UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: March 31, 2013
Check here if Amendment [_]; Amendment Number:
This Amendment (Check only one.): [_] is a restatement.
[_] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: Birch Run Capital, LLC
Address: 1350 Broadway, Suite 2412
New York, NY 10018
13F File Number: 28-005-42627
The institutional investment manager filing this report and the person by whom
it is signed hereby represent that the person signing the report is authorized
to submit it, that all information contained herein is true, correct and
complete, and that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: Caren Abramovich
Title: Chief Operating & Compliance Officer
Phone: 212-433-1980
Signature, Place, and Date of Signing:
/s/ Caren Abramovich New York, NY 5/14/2013
Report Type (Check only one.):
[X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager
are reported in this report.)
[_] 13F NOTICE. (Check here if no holdings reported are in this report, and all
holdings are reported by other reporting manager(s).)
[_] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this
reporting manager are reported in this report and a portion are reported by
other reporting manager(s).)
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form13F Information Table Entry Total: 21
Form13F Information Table Value Total: 333,736
(thousands)
List of Other Included Managers: NONE
Provide a numbered list of the name(s) and Form 13F file number(s) of all
institutional investment managers with respect to which this report is filed,
other than the manager filing this report.
FORM 13F INFORMATION TABLE
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
-------- -------- --------- -------- ------------------ ---------- -------- ------------------------
VOTING AUTHORITY
------------------------
TITLE OF VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER
NAME OF ISSUER CLASS CUSIP (X$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARE NONE
-------------- -------- --------- -------- --------- --- ---- ---------- -------- ---- --------- ---------
BANK OF AMERICA CORP COM 060505104 2,071 170,000 SH CALL OTHER
BLACKROCK INC. COM 09247X101 12,844 50,000 SH OTHER 50,000
CHATHAM LODGING TRUST COM 16208T102 8,046 456,902 SH OTHER 456,902
CIT GROUP INC COM 125581801 1,696 39,000 SH OTHER 39,000
EAGLE MATERIALS INC COM 26969P108 6,663 100,000 SH OTHER 100,000
EMCOR GROUP INC COM 29084Q100 8,478 200,000 SH OTHER 200,000
EPL OIL & GAS INC COM 26883D108 39,310 1,466,228 SH OTHER 619,623 846,605
MTS SYS CORP COM 553777103 2,152 37,000 SH OTHER 37,000
NORTHEAST BANCORP COM 663904209 472 49,980 SH OTHER 49,980
PNC FINANCIAL SERVICES GROUP COM 693475105 2,328 35,000 SH CALL OTHER
QUIKSILVER INC COM 74838C106 18,856 3,106,395 SH OTHER 1,506,395 1,600,000
REGIS CORP COM 758932107 154,507 8,494,082 SH OTHER 8,494,082
RENT A CTR INC COM 76009N100 4,063 110,000 SH OTHER 110,000
RETAIL OPPORTUNITY INVESTMENTS CORP COM 76131N101 756 53,935 SH OTHER 53,935
RETAIL OPPORTUNITY INVESTMENTS CORP COM 76131N101 5,208 371,600 SH CALL OTHER
SEARS HOMETOWN AND OUTLET ST COM 812362101 1,106 27,398 SH OTHER 27,398
STAPLES INC COM 855030102 1,396 104,000 SH OTHER 104,000
STARWOOD PROPERTY TRUST INC COM 85571B105 8,328 300,000 SH OTHER 300,000
WALTER INVESTMENT MANAGEMENT COM 93317W102 51,691 1,387,671 SH OTHER 1,087,671 300,000
WAUSAU PAPER CORP COM 943315101 2,532 234,853 SH OTHER 234,853
ZIPREALTY INC COM 98974V107 1,236 338,661 SH OTHER 338,661