Loeb Offshore Management 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

OMB APPROVAL

OMB Number:		3235-0006
Expires:	Oct 31, 2018
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
7 DAYS GROUP HLDGS LTD	ADR	81783J101	1,717	124,546	SH		DFND		0	124,546	0
ABBVIE INC	COM	00287Y109	1,608	38,900	SH		DFND		0	38,900	0
ACQUITY GROUP LTD	SPONSORED ADR	00489C103	521	40,325	SH		DFND		0	40,325	0
ACTAVIS INC	COM	00507K103	9,668	76,600	SH		DFND		0	76,600	0
ACTAVIS INC	COM	00507K103	69	20,000	SH	Call	DFND		0	0	0
ACTAVIS INC	COM	00507K103	411	75,000	SH	Put	DFND		0	75,000	0
ALICO INC	COM	016230104	1,462	36,440	SH		DFND		0	36,440	0
AMBAC FINL GROUP INC	COM NEW	023139884	477	20,000	SH		DFND		0	20,000	0
AMERICAN INTL GROUP INC	COM NEW	026874784	1,801	40,296	SH		DFND		0	40,296	0
AMGEN INC	COM	031162100	296	3,000	SH		DFND		0	3,000	0
ANAREN INC	COM	032744104	1,850	80,629	SH		DFND		0	80,629	0
ANNALY CAP MGMT INC	COM	035710409	2	10,000	SH	Put	DFND		0	10,000	0
ASSURED GUARANTY LTD	COM	G0585R106	221	10,000	SH		DFND		0	10,000	0
ASTEX PHARMACEUTICALS INC	COM	04624B103	103	25,000	SH		DFND		0	25,000	0
ASTORIA FINL CORP	COM	046265104	5,296	491,300	SH		DFND		0	491,300	0
ASTORIA FINL CORP	COM	046265104	29	226,200	SH	Call	DFND		0	0	0
BAKER MICHAEL CORP	COM	057149106	2,319	85,558	SH		DFND		0	85,558	0
BELO CORP	COM SER A	080555105	984	70,565	SH		DFND		0	70,565	0
BGC PARTNERS INC	CL A	05541T101	530	90,000	SH		DFND		0	90,000	0
BIODELIVERY SCIENCES INTL IN	COM	09060J106	160	39,300	SH		DFND		0	39,300	0
BIOGEN IDEC INC	COM	09062X103	215	1,000	SH		DFND		0	1,000	0
BMC SOFTWARE INC	COM	055921100	5,641	125,000	SH		DFND		0	125,000	0
BRISTOL MYERS SQUIBB CO	COM	110122108	290	6,500	SH		DFND		0	6,500	0
CABLEVISION SYS CORP	CL A NY CABLVS	12686C109	336	20,000	SH		DFND		0	20,000	0
CAPITALSOURCE INC	COM	14055X102	144	15,300	SH		DFND		0	15,300	0
CAPLEASE INC	COM	140288101	3,135	371,500	SH		DFND		0	371,500	0
CARDINAL HEALTH INC	COM	14149Y108	231	4,900	SH		DFND		0	4,900	0
CFS BANCORP INC	COM	12525D102	1,129	105,362	SH		DFND		0	105,362	0
CHARTER COMMUNICATIONS INC D	CL A NEW	16117M305	1,239	10,000	SH		DFND		0	10,000	0
CLEARWIRE CORP NEW	CL A	18538Q105	2,656	531,675	SH		DFND		0	531,675	0
CNH GLOBAL N V	SHS NEW	N20935206	1,631	39,150	SH		DFND		0	39,150	0
COLONIAL PPTYS TR	COM SH BEN INT	195872106	5,092	211,118	SH		DFND		0	211,118	0
COMPUWARE CORP	COM	205638109	2,079	201,044	SH		DFND		0	201,044	0
COOPER TIRE & RUBR CO	COM	216831107	7,132	215,000	SH		DFND		0	215,000	0
CURRENCYSHS JAPANESE YEN TR	JAPANESE YEN	23130A102	35	36,000	SH	Put	DFND		0	36,000	0
DELL INC	COM	24702R101	8,008	601,000	SH		DFND		0	601,000	0
DIME CMNTY BANCSHARES	COM	253922108	213	13,900	SH		DFND		0	13,900	0
DISH NETWORK CORP	CL A	25470M109	2,714	63,840	SH		DFND		0	63,840	0
DOLE FOOD CO INC NEW	COM	256603101	2,741	215,000	SH		DFND		0	215,000	0
DURATA THERAPEUTICS INC	COM	26658A107	108	15,000	SH		DFND		0	15,000	0
E M C CORP MASS	COM	268648102	590	25,000	SH		DFND		0	25,000	0
ELAN PLC	ADR	284131208	1,061	75,000	SH		DFND		0	75,000	0
ENTERGY CORP NEW	COM	29364G103	62	10,000	SH	Call	DFND		0	0	0
EQUAL ENERGY LTD	COM	29390Q109	218	54,330	SH		DFND		0	54,330	0
EXACTTARGET INC	COM	30064K105	2,529	75,000	SH		DFND		0	75,000	0
EXELON CORP	COM	30161N101	772	25,000	SH		DFND		0	25,000	0
EXPRESS SCRIPTS HLDG CO	COM	30219G108	296	4,800	SH		DFND		0	4,800	0
FAIRPOINT COMMUNICATIONS INC	COM NEW	305560302	253	30,339	SH		DFND		0	30,339	0
FEIHE INTL INC	COM	31429Y103	953	128,730	SH		DFND		0	128,730	0
FERRO CORP	COM	315405100	1,538	221,287	SH		DFND		0	221,287	0
FIFTH & PAC COS INC	COM	316645100	896	40,100	SH		DFND		0	40,100	0
FIRST FINL HLDGS INC	COM	320239106	353	16,659	SH		DFND		0	16,659	0
FIRST M & F CORP	COM	320744105	1,399	88,479	SH		DFND		0	88,479	0
FIRSTENERGY CORP	COM	337932107	373	10,000	SH		DFND		0	10,000	0
FISHER COMMUNICATIONS INC	COM	337756209	4,745	115,500	SH		DFND		0	115,500	0
FLOW INTL CORP	COM	343468104	1,188	321,977	SH		DFND		0	321,977	0
FOX CHASE BANCORP INC NEW	COM	35137T108	918	54,000	SH		DFND		0	54,000	0
GARMIN LTD	SHS	H2906T109	1,617	44,700	SH		DFND		0	44,700	0
GILEAD SCIENCES INC	COM	375558103	1,574	30,700	SH		DFND		0	30,700	0
GRAY TELEVISION INC	COM	389375106	792	110,000	SH		DFND		0	110,000	0
HARRIS TEETER SUPERMARKETS I	COM	414585109	839	17,900	SH		DFND		0	17,900	0
HEIDRICK & STRUGGLES INTL IN	COM	422819102	2,129	127,329	SH		DFND		0	127,329	0
HERITAGE OAKS BANCORP	COM	42724R107	486	78,700	SH		DFND		0	78,700	0
ICU MED INC	COM	44930G107	937	12,999	SH		DFND		0	12,999	0
INSMED INC	COM PAR $.01	457669307	196	16,400	SH		DFND		0	16,400	0
ISOFTSTONE HLDGS LTD	SPONSORED ADS	46489B108	155	30,000	SH		DFND		0	30,000	0
KERYX BIOPHARMACEUTICALS INC	COM	492515101	75	10,000	SH		DFND		0	10,000	0
LAS VEGAS SANDS CORP	COM	517834107	265	5,000	SH		DFND		0	5,000	0
LEAP WIRELESS INTL INC	COM NEW	521863308	999	148,370	SH		DFND		0	148,370	0
LEAR CORP	COM NEW	521865204	329	5,449	SH		DFND		0	5,449	0
LEARNING TREE INTL INC	COM	522015106	602	185,758	SH		DFND		0	185,758	0
LENDER PROCESSING SVCS INC	COM	52602E102	3,148	97,300	SH		DFND		0	97,300	0
LIFE TECHNOLOGIES CORP	COM	53217V109	6,984	94,380	SH		DFND		0	94,380	0
LJ INTL INC	ORD	G55312105	986	500,370	SH		DFND		0	500,370	0
LSI CORPORATION	COM	502161102	575	80,500	SH		DFND		0	80,500	0
MARKET LEADER INC	COM	57056R103	1,928	180,210	SH		DFND		0	180,210	0
MCKESSON CORP	COM	58155Q103	286	2,500	SH		DFND		0	2,500	0
MEDIVATION INC	COM	58501N101	84	35,000	SH	Put	DFND		0	35,000	0
MEDIVATION INC	COM	58501N101	3,632	73,825	SH		DFND		0	73,825	0
MET PRO CORP	COM	590876306	4,048	301,200	SH		DFND		0	301,200	0
METLIFE INC	COM	59156R108	1,830	40,000	SH		DFND		0	40,000	0
MONEYGRAM INTL INC	COM NEW	60935Y208	770	34,010	SH		DFND		0	34,010	0
MPG OFFICE TR INC	COM	553274101	1,990	633,711	SH		DFND		0	633,711	0
NEKTAR THERAPEUTICS	COM	640268108	196	17,000	SH		DFND		0	17,000	0
NEOSTEM INC	COM NEW	640650305	83	150,000	SH		DFND		0	150,000	0
NEPTUNE TECHNOLOGIES BIORESO	COM	64077P108	33	10,000	SH		DFND		0	10,000	0
NEW YORK CMNTY BANCORP INC	COM	649445103	490	35,000	SH		DFND		0	35,000	0
NEWPORT BANCORP INC	COM	651754103	1,753	102,904	SH		DFND		0	102,904	0
NICHOLAS FINANCIAL INC	COM NEW	65373J209	1,325	87,600	SH		DFND		0	87,600	0
NII HLDGS INC	CL B NEW	62913F201	500	75,000	SH		DFND		0	75,000	0
NOKIA CORP	SPONSORED ADR	654902204	632	169,000	SH		DFND		0	169,000	0
NV ENERGY INC	COM	67073Y106	5,180	220,800	SH		DFND		0	220,800	0
OFFICEMAX INC DEL	COM	67622P101	460	45,000	SH		DFND		0	45,000	0
OMNIAMERICAN BANCORP INC	COM	68216R107	771	35,000	SH		DFND		0	35,000	0
ONYX PHARMACEUTICALS INC	COM	683399109	269	3,100	SH		DFND		0	3,100	0
OVERHILL FARMS INC	COM	690212105	698	141,100	SH		DFND		0	141,100	0
PENN WEST PETE LTD NEW	COM	707887105	43	129,900	SH	Call	DFND		0	0	0
PEOPLES FED BANCSHARES INC	COM	711037101	849	47,000	SH		DFND		0	47,000	0
PEOPLES UNITED FINANCIAL INC	COM	712704105	249	16,700	SH		DFND		0	16,700	0
PFIZER INC	COM	717081103	728	26,000	SH		DFND		0	26,000	0
PHARMACYCLICS INC	COM	716933106	258	3,250	SH		DFND		0	3,250	0
PITNEY BOWES INC	COM	724479100	991	67,500	SH		DFND		0	67,500	0
POWER ONE INC NEW	COM	73930R102	458	72,510	SH		DFND		0	72,510	0
PRIMUS TELECOMMUNICATIONS GR	COM	741929301	311	26,016	SH		DFND		0	26,016	0
PROLOR BIOTECH INC	COM	74344F106	126	20,000	SH		DFND		0	20,000	0
PVF CAPITAL CORP	COM	693654105	1,754	438,520	SH		DFND		0	438,520	0
QLT INC	COM	746927102	110	25,000	SH		DFND		0	25,000	0
RUE21 INC	COM	781295100	1,543	37,076	SH		DFND		0	37,076	0
SAKS INC	COM	79377W108	341	25,000	SH		DFND		0	25,000	0
SANOFI	RIGHT 12/31/2020	80105N113	855	450,000	SH		DFND		0	450,000	0
SILICON MOTION TECHNOLOGY CO	SPONSORED ADR	82706C108	455	43,000	SH		DFND		0	43,000	0
SMITHFIELD FOODS INC	COM	832248108	5,587	170,600	SH		DFND		0	170,600	0
SOLITARIO EXPL & RTY CORP	COM	8342EP107	654	727,200	SH		DFND		0	727,200	0
SOLTA MED INC	COM	83438K103	562	246,707	SH		DFND		0	246,707	0
SPDR GOLD TRUST	GOLD SHS	78463V107	1,191	10,000	SH		DFND		0	10,000	0
SPDR S&P 500 ETF TR	TR UNIT	78462F103	80	500	SH		DFND		0	500	0
SPDR S&P 500 ETF TR	TR UNIT	78462F103	77	19,000	SH	Put	DFND		0	19,000	0
SPROTT RESOURCE LENDING CORP	COM	85207J100	1,886	1,524,100	SH		DFND		0	1,524,100	0
STEWART ENTERPRISES INC	CL A	860370105	3,029	230,850	SH		DFND		0	230,850	0
STRATEGIC HOTELS & RESORTS I	COM	86272T106	1,772	200,000	SH		DFND		0	200,000	0
TELEPHONE & DATA SYS INC	COM NEW	879433829	5,702	231,333	SH		DFND		0	231,333	0
TIME WARNER CABLE INC	COM	88732J207	562	5,000	SH		DFND		0	5,000	0
TIME WARNER CABLE INC	COM	88732J207	54	3,500	SH	Call	DFND		0	0	0
TIMKEN CO	COM	887389104	639	11,350	SH		DFND		0	11,350	0
T-MOBILE US INC	COM	872590104	2,518	101,501	SH		DFND		0	101,501	0
TRIUS THERAPEUTICS INC	COM	89685K100	218	26,900	SH		DFND		0	26,900	0
TRUE RELIGION APPAREL INC	COM	89784N104	2,002	63,220	SH		DFND		0	63,220	0
UNITED STATES CELLULAR CORP	COM	911684108	734	20,000	SH		DFND		0	20,000	0
UNITEDHEALTH GROUP INC	COM	91324P102	321	4,900	SH		DFND		0	4,900	0
UNIVERSAL BUSINESS PMT SOL A	COM	913384103	40	13,330	SH		DFND		0	13,330	0
UNIVEST CORP PA	COM	915271100	717	37,600	SH		DFND		0	37,600	0
VALIDUS HOLDINGS LTD	COM SHS	G9319H102	903	25,000	SH		DFND		0	25,000	0
VALLEY NATL BANCORP	COM	919794107	474	50,000	SH		DFND		0	50,000	0
VERIFONE SYS INC	COM	92342Y109	925	55,000	SH		DFND		0	55,000	0
VIACOM INC NEW	CL B	92553P201	8,164	120,000	SH		DFND		0	120,000	0
VIRGINIA COMM BANCORP INC	COM	92778Q109	405	29,021	SH		DFND		0	29,021	0
WEATHERFORD INTERNATIONAL LT	REG SHS	H27013103	1,302	95,000	SH		DFND		0	95,000	0
WEATHERFORD INTERNATIONAL LT	REG SHS	H27013103	52	83,200	SH	Call	DFND		0	0	0
WISDOMTREE TRUST	JAPN HEDGE EQT	97717W851	93	142,700	SH	Put	DFND		0	142,700	0
WMS INDS INC	COM	929297109	2,816	110,370	SH		DFND		0	110,370	0
ZOLTEK COS INC	COM	98975W104	1,135	87,880	SH		DFND		0	87,880	0
ZYNGA INC	CL A	98986T108	45	170,000	SH	Call	DFND		0	0	0