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
1ST UNITED BANCORP INC FLA	COM	33740N105	6,177	725,002	SH		DFND		0	725,002	0
ACTAVIS PLC	SHS	G0083B108	22,918	94,987	SH		DFND		0	94,987	0
ACTAVIS PLC	SHS	G0083B108	1,175	85,300	SH	Put	DFND		0	85,300	0
ALLERGAN INC	COM	018490102	36,923	207,210	SH		DFND		0	207,210	0
ALLY FINL INC	COM	02005N100	7,474	322,992	SH		DFND		0	322,992	0
AMBIT BIOSCIENCES CORP	COM	02318X100	2,148	139,510	SH		DFND		0	139,510	0
AMER RLTY CAP HEALTHCAR TR I	COM	02917R108	7,022	669,998	SH		DFND		0	669,998	0
AMERICAN CAPITAL AGENCY CORP	COM	02503X105	2	10,100	SH	Put	DFND		0	10,100	0
ANADARKO PETE CORP	COM	032511107	4,790	47,220	SH		DFND		0	47,220	0
ANNALY CAP MGMT INC	COM	035710409	2	25,200	SH	Put	DFND		0	25,200	0
ANNIES INC	COM	03600T104	4,668	101,695	SH		DFND		0	101,695	0
APACHE CORP	COM	037411105	7,040	75,000	SH		DFND		0	75,000	0
ASTRAZENECA PLC	SPONSORED ADR	046353108	6,434	90,064	SH		DFND		0	90,064	0
ASTRAZENECA PLC	SPONSORED ADR	046353108	110	140,700	SH	Put	DFND		0	140,700	0
ATHLON ENERGY INC	COM	047477104	3,494	59,999	SH		DFND		0	59,999	0
AUXILIUM PHARMACEUTICALS INC	COM	05334D107	9,325	312,399	SH		DFND		0	312,399	0
AUXILIUM PHARMACEUTICALS INC	COM	05334D107	25	125,000	SH	Put	DFND		0	125,000	0
B/E AEROSPACE INC	COM	073302101	1,780	21,200	SH		DFND		0	21,200	0
B/E AEROSPACE INC	COM	073302101	235	20,000	SH	Put	DFND		0	20,000	0
BALLY TECHNOLOGIES INC	COM	05874B107	3,951	48,959	SH		DFND		0	48,959	0
BANK KY FINL CORP	COM	062896105	2,632	56,943	SH		DFND		0	56,943	0
BARRICK GOLD CORP	COM	067901108	1,953	133,195	SH		DFND		0	133,195	0
BAXTER INTL INC	COM	071813109	5,311	74,000	SH		DFND		0	74,000	0
BGC PARTNERS INC	CL A	05541T101	7,021	944,923	SH		DFND		0	944,923	0
BGC PARTNERS INC	CL A	05541T101	35	346,400	SH	Call	DFND		0	346,400	0
BLACKBERRY LTD	COM	09228F103	1,117	112,376	SH		DFND		0	112,376	0
BRINKS CO	COM	109696104	6,270	260,799	SH		DFND		0	260,799	0
BURGER KING WORLDWIDE INC	COM	121220107	89	2,989	SH		DFND		0	2,989	0
BURGER KING WORLDWIDE INC	COM	121220107	1,165	97,500	SH	Put	DFND		0	97,500	0
CASCADE BANCORP	COM NEW	147154207	1,366	270,495	SH		DFND		0	270,495	0
CHIQUITA BRANDS INTL INC	COM	170032809	4,858	342,110	SH		DFND		0	342,110	0
CITIZENS FINL GROUP INC	COM	174610105	1,077	46,000	SH		DFND		0	46,000	0
CLOROX CO DEL	COM	189054109	3,462	36,051	SH		DFND		0	36,051	0
CME GROUP INC	COM	12572Q105	304	3,800	SH		DFND		0	3,800	0
CME GROUP INC	COM	12572Q105	96	25,000	SH	Put	DFND		0	25,000	0
COLONIAL FINL SVCS INC	COM	19566B101	346	26,000	SH		DFND		0	26,000	0
COMPUWARE CORP	COM	205638109	27,721	2,612,688	SH		DFND		0	2,612,688	0
COMPUWARE CORP	COM	205638109	27	532,900	SH	Put	DFND		0	532,900	0
COMTECH TELECOMMUNICATIONS C	COM NEW	205826209	440	11,842	SH		DFND		0	11,842	0
CONAGRA FOODS INC	COM	205887102	7,575	229,265	SH		DFND		0	229,265	0
CONCUR TECHNOLOGIES INC	COM	206708109	10,146	80,006	SH		DFND		0	80,006	0
CONCUR TECHNOLOGIES INC	COM	206708109	1	15,000	SH	Put	DFND		0	15,000	0
CONVERSANT INC	COM	21249J105	9,420	275,022	SH		DFND		0	275,022	0
COVISINT CORP	COM	22357R103	1,038	250,000	SH		DFND		0	250,000	0
DHT HOLDINGS INC	SHS NEW	Y2065G121	924	150,000	SH		DFND		0	150,000	0
DIME CMNTY BANCSHARES	COM	253922108	2,676	185,845	SH		DFND		0	185,845	0
DIRECTV	COM	25490A309	20,782	240,199	SH		DFND		0	240,199	0
DISH NETWORK CORP	CL A	25470M109	25	25,000	SH	Put	DFND		0	25,000	0
DISH NETWORK CORP	CL A	25470M109	5,787	89,612	SH		DFND		0	89,612	0
DOLLAR GEN CORP NEW	COM	256677105	8,274	135,400	SH		DFND		0	135,400	0
DOLLAR TREE INC	COM	256746108	1	12,500	SH	Call	DFND		0	12,500	0
DONNELLEY R R & SONS CO	COM	257867101	4,936	299,893	SH		DFND		0	299,893	0
DRESSER-RAND GROUP INC	COM	261608103	16,673	202,683	SH		DFND		0	202,683	0
EBAY INC	COM	278642103	1,133	20,000	SH		DFND		0	20,000	0
EINSTEIN NOAH REST GROUP INC	COM	28257U104	1,008	50,000	SH		DFND		0	50,000	0
ENDO INTL PLC	SHS	G30401106	157	2,302	SH		DFND		0	2,302	0
ENDO INTL PLC	SHS	G30401106	4	22,700	SH	Call	DFND		0	22,700	0
ENVENTIS CORP	COM	29402J101	2,273	125,000	SH		DFND		0	125,000	0
FAMILY DLR STORES INC	COM	307000109	26,806	347,054	SH		DFND		0	347,054	0
FAMILY DLR STORES INC	COM	307000109	65	100,000	SH	Put	DFND		0	100,000	0
FIDELITY NATIONAL FINANCIAL	FNFV GROUP COM	31620R402	1,327	96,429	SH		DFND		0	96,429	0
FNB CORP PA	COM	302520101	123	10,224	SH		DFND		0	10,224	0
FOSTER WHEELER AG	COM	H27178104	6,830	216,018	SH		DFND		0	216,018	0
FRANKLIN FINL CORP VA	COM	35353C102	2,302	123,709	SH		DFND		0	123,709	0
GENTIVA HEALTH SERVICES INC	COM	37247A102	839	50,000	SH		DFND		0	50,000	0
GLIMCHER RLTY TR	SH BEN INT	379302102	5,856	432,501	SH		DFND		0	432,501	0
GLOBALSTAR INC	COM	378973408	1,176	1,680,000	SH	Put	DFND		0	1,680,000	0
GLOBALSTAR INC	COM	378973408	6,149	1,680,000	SH		DFND		0	1,680,000	0
GROUPON INC	COM CL A	399473107	2,165	324,121	SH		DFND		0	324,121	0
HARVEST NATURAL RESOURCES IN	COM	41754V103	136	36,964	SH		DFND		0	36,964	0
HEWLETT PACKARD CO	COM	428236103	17	25,000	SH	Put	DFND		0	25,000	0
HUBBELL INC	CL B	443510201	3,013	25,000	SH		DFND		0	25,000	0
HUDSON CITY BANCORP	COM	443683107	7,595	781,348	SH		DFND		0	781,348	0
INTEL CORP	COM	458140100	7	121,500	SH	Put	DFND		0	121,500	0
INTERNATIONAL GAME TECHNOLOG	COM	459902102	10	25,000	SH	Put	DFND		0	25,000	0
INTERNATIONAL GAME TECHNOLOG	COM	459902102	4,305	255,185	SH		DFND		0	255,185	0
INTERNATIONAL RECTIFIER CORP	COM	460254105	3,014	76,804	SH		DFND		0	76,804	0
ISHARES TR	CHINA LG-CAP ETF	464287184	25	23,800	SH	Put	DFND		0	23,800	0
ISHARES TR	RUSSELL 2000 ETF	464287655	350	3,200	SH		DFND		0	3,200	0
ISHARES TR	RUSSELL 2000 ETF	464287655	747	129,600	SH	Put	DFND		0	129,600	0
ISLE OF CAPRI CASINOS INC	COM	464592104	432	57,644	SH		DFND		0	57,644	0
JETPAY CORP	COM	477177109	20	13,330	SH		DFND		0	13,330	0
JOY GLOBAL INC	COM	481165108	8	15,000	SH	Call	DFND		0	15,000	0
LIN MEDIA LLC	CL A COM	532771102	4,440	200,001	SH		DFND		0	200,001	0
LIPOSCIENCE INC	COM	53630M108	410	79,100	SH		DFND		0	79,100	0
LORAL SPACE & COMMUNICATNS I	COM	543881106	7,844	109,239	SH		DFND		0	109,239	0
LSB FINL CORP	COM	501925101	1,130	28,105	SH		DFND		0	28,105	0
M & T BK CORP	COM	55261F104	374	37,500	SH	Put	DFND		0	37,500	0
MARVELL TECHNOLOGY GROUP LTD	ORD	G5876H105	2,848	211,247	SH		DFND		0	211,247	0
MEADOWBROOK INS GROUP INC	COM	58319P108	7,609	1,300,735	SH		DFND		0	1,300,735	0
MEDTRONIC INC	COM	585055106	5,153	83,174	SH		DFND		0	83,174	0
MORGANS HOTEL GROUP CO	COM	61748W108	1,096	135,831	SH		DFND		0	135,831	0
MOVE INC	COM NEW	62458M207	2,096	100,000	SH		DFND		0	100,000	0
MULTIMEDIA GAMES HLDG CO INC	COM	625453105	3,745	103,998	SH		DFND		0	103,998	0
NATIONAL INTERSTATE CORP	COM	63654U100	19,975	715,935	SH		DFND		0	715,935	0
NEWCASTLE INVT CORP NEW	COM NEW	65105M504	2,878	226,998	SH		DFND		0	226,998	0
NEWMONT MINING CORP	COM	651639106	7,682	333,263	SH		DFND		0	333,263	0
NOKIA CORP	SPONSORED ADR	654902204	7,631	901,989	SH		DFND		0	901,989	0
NORTH VALLEY BANCORP	COM NEW	66304M204	3,836	177,767	SH		DFND		0	177,767	0
NUANCE COMMUNICATIONS INC	COM	67020Y100	3,418	221,700	SH		DFND		0	221,700	0
NUANCE COMMUNICATIONS INC	COM	67020Y100	47	525,500	SH	Call	DFND		0	525,500	0
NUANCE COMMUNICATIONS INC	COM	67020Y100	172	221,700	SH	Put	DFND		0	221,700	0
NVIDIA CORP	COM	67066G104	1,858	100,701	SH		DFND		0	100,701	0
NVIDIA CORP	COM	67066G104	10	150,000	SH	Put	DFND		0	150,000	0
OFFICE DEPOT INC	COM	676220106	13	199,900	SH	Call	DFND		0	199,900	0
OFFICE DEPOT INC	COM	676220106	291	806,800	SH	Put	DFND		0	806,800	0
OFFICE DEPOT INC	COM	676220106	4,380	852,094	SH		DFND		0	852,094	0
OMNIAMERICAN BANCORP INC	COM	68216R107	20,750	798,380	SH		DFND		0	798,380	0
OMNIVISION TECHNOLOGIES INC	COM	682128103	2,916	110,199	SH		DFND		0	110,199	0
OVERSTOCK COM INC DEL	COM	690370101	2,637	156,430	SH		DFND		0	156,430	0
PENN WEST PETE LTD NEW	COM	707887105	316	46,826	SH		DFND		0	46,826	0
POWERSHARES QQQ TRUST	UNIT SER 1	73935A104	57	50,000	SH	Put	DFND		0	50,000	0
PROSHARES TR	SHRT 20+YR TRE	74347X849	5,430	195,730	SH		DFND		0	195,730	0
PROTECTIVE LIFE CORP	COM	743674103	11,818	170,270	SH		DFND		0	170,270	0
QUANTUM CORP	COM DSSG	747906204	668	576,271	SH		DFND		0	576,271	0
REALD INC	COM	75604L105	3,864	412,400	SH		DFND		0	412,400	0
RENEWABLE ENERGY GROUP INC	COM NEW	75972A301	199	19,633	SH		DFND		0	19,633	0
RF MICRODEVICES INC	COM	749941100	2,509	217,417	SH		DFND		0	217,417	0
SAFEWAY INC	COM NEW	786514208	1,217	35,486	SH		DFND		0	35,486	0
SALIX PHARMACEUTICALS INC	COM	795435106	12,353	79,062	SH		DFND		0	79,062	0
SHANDA GAMES LTD	SP ADR REPTG A	81941U105	512	78,212	SH		DFND		0	78,212	0
SHUTTERFLY INC	COM	82568P304	8,754	179,600	SH		DFND		0	179,600	0
SIGMA ALDRICH CORP	COM	826552101	12,921	94,999	SH		DFND		0	94,999	0
SMITH & NEPHEW PLC	SPDN ADR NEW	83175M205	17	6,200	SH	Call	DFND		0	6,200	0
SMITH & NEPHEW PLC	SPDN ADR NEW	83175M205	290	25,000	SH	Put	DFND		0	25,000	0
SMITH & NEPHEW PLC	SPDN ADR NEW	83175M205	11,479	136,348	SH		DFND		0	136,348	0
SOLITARIO EXPL & RTY CORP	COM	8342EP107	1,325	1,103,779	SH		DFND		0	1,103,779	0
SONY CORP	ADR NEW	835699307	3,777	209,360	SH		DFND		0	209,360	0
SOUTHSIDE BANCSHARES INC	COM	84470P109	285	30,000	SH	Put	DFND		0	30,000	0
SP BANCORP INC	COM	78468K106	4,506	154,830	SH		DFND		0	154,830	0
SPDR S&P 500 ETF TR	TR UNIT	78462F103	819	264,800	SH	Put	DFND		0	264,800	0
SYMMETRY MED INC	COM	871546206	1,674	165,934	SH		DFND		0	165,934	0
SYNOVUS FINL CORP	COM NEW	87161C501	1,300	55,002	SH		DFND		0	55,002	0
TF FINL CORP	COM	872391107	2,234	53,750	SH		DFND		0	53,750	0
TIBCO SOFTWARE INC	COM	88632Q103	10,634	450,001	SH		DFND		0	450,001	0
TIM HORTONS INC	COM	88706M103	29,199	370,998	SH		DFND		0	370,998	0
TIME WARNER CABLE INC	COM	88732J207	20,032	139,604	SH		DFND		0	139,604	0
TIVO INC	COM	888706108	4,745	370,885	SH		DFND		0	370,885	0
T-MOBILE US INC	COM	872590104	10,102	349,897	SH		DFND		0	349,897	0
T-MOBILE US INC	COM	872590104	446	110,000	SH	Put	DFND		0	110,000	0
TRW AUTOMOTIVE HLDGS CORP	COM	87264S106	15,821	156,258	SH		DFND		0	156,258	0
TW TELECOM INC	COM	87311L104	7,906	190,003	SH		DFND		0	190,003	0
UNITED STATES CELLULAR CORP	COM	911684108	603	16,999	SH		DFND		0	16,999	0
URS CORP NEW	COM	903236107	1,152	20,001	SH		DFND		0	20,001	0
VAIL RESORTS INC	COM	91879Q109	11,017	126,979	SH		DFND		0	126,979	0
VALEANT PHARMACEUTICALS INTL	COM	91911K102	3,074	23,428	SH		DFND		0	23,428	0
WHITING PETE CORP NEW	COM	966387102	1,534	19,776	SH		DFND		0	19,776	0
WISDOMTREE TR	JAPN HEDGE EQT	97717W851	78	283,400	SH	Put	DFND		0	283,400	0
XRS CORP	COM	983845108	125	22,543	SH		DFND		0	22,543	0
ZAGG INC	COM	98884U108	946	169,564	SH		DFND		0	169,564	0
ZILLOW INC	CL A	98954A107	2,521	21,732	SH		DFND		0	21,732	0