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
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
ACTUATE CORP COM 00508B102 1,560 327,000 SH   SOLE   327,000 0 0
AIR TRANSPORT SERVICES GRP I COM 00922R105 2,985 356,578 SH   SOLE   356,578 0 0
AMERICAN AXLE & MFG HLDGS IN COM 024061103 1,296 68,613 SH   SOLE   68,613 0 0
AMERICAN EAGLE OUTFITTERS NE COM 02553E106 1,683 150,000 SH   SOLE   150,000 0 0
AMTECH SYS INC COM PAR $0.01N 032332504 1,501 122,715 SH   SOLE   122,715 0 0
ARCTIC CAT INC COM 039670104 1,183 30,000 SH   SOLE   30,000 0 0
AXCELIS TECHNOLOGIES INC COM 054540109 1,210 605,000 SH   SOLE   605,000 0 0
BALTIC TRADING LIMITED COM Y0553W103 1,196 200,000 SH   SOLE   200,000 0 0
BBX CAP CORP CL A PAR $0.01 05540P100 671 37,263 SH   SOLE   37,263 0 0
BEBE STORES INC COM 075571109 824 270,000 SH   SOLE   270,000 0 0
BIOSCRIP INC COM 09069N108 2,585 310,000 SH   SOLE   310,000 0 0
BOISE CASCADE CO DEL COM 09739D100 2,721 95,000 SH   SOLE   95,000 0 0
BPZ RESOURCES INC COM 055639108 1,296 420,799 SH   SOLE   420,799 0 0
CALIX INC COM 13100M509 1,497 183,000 SH   SOLE   183,000 0 0
CARRIAGE SVCS INC COM 143905107 1,881 109,779 SH   SOLE   109,779 0 0
CASELLA WASTE SYS INC CL A 147448104 3,132 625,145 SH   SOLE   625,145 0 0
CENVEO INC COM 15670S105 2,722 733,744 SH   SOLE   733,744 0 0
CHINA CERAMICS CO LTD SHS G2113X100 507 375,908 SH   SOLE   375,908 0 0
CHIQUITA BRANDS INTL INC COM 170032809 2,503 230,700 SH   SOLE   230,700 0 0
CHRISTOPHER & BANKS CORP COM 171046105 2,628 300,000 SH   SOLE   300,000 0 0
CLOUD PEAK ENERGY INC COM 18911Q102 1,658 90,000 SH   SOLE   90,000 0 0
COMSTOCK RES INC COM NEW 205768203 799 27,700 SH   SOLE   27,700 0 0
DAWSON GEOPHYSICAL CO COM 239359102 643 22,435 SH   SOLE   22,435 0 0
DELTA APPAREL INC COM 247368103 1,393 97,285 SH   SOLE   97,285 0 0
DIGITALGLOBE INC COM NEW 25389M877 2,224 80,000 SH   SOLE   80,000 0 0
DIXIE GROUP INC CL A 255519100 1,408 133,000 SH   SOLE   133,000 0 0
DOT HILL SYS CORP COM 25848T109 2,113 449,500 SH   SOLE   449,500 0 0
E HOUSE CHINA HLDGS LTD ADR 26852W103 1,645 190,204 SH   SOLE   190,204 0 0
FIVE STAR QUALITY CARE INC COM 33832D106 1,655 330,346 SH   SOLE   330,346 0 0
FREIGHTCAR AMER INC COM 357023100 1,628 65,000 SH   SOLE   65,000 0 0
HELEN OF TROY CORP LTD COM G4388N106 1,418 23,380 SH   SOLE   23,380 0 0
HIMAX TECHNOLOGIES INC SPONSORED ADR 43289P106 360 52,447 SH   SOLE   52,447 0 0
IAO KUN GROUP HLDG CO LTD ORD USD SHS G47204105 1,694 546,488 SH   SOLE   546,488 0 0
IMPERIAL HLDGS INC COM 452834104 3,791 555,917 SH   SOLE   555,917 0 0
JA SOLAR HOLDINGS CO LTD SPON ADR REP5ORD 466090206 1,468 135,200 SH   SOLE   135,200 0 0
KEMET CORP COM NEW 488360207 1,029 178,982 SH   SOLE   178,982 0 0
KVH INDS INC COM 482738101 3,129 240,112 SH   SOLE   240,112 0 0
LIBBEY INC COM 529898108 876 32,900 SH   SOLE   32,900 0 0
LIONBRIDGE TECHNOLOGIES INC COM 536252109 1,824 307,017 SH   SOLE   307,017 0 0
LIQUIDITY SERVICES INC COM 53635B107 479 30,400 SH   SOLE   30,400 0 0
LO-JACK CORP COM 539451104 494 90,889 SH   SOLE   90,889 0 0
MATTSON TECHNOLOGY INC COM 577223100 1,684 769,166 SH   SOLE   769,166 0 0
M D C HLDGS INC COM 552676108 1,817 60,000 SH   SOLE   60,000 0 0
MEADOWBROOK INS GROUP INC COM 58319P108 3,883 540,000 SH   SOLE   540,000 0 0
MEETME INC COM 585141104 1,346 494,800 SH   SOLE   494,800 0 0
MOTORCAR PTS AMER INC COM 620071100 1,664 68,331 SH   SOLE   68,331 0 0
NQ MOBILE INC ADR REPSTG CL A 64118U108 307 50,000 SH   SOLE   50,000 0 0
ORION MARINE GROUP INC COM 68628V308 1,458 134,600 SH   SOLE   134,600 0 0
PARKER DRILLING CO COM 701081101 1,989 305,000 SH   SOLE   305,000 0 0
PHYSICIANS RLTY TR COM 71943U104 1,773 123,187 SH   SOLE   123,187 0 0
PIKE CORP COM 721283109 1,446 161,333 SH   SOLE   161,333 0 0
PIONEER ENERGY SVCS CORP COM 723664108 1,497 85,369 SH   SOLE   85,369 0 0
PRGX GLOBAL INC COM NEW 69357C503 1,709 267,437 SH   SOLE   267,437 0 0
RADIAN GROUP INC COM 750236101 1,522 102,738 SH   SOLE   102,738 0 0
REALD INC COM 75604L105 1,718 134,638 SH   SOLE   134,638 0 0
RICKS CABARET INTL INC COM NEW 765641303 2,283 223,565 SH   SOLE   223,565 0 0
RUDOLPH TECHNOLOGIES INC COM 781270103 1,801 182,252 SH   SOLE   182,252 0 0
SAFEGUARD SCIENTIFICS INC COM NEW 786449207 1,862 89,567 SH   SOLE   89,567 0 0
SILICON IMAGE INC COM 82705T102 2,198 436,028 SH   SOLE   436,028 0 0
SILICON MOTION TECHNOLOGY CO SPONSORED ADR 82706C108 1,865 91,285 SH   SOLE   91,285 0 0
STAMPS COM INC COM NEW 852857200 1,771 52,563 SH   SOLE   52,563 0 0
SYSOREX GLOBAL HLDGS CORP COM NEW 87184N203 912 235,000 SH   SOLE   235,000 0 0
UNITED ONLINE INC COM NEW 911268209 1,144 110,000 SH   SOLE   110,000 0 0
WCI CMNTYS INC COM PAR $0.01 92923C807 1,029 53,300 SH   SOLE   53,300 0 0
XINYUAN REAL ESTATE CO LTD SPONS ADR 98417P105 1,076 254,924 SH   SOLE   254,924 0 0