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 |
ARC DOCUMENT SOLUTIONS INC CMN | COM | 00191G103 | 1,897 | 474,337 | SH | | SOLE | | 474,337 | 0 | 0 |
ADCARE HEALTH SYSTEMS, INC. CMN | COM | 00650W300 | 101 | 21,037 | SH | | SOLE | | 21,037 | 0 | 0 |
AEROPOSTALE, INC. CMN | COM | 007865108 | 14 | 1,000 | SH | | SOLE | | 1,000 | 0 | 0 |
AGNICO EAGLE MINES LTD CMN | COM | 008474108 | 275 | 10,000 | SH | | SOLE | | 10,000 | 0 | 0 |
ALPHA PRO TECH LTD CMN | COM | 020772109 | 6 | 3,600 | SH | | SOLE | | 3,600 | 0 | 0 |
AMERCO CMN | COM | 023586100 | 162 | 1,000 | SH | | SOLE | | 1,000 | 0 | 0 |
AMERICAN EAGLE OUTFITTERS INC (NEW) | COM | 02553E106 | 2,199 | 120,419 | SH | | SOLE | | 120,419 | 0 | 0 |
AMERICAN INTL GROUP, INC. CMN | COM | 026874784 | 15,882 | 355,300 | SH | | SOLE | | 355,300 | 0 | 0 |
AMERISOURCEBERGEN CORPORATION CMN | COM | 03073E105 | 3,071 | 55,000 | SH | | SOLE | | 55,000 | 0 | 0 |
APOLLO GLOBAL MANAGEMENT, LLC CMN CLASS A | COM | 037612306 | 224 | 9,300 | SH | | SOLE | | 9,300 | 0 | 0 |
APPLIED MATERIALS INC CMN | COM | 038222105 | 4,595 | 308,000 | SH | | SOLE | | 308,000 | 0 | 0 |
ARROW ELECTRONICS INC. CMN | COM | 042735100 | 296 | 7,426 | SH | | SOLE | | 7,426 | 0 | 0 |
ASSISTED LIVING CONCEPTS, INC. CMN CLASS A | COM | 04544X300 | 1,972 | 164,881 | SH | | SOLE | | 164,881 | 0 | 0 |
BALL CORPORATION CMN | COM | 058498106 | 2,945 | 70,900 | SH | | SOLE | | 70,900 | 0 | 0 |
THE BANCORP INC CMN | COM | 05969A105 | 1,073 | 71,572 | SH | | SOLE | | 71,572 | 0 | 0 |
BANK OF AMERICA CORP CMN | COM | 060505104 | 11,811 | 918,406 | SH | | SOLE | | 918,406 | 0 | 0 |
BEBE STORES INC CMN | COM | 075571109 | 321 | 57,300 | SH | | SOLE | | 57,300 | 0 | 0 |
BERKSHIRE HATHAWAY INC CL-A (DEL) CLASS A | COM | 084670108 | 6,238 | 37 | SH | | SOLE | | 37 | 0 | 0 |
BLACKSTONE GROUP L.P. (THE) CMN | COM | 09253U108 | 10,840 | 514,700 | SH | | SOLE | | 514,700 | 0 | 0 |
BODY CENTRAL ACQUISITION CORP. CMN | COM | 09689U102 | 13 | 1,000 | SH | | SOLE | | 1,000 | 0 | 0 |
BOISE INC. CMN | COM | 09746Y105 | 171 | 20,000 | SH | | SOLE | | 20,000 | 0 | 0 |
CIT GROUP INC. CMN CLASS | COM | 125581801 | 1,306 | 28,000 | SH | | SOLE | | 28,000 | 0 | 0 |
CVS CAREMARK CORPORATION CMN | COM | 126650100 | 12,731 | 222,655 | SH | | SOLE | | 222,655 | 0 | 0 |
THE CHEF'S WAREHOUSE INC CMN | COM | 163086101 | 744 | 43,239 | SH | | SOLE | | 43,239 | 0 | 0 |
CHEVRON CORPORATION CMN | COM | 166764100 | 8,745 | 73,900 | SH | | SOLE | | 73,900 | 0 | 0 |
CIBER INC CMN | COM | 17163B102 | 794 | 237,814 | SH | | SOLE | | 237,814 | 0 | 0 |
CISCO SYSTEMS, INC. CMN | COM | 17275R102 | 1,841 | 75,633 | SH | | SOLE | | 75,633 | 0 | 0 |
COMMUNITY WEST BANCSHARES CMN | COM | 204157101 | 24 | 5,000 | SH | | SOLE | | 5,000 | 0 | 0 |
CONTINENTAL MATERIALS CORP CMN | COM | 211615307 | 74 | 4,771 | SH | | SOLE | | 4,771 | 0 | 0 |
COWEN GROUP, INC. CMN | COM | 223622101 | 1,764 | 610,466 | SH | | SOLE | | 610,466 | 0 | 0 |
D.R. HORTON, INC. CMN | COM | 23331A109 | 2,832 | 133,100 | SH | | SOLE | | 133,100 | 0 | 0 |
DST SYSTEM INC COMMON STOCK | COM | 233326107 | 2,613 | 40,000 | SH | | SOLE | | 40,000 | 0 | 0 |
DAEGIS INC CMN | COM | 233720101 | 5 | 5,000 | SH | | SOLE | | 5,000 | 0 | 0 |
DOVER DOWNS GAMING & ENTMT INC CMN | COM | 260095104 | 25 | 16,157 | SH | | SOLE | | 16,157 | 0 | 0 |
DR PEPPER SNAPPLE GROUP, INC. CMN | COM | 26138E109 | 919 | 20,000 | SH | | SOLE | | 20,000 | 0 | 0 |
EBAY INC. CMN | COM | 278642103 | 5,777 | 111,700 | SH | | SOLE | | 111,700 | 0 | 0 |
E Z CORP INC CL-A NON VTG CMN CLASS A | COM | 302301106 | 1,787 | 105,671 | SH | | SOLE | | 105,671 | 0 | 0 |
FEDFIRST FINANCIAL CORPORATION CMN | COM | 31429C101 | 81 | 4,390 | SH | | SOLE | | 4,390 | 0 | 0 |
FIRST CMNTY CORP S C CMN | COM | 319835104 | 368 | 40,000 | SH | | SOLE | | 40,000 | 0 | 0 |
FIRST FINL BANCORP CMN | COM | 320209109 | 1,150 | 77,161 | SH | | SOLE | | 77,161 | 0 | 0 |
FIRST PACTRUST BANCORP, INC. CMN | COM | 33589V101 | 1,358 | 100,000 | SH | | SOLE | | 100,000 | 0 | 0 |
FIRSTMERIT CORP CMN | COM | 337915102 | 1,598 | 79,791 | SH | | SOLE | | 79,791 | 0 | 0 |
FONAR CORPORATION CMN | COM | 344437405 | 7 | 1,000 | SH | | SOLE | | 1,000 | 0 | 0 |
FORD MOTOR COMPANY CMN | COM | 345370860 | 3,326 | 215,000 | SH | | SOLE | | 215,000 | 0 | 0 |
FORTRESS INVESTMENT GROUP LLC CMN CLASS A | COM | 34958B106 | 4,931 | 751,660 | SH | | SOLE | | 751,660 | 0 | 0 |
FROZEN FOOD EXPRESS INDS INC CMN | COM | 359360104 | 60 | 37,505 | SH | | SOLE | | 37,505 | 0 | 0 |
FULL HOUSE RESORTS CMN | COM | 359678109 | 3 | 1,197 | SH | | SOLE | | 1,197 | 0 | 0 |
GABELLI HEALTHCARE & WELLNESSR*X TRUST (THE) MUTUAL FUND | COM | 36246K103 | 137 | 14,020 | SH | | SOLE | | 14,020 | 0 | 0 |
RTS/GABELLI HEALTHCARE & WELLNESSRX TRUST (THE) EXP07/17/2013 | RTS | 36246K129 | 2 | 14,020 | SH | | SOLE | | 14,020 | 0 | 0 |
GAP INC CMN | COM | 364760108 | 1,252 | 30,000 | SH | | SOLE | | 30,000 | 0 | 0 |
GENWORTH FINANCIAL INC CMN CLASS A | COM | 37247D106 | 186 | 16,300 | SH | | SOLE | | 16,300 | 0 | 0 |
GIBRALTAR INDUSTRIES INC CMN | COM | 374689107 | 557 | 38,233 | SH | | SOLE | | 38,233 | 0 | 0 |
GOLDMAN SACHS GROUP, INC.(THE) CMN | COM | 38141G104 | 7,203 | 47,625 | SH | | SOLE | | 47,625 | 0 | 0 |
GOOGLE, INC. CMN CLASS A | COM | 38259P508 | 3,786 | 4,300 | SH | | SOLE | | 4,300 | 0 | 0 |
HORSEHEAD HOLDING CORP. CMN | COM | 440694305 | 64 | 5,000 | SH | | SOLE | | 5,000 | 0 | 0 |
HUDSON GLOBAL, INC. CMN | COM | 443787106 | 12 | 4,845 | SH | | SOLE | | 4,845 | 0 | 0 |
HUMANA INC. CMN | COM | 444859102 | 6,855 | 81,235 | SH | | SOLE | | 81,235 | 0 | 0 |
ICAHN ENTERPRISES L.P. DEPOSITARY UNIT | COM | 451100101 | 65 | 888 | SH | | SOLE | | 888 | 0 | 0 |
ING AMERICA INSURANCE HOLDINGS*, INC. CMN | COM | 45685E106 | 2,138 | 79,000 | SH | | SOLE | | 79,000 | 0 | 0 |
INSPERITY INC CMN | COM | 45778Q107 | 1,828 | 60,329 | SH | | SOLE | | 60,329 | 0 | 0 |
INTERACTIVE BROKERS GROUP, INC*. CMN | COM | 45841N107 | 801 | 50,142 | SH | | SOLE | | 50,142 | 0 | 0 |
ISHARES MSCI JAPAN INDEX FD MARKET INDEX | ETF | 464286848 | 2,784 | 248,100 | SH | | SOLE | | 248,100 | 0 | 0 |
JPMORGAN CHASE & CO CMN | COM | 46625H100 | 8,058 | 152,645 | SH | | SOLE | | 152,645 | 0 | 0 |
KEMET CORPORATION CMN | COM | 488360207 | 1 | 100 | SH | | SOLE | | 100 | 0 | 0 |
KROGER COMPANY CMN | COM | 501044101 | 5,181 | 150,000 | SH | | SOLE | | 150,000 | 0 | 0 |
LEUCADIA NATIONAL CORP CMN | COM | 527288104 | 535 | 20,400 | SH | | SOLE | | 20,400 | 0 | 0 |
PUT/LINE @ 33 EXP 07/20/2013 | PUT | 536020100 | 1 | 5 | SH | Put | SOLE | | 5 | 0 | 0 |
MDC PARTNERS INC CMN CLASS A SUB VTG | COM | 552697104 | 2,118 | 117,424 | SH | | SOLE | | 117,424 | 0 | 0 |
MFC INDUSTRIAL LTD CMN | COM | 55278T105 | 27 | 3,373 | SH | | SOLE | | 3,373 | 0 | 0 |
MTS SYSTEMS CORP CMN | COM | 553777103 | 153 | 2,700 | SH | | SOLE | | 2,700 | 0 | 0 |
MVC CAPITAL INC CLOSED END FUND | COM | 553829102 | 696 | 55,278 | SH | | SOLE | | 55,278 | 0 | 0 |
MACY'S INC. CMN | COM | 55616P104 | 288 | 6,002 | SH | | SOLE | | 6,002 | 0 | 0 |
MARCHEX INC CMN CLASS B | COM | 56624R108 | 101 | 16,813 | SH | | SOLE | | 16,813 | 0 | 0 |
MORGAN STANLEY CMN | COM | 617446448 | 4,732 | 193,700 | SH | | SOLE | | 193,700 | 0 | 0 |
MURPHY OIL CORPORATION CMN | COM | 626717102 | 4,262 | 70,000 | SH | | SOLE | | 70,000 | 0 | 0 |
NATURES SUNSHINE PRODS INC CMN | COM | 639027101 | 393 | 24,035 | SH | | SOLE | | 24,035 | 0 | 0 |
NAVARRE CORP CMN | COM | 639208107 | 822 | 297,721 | SH | | SOLE | | 297,721 | 0 | 0 |
NORDSTROM INC CMN | COM | 655664100 | 60 | 1,000 | SH | | SOLE | | 1,000 | 0 | 0 |
OAKTREE CAPITAL GROUP, LLC CMN | COM | 674001201 | 4,962 | 94,421 | SH | | SOLE | | 94,421 | 0 | 0 |
OCCIDENTAL PETROLEUM CORP CMN | COM | 674599105 | 892 | 10,000 | SH | | SOLE | | 10,000 | 0 | 0 |
OCH-ZIFF CAPITAL MGMT, L.L.C. CMN CLASS A | COM | 67551U105 | 10 | 1,000 | SH | | SOLE | | 1,000 | 0 | 0 |
OCWEN FINANCIAL CORPORATION CMN | COM | 675746309 | 41 | 1,000 | SH | | SOLE | | 1,000 | 0 | 0 |
OLD REPUBLIC INTL CORP CMN | COM | 680223104 | 4,178 | 324,600 | SH | | SOLE | | 324,600 | 0 | 0 |
PACIFIC PREMIER BANCORP CMN | COM | 69478X105 | 995 | 81,391 | SH | | SOLE | | 81,391 | 0 | 0 |
PHILIP MORRIS INTL INC CMN | COM | 718172109 | 5,197 | 60,000 | SH | | SOLE | | 60,000 | 0 | 0 |
PRIVATEBANCORP, INC. CMN | COM | 742962103 | 1,078 | 50,767 | SH | | SOLE | | 50,767 | 0 | 0 |
QC HOLDINGS, INC. CMN | COM | 74729T101 | 8 | 2,749 | SH | | SOLE | | 2,749 | 0 | 0 |
RADIANT LOGISTICS INC CMN | COM | 75025X100 | 16 | 8,410 | SH | | SOLE | | 8,410 | 0 | 0 |
REED'S, INC. CMN | COM | 758338107 | 21 | 4,134 | SH | | SOLE | | 4,134 | 0 | 0 |
REGIONS FINANCIAL CORPORATION CMN | COM | 7591EP100 | 762 | 80,000 | SH | | SOLE | | 80,000 | 0 | 0 |
SPDR S&P 500 ETF TRUST | ETF | 78462F103 | 221,410 | 1,380,191 | SH | | SOLE | | 1,380,191 | 0 | 0 |
CALL/GLD @ 170 EXP 01/18/2014 | CALL | 78463V107 | 1 | 2 | SH | Call | SOLE | | 2 | 0 | 0 |
CALL/GLD @ 165 EXP 01/18/2014 | CALL | 78463V107 | 1 | 8 | SH | Call | SOLE | | 8 | 0 | 0 |
CALL/GLD @ 163 EXP 01/18/2014 | CALL | 78463V107 | 1 | 10 | SH | Call | SOLE | | 10 | 0 | 0 |
CALL/GLD @ 164 EXP 01/18/2014 | CALL | 78463V107 | 1 | 10 | SH | Call | SOLE | | 10 | 0 | 0 |
CALL/GLD @ 160 EXP 01/18/2014 | CALL | 78463V107 | 1 | 20 | SH | Call | SOLE | | 20 | 0 | 0 |
CHARLES SCHWAB CORPORATION CMN | COM | 808513105 | 5,017 | 236,300 | SH | | SOLE | | 236,300 | 0 | 0 |
TJX COMPANIES INC (NEW) CMN | COM | 872540109 | 2,503 | 50,000 | SH | | SOLE | | 50,000 | 0 | 0 |
TARGET CORPORATION CMN | COM | 87612E106 | 3,443 | 50,000 | SH | | SOLE | | 50,000 | 0 | 0 |
TOLL BROTHERS, INC. CMN | COM | 889478103 | 2,734 | 83,800 | SH | | SOLE | | 83,800 | 0 | 0 |
TRUEBLUE, INC. CMN | COM | 89785X101 | 2,169 | 103,018 | SH | | SOLE | | 103,018 | 0 | 0 |
TUCOWS INC. CMN | COM | 898697107 | 210 | 112,955 | SH | | SOLE | | 112,955 | 0 | 0 |
U.S. GLOBAL INVESTORS INC A CMN | COM | 902952100 | 2 | 1,000 | SH | | SOLE | | 1,000 | 0 | 0 |
UNITED INSURANCE HOLDINGS CORP CMN | COM | 910710102 | 1,398 | 200,000 | SH | | SOLE | | 200,000 | 0 | 0 |
UNITED ONLINE INC CMN | COM | 911268100 | 17 | 2,300 | SH | | SOLE | | 2,300 | 0 | 0 |
UNITED PARCEL SERVICE, INC. CLASS B COMMON STOCK | COM | 911312106 | 5,889 | 68,091 | SH | | SOLE | | 68,091 | 0 | 0 |
UNIVERSAL AMERICAN CORP. CMN | COM | 91338E101 | 204 | 23,000 | SH | | SOLE | | 23,000 | 0 | 0 |
VALSPAR CORP CMN | COM | 920355104 | 45 | 700 | SH | | SOLE | | 700 | 0 | 0 |
VANGUARD SPECIALIZED PORTFOLIO VANGUARD DIVIDEND APPRECIATION MUTUAL FUND CL ETF SER VIPERS | ETF | 921908844 | 17,924 | 270,756 | SH | | SOLE | | 270,756 | 0 | 0 |
VANGUARD FTSE DEVELOPED MKTS CMN ETF | ETF | 921943858 | 15 | 434 | SH | | SOLE | | 434 | 0 | 0 |
VANGUARD FTSE ALL-WORLD EX-US INDEX FUND ETF | ETF | 922042775 | 24 | 542 | SH | | SOLE | | 542 | 0 | 0 |
VANGUARD INDEX FDS S&P 500 ETF | ETF | 922908413 | 64,971 | 885,888 | SH | | SOLE | | 885,888 | 0 | 0 |
WAL MART STORES INC CMN | COM | 931142103 | 5,177 | 69,500 | SH | | SOLE | | 69,500 | 0 | 0 |
WELLCARE HEALTH PLANS INC CMN | COM | 94946T106 | 56 | 1,000 | SH | | SOLE | | 1,000 | 0 | 0 |
WEST BANCORPORATION INC CMN | COM | 95123P106 | 198 | 16,825 | SH | | SOLE | | 16,825 | 0 | 0 |
XILINX INCORPORATED CMN | COM | 983919101 | 7,447 | 188,000 | SH | | SOLE | | 188,000 | 0 | 0 |
XYLEM INC. CMN | COM | 98419M100 | 27 | 1,000 | SH | | SOLE | | 1,000 | 0 | 0 |
ACCENTURE PLC CMN | COM | G1151C101 | 3,598 | 50,000 | SH | | SOLE | | 50,000 | 0 | 0 |
GREENLIGHT CAPITAL RE LTD-A CMN | COM | G4095J109 | 483 | 19,696 | SH | | SOLE | | 19,696 | 0 | 0 |
LAZARD LTD CMN CLASS A | COM | G54050102 | 1,280 | 39,806 | SH | | SOLE | | 39,806 | 0 | 0 |
TOWER GROUP INTL LTD CMN | COM | G8988C105 | 7,712 | 376,011 | SH | | SOLE | | 376,011 | 0 | 0 |
DHT HOLDINGS INC CMN | COM | Y2065G121 | 51 | 11,396 | SH | | SOLE | | 11,396 | 0 | 0 |