVADO GROUP INC CMN	Common Stock	624580106	331	10,000	SH		SOLE		10,000	0	0
MSCI INC. CMN	Common Stock	55354G100	940	20,000	SH		SOLE		20,000	0	0
MUELLER WATER PRODUCTS, INC. CMN SERIESA	Common Stock	624758108	1,125	135,855	SH		SOLE		135,855	0	0
MULTI-FINELINE ELECTRONIX INC CMN	Common Stock	62541B101	109	11,680	SH		SOLE		11,680	0	0
NABORS INDUSTRIES LTD. CMN	Common Stock	G6359F103	2,015	88,524	SH		SOLE		88,524	0	0
NASDAQ OMX GROUP, INC. CMN	Common Stock	631103108	424	10,000	SH		SOLE		10,000	0	0
NATHANS FAMOUS INC CMN	Common Stock	632347100	474	7,000	SH		SOLE		7,000	0	0
NATL WESTN LIFE INS CO CL-A CMN CLASS A	Common Stock	638522102	371	1,500	SH		SOLE		1,500	0	0
NCI BUILDING SYSTEMS, INC. CMN	Common Stock	628852204	582	30,000	SH		SOLE		30,000	0	0
NEW HAMPSHIRE THRIFT BANCSHARES INC	Common Stock	644722100	2,863	183,765	SH		SOLE		183,765	0	0
NN INC CMN	Common Stock	629337106	267	10,000	SH		SOLE		10,000	0	0
NORANDA ALUMINUM HOLDING CORP CMN	Common Stock	65542W107	978	216,354	SH		SOLE		216,354	0	0
NORTHERN TRUST CORP CMN	Common Stock	665859104	469	6,900	SH		SOLE		6,900	0	0
OAKTREE CAPITAL GROUP, LLC CMN	MLP	674001201	511	10,000	SH		SOLE		10,000	0	0
OMNICOM GROUP CMN	Common Stock	681919106	689	10,000	SH		SOLE		10,000	0	0
ON SEMICONDUCTOR CORP CMN	Common Stock	682189105	122	13,605	SH		SOLE		13,605	0	0
OPTICAL CABLE CORP CMN	Common Stock	683827208	147	32,496	SH		SOLE		32,496	0	0
PAR TECHNOLOGY CORP CMN	Common Stock	698884103	187	38,085	SH		SOLE		38,085	0	0
PARKWAY PROPERTIES INC MD CMN	REIT	70159Q104	1,077	57,330	SH		SOLE		57,330	0	0
PARTNERRE LTD BERMUDA CMN	Common Stock	G6852T105	3,648	33,200	SH		SOLE		33,200	0	0
PATTERSON-UTI ENERGY, INC. ORD CMN	Common Stock	703481101	1,301	40,000	SH		SOLE		40,000	0	0
PENTAIR PLC. CMN	Common Stock	H6169Q108	393	6,000	SH		SOLE		6,000	0	0
PEPSICO INC CMN	Common Stock	713448108	16,449	176,700	SH		SOLE		176,700	0	0
PERCEPTRON INC CMN	Common Stock	71361F100	745	76,103	SH		SOLE		76,103	0	0
PERFECT WORLD CO., LTD. SPONSORED ADR CMN	ADR	71372U104	1,081	54,900	SH		SOLE		54,900	0	0
PGT INC CMN	Common Stock	69336V101	606	65,000	SH		SOLE		65,000	0	0
PHH CORPORATION CMN	Common Stock	693320202	3,354	150,000	SH		SOLE		150,000	0	0
PHILIP MORRIS INTL INC CMN	Common Stock	718172109	500	6,000	SH		SOLE		6,000	0	0
PHILLIPS 66 CMN	Common Stock	718546104	4,066	50,000	SH		SOLE		50,000	0	0
PHOENIX COMPANIES INC. (THE) CMN	Common Stock	71902E604	6,231	111,157	SH		SOLE		111,157	0	0
PLATINUM UNDERWRITERS HLDGS CMN	Common Stock	G7127P100	7,304	120,000	SH		SOLE		120,000	0	0
PNC FINANCIAL SERVICES GROUP CMN	Common Stock	693475105	1,284	15,000	SH		SOLE		15,000	0	0
PPG INDUSTRIES, INC. CMN	Common Stock	693506107	2,164	11,000	SH		SOLE		11,000	0	0
PRICESMART INC CMN	Common Stock	741511109	214	2,500	SH		SOLE		2,500	0	0
PRIMEENERGY CORP CMN	Common Stock	74158E104	366	5,615	SH		SOLE		5,615	0	0
PSYCHEMEDICS CORPORATION CMN	Common Stock	744375205	1,111	78,495	SH		SOLE		78,495	0	0
PULTEGROUP INC. CMN	Common Stock	745867101	883	50,000	SH		SOLE		50,000	0	0
QC HOLDINGS, INC. CMN	Common Stock	74729T101	61	32,740	SH		SOLE		32,740	0	0
R R DONNELLEY & SONS CO CMN	Common Stock	257867101	165	10,000	SH		SOLE		10,000	0	0
RAIT FINANCIAL TRUST CMN	REIT	749227609	223	30,000	SH		SOLE		30,000	0	0
RCM TECHNOLOGIES INC CMN	Common Stock	749360400	162	21,400	SH		SOLE		21,400	0	0
REALOGY HLDGS CORP CMN	Common Stock	75605Y106	2,779	74,700	SH		SOLE		74,700	0	0
RENT-A-CENTER INC CMN	Common Stock	76009N100	304	10,000	SH		SOLE		10,000	0	0
RESOURCE AMERICA INC CL-A CMN CLASS A	Common Stock	761195205	570	61,273	SH		SOLE		61,273	0	0
RITE AID CORP CMN	Common Stock	767754104	272	56,300	SH		SOLE		56,300	0	0
ROCKWELL AUTOMATION INC CMN	Common Stock	773903109	330	3,000	SH		SOLE		3,000	0	0
RPM INTERNATIONAL INC CMN	Common Stock	749685103	1,145	25,000	SH		SOLE		25,000	0	0
SALEM COMMUNICATIONS CL-A CMN CLASS A	Common Stock	794093104	153	20,045	SH		SOLE		20,045	0	0
SANMINA-SCI CORPORATION CMN	Common Stock	801056102	209	10,000	SH		SOLE		10,000	0	0
SCHOOL SPECIALTY, INC. CMN	Common Stock	807864103	2,644	22,221	SH		SOLE		22,221	0	0
SED INTERNATIONAL HLDGS INC CMN	Common Stock	784109209	2	10,000	SH		SOLE		10,000	0	0
SERVICE CORP INTERNATL CMN	Common Stock	817565104	423	20,000	SH		SOLE		20,000	0	0
SIGA TECHNOLOGIES, INC. CMN	Common Stock	826917106	132	91,377	SH		SOLE		91,377	0	0
SINCLAIR BROADCAST GROUP INC CMN CLASS A	Common Stock	829226109	261	10,000	SH		SOLE		10,000	0	0
SL INDS INC CMN	Common Stock	784413106	3,921	80,316	SH		SOLE		80,316	0	0
SPAR GROUP INC CMN	Common Stock	784933103	1,388	907,290	SH		SOLE		907,290	0	0
SPDR GOLD TRUST ETF	ETP	78463V107	5,172	44,504	SH		SOLE		44,504	0	0
SPDR S&P 500 ETF TRUST	ETP	78462F103	26,598	135,000	SH		SOLE		135,000	0	0
SPIRIT AEROSYSTEMS HOLDINGS INC CMN	Common Stock	848574109	381	10,000	SH		SOLE		10,000	0	0
SPOK HOLDINGS INCORPORATED CMN	Common Stock	84863T106	260	20,000	SH		SOLE		20,000	0	0
STANLEY FURNITURE INC (NEW) CMN	Common Stock	854305208	28	10,000	SH		SOLE		10,000	0	0
STARTEK, INC. CMN	Common Stock	85569C107	398	51,323	SH		SOLE		51,323	0	0
STATE STREET CORPORATION (NEW) CMN	Common Stock	857477103	6,993	95,000	SH		SOLE		95,000	0	0
STEELCASE INC. CLASS A COMMON STOCK	Common Stock	858155203	243	15,000	SH		SOLE		15,000	0	0
STERLING CONSTRUCTION CO INC CMN	Common Stock	859241101	103	13,430	SH		SOLE		13,430	0	0
STEWART INFORMATION SVCS CORP CMN	Common Stock	860372101	2,348	80,000	SH		SOLE		80,000	0	0
STRATUS PPTYS INC CMN	Common Stock	863167201	1,864	133,131	SH		SOLE		133,131	0	0
SUNTRUST BANKS INC $1.00 PAR CMN	Common Stock	867914103	761	20,000	SH		SOLE		20,000	0	0
SUPREME INDUSTRIES INC CMN CLASS A	Common Stock	868607102	104	13,266	SH		SOLE		13,266	0	0
SURMODICS INC CMN	Common Stock	868873100	182	10,000	SH		SOLE		10,000	0	0
SYMETRA FINANCIAL CORPORATION CMN	Common Stock	87151Q106	839	35,952	SH		SOLE		35,952	0	0
TECUMSEH PRODUCTS COMPANY CMN	Common Stock	878895309	213	49,600	SH		SOLE		49,600	0	0
TEMPUR SEALY INTERNATIONAL INC CMN	Common Stock	88023U101	1,123	20,000	SH		SOLE		20,000	0	0
THE BANK OF NY MELLON CORP CMN	Common Stock	064058100	3,873	100,000	SH		SOLE		100,000	0	0
TOLL BROTHERS, INC. CMN	Common Stock	889478103	3,116	100,000	SH		SOLE		100,000	0	0
TOTAL SYS SVC INC. CMN	Common Stock	891906109	310	10,000	SH		SOLE		10,000	0	0
TRINITY BIOTECH PLC SPONSORED ADR CMN	ADR	896438306	274	15,000	SH		SOLE		15,000	0	0
TRIPADVISOR, INC. CMN	Common Stock	896945201	274	3,000	SH		SOLE		3,000	0	0
TUCOWS, INC. CMN CLASS A	Common Stock	898697206	189	12,683	SH		SOLE		12,683	0	0
TYCO INTERNATIONAL LTD CMN	Common Stock	H89128104	1,114	25,000	SH		SOLE		25,000	0	0
U.S. CONCRETE INC CMN	Common Stock	90333L201	1,522	58,211	SH		SOLE		58,211	0	0
U.S. PHYSICAL THERAPY, INC. CMN	Common Stock	90337L108	2,477	69,999	SH		SOLE		69,999	0	0
UBS AG CMN	Common Stock	H89231338	951	54,750	SH		SOLE		54,750	0	0
UNILEVER N.V. NY SHS (NEW) ADR CMN	NY Reg Shrs	904784709	1,190	30,000	SH		SOLE		30,000	0	0
UNITED BANCSHARES INC OHIO CMN	Common Stock	909458101	861	57,500	SH		SOLE		57,500	0	0
UNITED CONTINENTAL HOLDING INC CMN	Common Stock	910047109	3,743	80,000	SH		SOLE		80,000	0	0
UNITED CONTINENTAL HOLDING INC CMN	Common Stock	910047109	50	177	SH	Call	SOLE		177	0	0
UNITED ONLINE, INC. CMN	Common Stock	911268209	313	28,571	SH		SOLE		28,571	0	0
UNITED PARCEL SERVICE, INC. CLASS B COMMON STOCK	Common Stock	911312106	983	10,000	SH		SOLE		10,000	0	0
UNITED RENTALS, INC. CMN	Common Stock	911363109	556	5,000	SH		SOLE		5,000	0	0
UNITED TECHNOLOGIES CORP CMN	Common Stock	913017109	264	2,500	SH		SOLE		2,500	0	0
UNITEDHEALTH GROUP INCORPORATE*D CMN	Common Stock	91324P102	4,744	55,000	SH		SOLE		55,000	0	0
UNIVERSAL HEALTH SVC CL B CMN CLASS B	Common Stock	913903100	1,045	10,000	SH		SOLE		10,000	0	0
UNIVERSAL TECHNICAL INSTITUTE CMN	Common Stock	913915104	935	100,000	SH		SOLE		100,000	0	0
VALSPAR CORP CMN	Common Stock	920355104	790	10,000	SH		SOLE		10,000	0	0
VERINT SYSTEMS INC CMN	Common Stock	92343X100	1,112	20,000	SH		SOLE		20,000	0	0
VERIZON COMMUNICATIONS INC. CMN	Common Stock	92343V104	3,499	70,000	SH		SOLE		70,000	0	0
VF CORP CMN	Common Stock	918204108	2,113	32,000	SH		SOLE		32,000	0	0
VIAD CORP CMN	Common Stock	92552R406	826	40,000	SH		SOLE		40,000	0	0
VIEWTRAN GROUP INC CMN	Common Stock	0G936W104	181	100,185	SH		SOLE		100,185	0	0
VISA INC. CMN CLASS A	Common Stock	92826C839	4,694	22,000	SH		SOLE		22,000	0	0
W.R. GRACE & CO (NEW) CMN	Common Stock	38388F108	2,046	22,500	SH		SOLE		22,500	0	0
WAL MART STORES INC CMN	Common Stock	931142103	1,912	25,000	SH		SOLE		25,000	0	0
WALGREEN CO. CMN	Common Stock	931422109	1,778	30,000	SH		SOLE		30,000	0	0
WARREN RESOURCES INC. CMN	Common Stock	93564A100	1,060	200,000	SH		SOLE		200,000	0	0
WEBCO INDS INC CMN	Common Stock	947621207	953	10,707	SH		SOLE		10,707	0	0
WELLCARE HEALTH PLANS INC CMN	Common Stock	94946T106	302	5,000	SH		SOLE		5,000	0	0
WHITING PETROLEUM CORPORATION CMN	Common Stock	966387102	233	3,000	SH		SOLE		3,000	0	0
WILLDAN GROUP INC CMN	Common Stock	96924N100	3,173	219,415	SH		SOLE		219,415	0	0
WILLIS LEASE FINANCE CORP CMN	Common Stock	970646105	821	40,000	SH		SOLE		40,000	0	0
XEROX CORPORATION CMN	Common Stock	984121103	640	48,400	SH		SOLE		48,400	0	0
YAHOO INC CMN	Common Stock	984332106	1,223	30,000	SH		SOLE		30,000	0	0
YELP INC. CMN	Common Stock	985817105	4,436	65,000	SH		SOLE		65,000	0	0
YPF SOCIEDAD ANONIMA SPONSORED ADR REPSTG CL D	ADR	984245100	370	10,000	SH		SOLE		10,000	0	0