0001193125-12-466265.txt : 20121113
0001193125-12-466265.hdr.sgml : 20121112
20121113111254
ACCESSION NUMBER: 0001193125-12-466265
CONFORMED SUBMISSION TYPE: 13F-HR
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20120930
FILED AS OF DATE: 20121113
DATE AS OF CHANGE: 20121113
EFFECTIVENESS DATE: 20121113
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: Yorktown Management & Research Co Inc
CENTRAL INDEX KEY: 0001313559
IRS NUMBER: 000000000
FILING VALUES:
FORM TYPE: 13F-HR
SEC ACT: 1934 Act
SEC FILE NUMBER: 028-12529
FILM NUMBER: 121196858
BUSINESS ADDRESS:
STREET 1: AMERICAN PENSION INVESTORS TRUST
STREET 2: 2303 YORKTOWN AVE
CITY: LYNCHBURG
STATE: VA
ZIP: 24501
MAIL ADDRESS:
STREET 1: AMERICAN PENSION INVESTORS TRUST
STREET 2: 2303 YORKTOWN AVE
CITY: LYNCHBURG
STATE: VA
ZIP: 24501
13F-HR
1
d437740d13fhr.txt
13F HOLDINGS REPORT
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 13F
Form 13F Cover Page
Report for the Calendar Year or Quarter Ended: September 30, 2012
Check here if Amendment [ ]; Amendment Number:
----------
This Amendment (Check only one): [ ] is a restatement
[ ] adds new holding entries
Institutional Investment Manager Filing this Report:
Name: Yorktown Management & Research Company, Inc.
Address: 2303 Yorktown Avenue
Lynchburg, Virginia 24501
Form 13F File Number: 28-12529
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: David D. Basten
Title: President
Phone: (434) 846-1361
Signature, Place, and Date of Signing:
/s/ David D. Basten Lynchburg, Virginia November 13, 2012
----------------------------- --------------------- -------------------
[Signature] [City, State] [Date]
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
Form 13F Information Table Entry Total: 283
Form 13F Information Table Value Total: $382,682
(thousands)
List of Other Included Managers:
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.
[If there are no entries in this list, state "NONE" and omit the column headings
and list entries.]
NONE
MARKET
VALUE
TITLE OF (x$1000) SHARE/PRN SHARE/ PUT / INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER CLASS CUSIP (USD) AMOUNT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
--------------------------------- ---------------- --------- -------- --------- ------ ----- ---------- -------- ------- ------ ----
ALCOA INC ....................... COM 013817101 97 11,000 SH SOLE 11,000
APPLE INC ....................... COM 037833100 200 300 SH SOLE 300
ABBOTT LABS ..................... COM 002824100 206 3,000 SH SOLE 3,000
AMERICAN CAP LTD ................ COM 02503Y103 125 11,000 SH SOLE 11,000
ACCELRYS INC .................... COM 00430U103 182 21,000 SH SOLE 21,000
ACCENTURE PLC IRELAND ........... SHS CLASS A G1151C101 252 3,600 SH SOLE 3,600
ACTUATE CORP .................... COM 00508B102 211 30,000 SH SOLE 30,000
AEGON N V ....................... NY REGISTRY SH 007924103 104 20,000 SH SOLE 20,000
ISHARES TR ...................... BARCLY USAGG B 464287226 506 4,500 SH SOLE 4,500
AGL RES INC ..................... COM 001204106 225 5,500 SH SOLE 5,500
AMERICAN CAPITAL AGENCY CORP .... COM 02503X105 4,566 132,000 SH SOLE 132,000
AGRIUM INC ...................... COM 008916108 310 3,000 SH SOLE 3,000
ARLINGTON ASSET INVT CORP ....... CL A NEW 041356205 5,929 248,500 SH SOLE 248,500
APOLLO INVT CORP ................ COM 03761U106 3,028 384,800 SH SOLE 384,800
AUTOLIV INC ..................... COM 052800109 217 3,500 SH SOLE 3,500
AMERICA MOVIL SAB DE CV ......... SPON ADR L SHS 02364W105 280 11,000 SH SOLE 11,000
ANWORTH MORTGAGE ASSET CP ....... COM 037347101 3,237 476,000 SH SOLE 476,000
ANSYS INC ....................... COM 03662Q105 330 4,500 SH SOLE 4,500
ARES CAP CORP ................... COM 04010L103 6,736 393,000 SH SOLE 393,000
APOLLO COML REAL EST FIN INC .... COM 03762U105 1,578 91,000 SH SOLE 91,000
ARMOUR RESIDENTIAL REIT INC ..... COM 042315101 4,374 571,000 SH SOLE 571,000
AMERICA FIRST TAX EX IVS L P .... BEN UNIT CTF 02364V107 2,595 431,000 SH SOLE 431,000
AVIVA PLC ....................... ADR 05382A104 271 26,000 SH SOLE 26,000
AIRCASTLE LTD ................... COM G0129K104 159 14,000 SH SOLE 14,000
POWERSHARES ETF TR II ........... BUILD AMER ETF 73937B407 10,671 355,000 SH SOLE 355,000
SPDR SERIES TRUST ............... BRCLY CP US BD 78464A276 453 7,500 SH SOLE 7,500
BROOKFIELD ASSET MGMT INC ....... CL A LTD VT SH 112585104 207 6,000 SH SOLE 6,000
BAXTER INTL INC ................. COM 071813109 241 4,000 SH SOLE 4,000
BCE INC ......................... COM NEW 05534B760 308 7,000 SH SOLE 7,000
BEAM INC ........................ COM 073730103 316 5,500 SH SOLE 5,500
FRANKLIN RES INC ................ COM 354613101 200 1,600 SH SOLE 1,600
BIO RAD LABS INC ................ CL A 090572207 267 2,500 SH SOLE 2,500
BLACKROCK KELSO CAPITAL CORP .... COM 092533108 2,041 210,000 SH SOLE 210,000
BLACKROCK INC ................... COM 09247X101 267 1,500 SH SOLE 1,500
BRISTOL MYERS SQUIBB CO ......... COM 110122108 287 8,500 SH SOLE 8,500
PIMCO ETF TR .................... TOTL RETN ETF 72201R775 1,741 16,000 SH SOLE 16,000
SEACUBE CONTAINER LEASING LT .... SHS G79978105 188 10,000 SH SOLE 10,000
BP PLC .......................... SPONSORED ADR 055622104 297 7,000 SH SOLE 7,000
BLACKROCK CREDIT ALL IN TR I .... COM SHS 09249V103 690 57,000 SH SOLE 57,000
BROADRIDGE FINL SOLUTIONS IN .... COM 11133T103 350 15,000 SH SOLE 15,000
BRF - BRASIL FOODS S A .......... SPONSORED ADR 10552T107 192 11,100 SH SOLE 11,100
BROOKS AUTOMATION INC ........... COM 114340102 88 11,000 SH SOLE 11,000
CLAYMORE EXCHANGE TRD FD TR ..... GUGG BULL 2014 18383M431 778 29,500 SH SOLE 29,500
CLAYMORE EXCHANGE TRD FD TR ..... GUGG BULL 2015 18383M423 1,541 58,500 SH SOLE 58,500
CLAYMORE EXCHANGE TRD FD TR ..... GUG BLT2016 HY 18383M415 774 30,000 SH SOLE 30,000
CLAYMORE EXCHANGE TRD FD TR ..... GUG BLT2017 HY 18383M399 992 38,000 SH SOLE 38,000
CLAYMORE EXCHANGE TRD FD TR ..... GUG BLT2018 HY 18383M381 3,919 151,500 SH SOLE 151,500
CABELAS INC ..................... COM 126804301 213 3,900 SH SOLE 3,900
CONAGRA FOODS INC ............... COM 205887102 257 9,300 SH SOLE 9,300
CATERPILLAR INC DEL ............. COM 149123101 258 3,000 SH SOLE 3,000
CNOOC LTD ....................... SPONSORED ADR 126132109 243 1,200 SH SOLE 1,200
CF INDS HLDGS INC ............... COM 125269100 267 1,200 SH SOLE 1,200
ISHARES TR ...................... BARCLYS CR BD 464288620 854 7,500 SH SOLE 7,500
BLACKROCK ENH CAP & INC FD I .... COM 09256A109 497 38,000 SH SOLE 38,000
CREDIT SUISSE ASSET MGMT INC .... COM 224916106 539 135,000 SH SOLE 135,000
COLGATE PALMOLIVE CO ............ COM 194162103 214 2,000 SH SOLE 2,000
CORELOGIC INC ................... COM 21871D103 292 11,000 SH SOLE 11,000
CLECO CORP NEW .................. COM 12561W105 294 7,000 SH SOLE 7,000
COMPASS DIVERSIFIED HOLDINGS .... SHS BEN INT 20451Q104 6,363 430,500 SH SOLE 430,500
PIMCO ETF TR .................... INV GRD CRP BD 72201R817 869 8,000 SH SOLE 8,000
SALESFORCE COM INC .............. COM 79466L302 229 1,500 SH SOLE 1,500
CENOVUS ENERGY INC .............. COM 15135U109 429 12,300 SH SOLE 12,300
CHEVRON CORP NEW ................ COM 166764100 268 2,300 SH SOLE 2,300
CURTISS WRIGHT CORP ............. COM 231561101 294 9,000 SH SOLE 9,000
CREXUS INVT CORP ................ COM 226553105 2,865 265,000 SH SOLE 265,000
BLACKROCK CORPOR HI YLD III ..... COM 09255M104 870 108,000 SH SOLE 108,000
MARKET
VALUE
TITLE OF (x$1000) SHARE/PRN SHARE/ PUT / INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER CLASS CUSIP (USD) AMOUNT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
--------------------------------- ---------------- --------- -------- --------- ------ ----- ---------- -------- ------- ------ ----
CYS INVTS INC ................... COM 12673A108 6,016 427,000 SH SOLE 427,000
NTT DOCOMO INC .................. SPONS ADR 62942M201 194 12,000 SH SOLE 12,000
DIAGEO P L C .................... SPON ADR NEW 25243Q205 338 3,000 SH SOLE 3,000
DREYFUS HIGH YIELD STRATEGIE .... SH BEN INT 26200S101 1,057 243,000 SH SOLE 243,000
CREDIT SUISSE HIGH YLD BND F .... SH BEN INT 22544F103 921 279,000 SH SOLE 279,000
DOW CHEM CO ..................... COM 260543103 261 9,000 SH SOLE 9,000
AMDOCS LTD ...................... ORD G02602103 231 7,000 SH SOLE 7,000
DTE ENERGY CO ................... COM 233331107 300 5,000 SH SOLE 5,000
DYNEX CAP INC ................... COM NEW 26817Q506 2,924 272,000 SH SOLE 272,000
ENI S P A ....................... SPONSORED ADR 26874R108 285 6,500 SH SOLE 6,500
EBAY INC ........................ COM 278642103 339 7,000 SH SOLE 7,000
ENNIS INC ....................... COM 293389102 279 17,000 SH SOLE 17,000
ECOPETROL S A ................... SPONSORED ADS 279158109 265 4,500 SH SOLE 4,500
US ECOLOGY INC .................. COM 91732J102 281 13,000 SH SOLE 13,000
CLAYMORE EXCHANGE-TRADED FD ..... GUGG BRIC ETF 18383M100 539 15,200 SH SOLE 15,200
ISHARES TR ...................... MSCI EMERG MKT 464287234 248 6,000 SH SOLE 6,000
ELLINGTON FINANCIAL LLC ......... COM 288522303 3,307 144,900 SH SOLE 144,900
ISHARES TR ...................... MSCI GRW IDX 464288885 282 5,000 SH SOLE 5,000
ISHARES TR ...................... MSCI VAL IDX 464288877 218 4,800 SH SOLE 4,800
8 X 8 INC ....................... COM 282914100 136 20,800 SH SOLE 20,800
ISHARES INC ..................... EMKTS GRW IDX 464286467 267 5,000 SH SOLE 5,000
ELAN PLC ........................ ADR 284131208 139 13,000 SH SOLE 13,000
EMULEX CORP ..................... COM NEW 292475209 166 23,000 SH SOLE 23,000
ISHARES TR ...................... JPMORGAN USD 464288281 3,213 26,500 SH SOLE 26,500
WISDOMTREE TR ................... WSDM EMKTBD FD 97717X784 2,208 28,000 SH SOLE 28,000
MARKET VECTORS ETF TR ........... EM LC CURR DBT 57060U522 2,255 85,000 SH SOLE 85,000
ENERSIS S A ..................... SPONSORED ADR 29274F104 197 12,000 SH SOLE 12,000
ENERNOC INC ..................... COM 292764107 299 23,000 SH SOLE 23,000
ENVESTNET INC ................... COM 29404K106 222 19,000 SH SOLE 19,000
EMPRESA NACIONAL DE ELCTRCID .... SPONSORED ADR 29244T101 206 4,300 SH SOLE 4,300
ISHARES INC ..................... MSCI PAC J IDX 464286665 290 6,500 SH SOLE 6,500
WELLS FARGO ADVANTAGE MULTI ..... COM SHS 94987D101 652 40,000 SH SOLE 40,000
ERIE INDTY CO ................... CL A 29530P102 225 3,500 SH SOLE 3,500
EMBRAER S A ..................... SP ADR REP 4 COM 29082A107 253 9,500 SH SOLE 9,500
ENSCO PLC ....................... SPONSORED ADR 29358Q109 273 5,000 SH SOLE 5,000
ISHARES INC ..................... EMKTS VALU IDX 464286459 220 4,500 SH SOLE 4,500
ISHARES INC ..................... MSCI AUSTRALIA 464286103 285 12,000 SH SOLE 12,000
ISHARES INC ..................... MSCI MALAYSIA 464286830 149 10,200 SH SOLE 10,200
ISHARES INC ..................... MSCI SINGAPORE 464286673 308 23,000 SH SOLE 23,000
EXTRA SPACE STORAGE INC ......... COM 30225T102 366 11,000 SH SOLE 11,000
ABERDEEN ASIA PACIFIC INCOM ..... COM 003009107 1,448 186,000 SH SOLE 186,000
FREEPORT-MCMORAN COPPER & GO .... COM 35671D857 202 5,100 SH SOLE 5,100
FIDUS INVT CORP ................. COM 316500107 3,833 229,500 SH SOLE 229,500
FLUSHING FINL CORP .............. COM 343873105 300 19,000 SH SOLE 19,000
FIRST TR STRATEGIC HIGH INC ..... COM SHS NEW 337353304 1,622 90,900 SH SOLE 90,900
FLOWSERVE CORP .................. COM 34354P105 255 2,000 SH SOLE 2,000
FOMENTO ECONOMICO MEXICANO S .... SPON ADR UNITS 344419106 294 3,200 SH SOLE 3,200
FIRST NIAGARA FINL GP INC ....... COM 33582V108 178 22,000 SH SOLE 22,000
FIFTH STREET FINANCE CORP ....... COM 31678A103 3,821 348,000 SH SOLE 348,000
FMC TECHNOLOGIES INC ............ COM 30249U101 278 6,000 SH SOLE 6,000
FULL CIRCLE CAP CORP ............ COM 359671104 1,715 211,500 SH SOLE 211,500
GREATBATCH INC .................. COM 39153L106 268 11,000 SH SOLE 11,000
GOLUB CAP BDC INC ............... COM 38173M102 2,496 157,000 SH SOLE 157,000
WESTERN ASSET GLOBAL CP DEFI .... COM 95790C107 409 20,000 SH SOLE 20,000
GENERAL MLS INC ................. COM 370334104 319 8,000 SH SOLE 8,000
GLAXOSMITHKLINE PLC ............ SPONSORED ADR 37733W105 277 6,000 SH SOLE 6,000
GENESEE & WYO INC ............... CL A 371559105 301 4,500 SH SOLE 4,500
HELIOS ADVANTAGE INCOME FD I .... COM NEW 42327W206 442 48,000 SH SOLE 48,000
HOME LN SERVICING SOLUTIONS ..... ORD SHS G6648D109 1,790 110,000 SH SOLE 110,000
HOME PROPERTIES INC ............. COM 437306103 245 4,000 SH SOLE 4,000
HELIOS MULTI SEC HI INC FD I .... COM NEW 42327Y202 468 73,300 SH SOLE 73,300
HORACE MANN EDUCATORS CORP N .... COM 440327104 290 16,000 SH SOLE 16,000
HNI CORP ........................ COM 404251100 204 8,000 SH SOLE 8,000
HONEYWELL INTL INC .............. COM 438516106 359 6,000 SH SOLE 6,000
HORIZON TECHNOLOGY FIN CORP ..... COM 44045A102 3,967 245,500 SH SOLE 245,500
HATTERAS FINL CORP .............. COM 41902R103 4,116 146,000 SH SOLE 146,000
MARKET
VALUE
TITLE OF (x$1000) SHARE/PRN SHARE/ PUT / INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER CLASS CUSIP (USD) AMOUNT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
--------------------------------- ---------------- --------- -------- --------- ------ ----- ---------- -------- ------- ------ ----
HERTZ GLOBAL HOLDINGS INC ....... COM 42805T105 185 13,500 SH SOLE 13,500
MARKET VECTORS ETF TR ........... HG YLD MUN ETF 57060U878 4,352 132,000 SH SOLE 132,000
MARKET VECTORS ETF TR ........... EMKT HIYLD BD 57061R403 2,863 110,000 SH SOLE 110,000
MANAGED HIGH YIELD PLUS FD I .... COM 561911108 1,101 498,000 SH SOLE 498,000
ISHARES TR ...................... HIGH YLD CORP 464288513 22,907 248,000 SH SOLE 248,000
ADVISORSHARES TR ................ PERITUS HG YLD 00768Y503 11,329 227,000 SH SOLE 227,000
PIMCO ETF TR .................... 0-5 HIGH YIELD 72201R783 7,251 71,300 SH SOLE 71,300
BLACKROCK CORPOR HI YLD FD V .... COM 09255P107 1,203 91,500 SH SOLE 91,500
INTERNATIONAL BUSINESS MACHS .... COM 459200101 207 1,000 SH SOLE 1,000
ICU MED INC ..................... COM 44930G107 272 4,500 SH SOLE 4,500
MARKET VECTORS ETF TR ........... INTL HI YLD BD 57061R205 4,261 163,500 SH SOLE 163,500
ISHARES TR ...................... S&P LTN AM 40 464287390 234 5,500 SH SOLE 5,500
SPDR SERIES TRUST ............... INTR TRM CORP BD 78464A375 1,430 41,000 SH SOLE 41,000
INVESCO MORTGAGE CAPITAL INC .... COM 46131B100 4,710 234,000 SH SOLE 234,000
SPDR SERIES TRUST ............... BRCLYS YLD ETF 78464A417 23,328 580,000 SH SOLE 580,000
JPMORGAN CHASE & CO ............. COM 46625H108 283 7,000 SH SOLE 7,000
KOHLBERG CAPITAL CORP ........... COM 500233101 4,195 453,000 SH SOLE 453,000
KEYCORP NEW ..................... COM 493267108 105 12,000 SH SOLE 12,000
KKR FINANCIAL HLDGS LLC ......... COM 48248A306 1,161 115,500 SH SOLE 115,500
KIMBERLY CLARK CORP ............. COM 494368103 300 3,500 SH SOLE 3,500
KNOLL INC ....................... COM NEW 498904200 181 13,000 SH SOLE 13,000
COCA COLA CO .................... COM 191216100 303 8,000 SH SOLE 8,000
SPDR SERIES TRUST ............... BRCLYS AGG ETF 78464A649 1,006 17,000 SH SOLE 17,000
LITTELFUSE INC .................. COM 537008104 283 5,000 SH SOLE 5,000
LACLEDE GROUP INC ............... COM 505597104 280 6,500 SH SOLE 6,500
LABORATORY CORP AMER HLDGS ...... COM NEW 50540R409 231 2,500 SH SOLE 2,500
LILLY ELI & CO .................. COM 532457108 284 6,000 SH SOLE 6,000
LOCKHEED MARTIN CORP ............ COM 539830109 289 3,100 SH SOLE 3,100
ISHARES TR ...................... IBOXX INV CPBD 464287242 5,662 46,500 SH SOLE 46,500
LANDSTAR SYS INC ................ COM 515098101 203 4,300 SH SOLE 4,300
LIVE NATION ENTERTAINMENT IN .... COM 538034109 149 17,300 SH SOLE 17,300
MEDLEY CAP CORP ................. COM 58503F106 4,847 344,500 SH SOLE 344,500
MCDONALDS CORP .................. COM 580135101 275 3,000 SH SOLE 3,000
MCG CAPITAL CORP ................ COM 58047P107 1,692 367,000 SH SOLE 367,000
MERCER INTL INC ................. COM 588056101 127 17,000 SH SOLE 17,000
MFA FINANCIAL INC ............... COM 55272X102 3,426 403,000 SH SOLE 403,000
MULTIMEDIA GAMES HLDG CO INC .... COM 625453105 173 11,000 SH SOLE 11,000
WESTERN ASSET MGD HI INCM F ..... COM 95766L107 941 144,300 SH SOLE 144,300
MIDDLEBY CORP ................... COM 596278101 294 2,550 SH SOLE 2,550
AG MTG INVT TR INC .............. COM 001228105 3,547 147,000 SH SOLE 147,000
ALTRIA GROUP INC ................ COM 02209S103 284 8,500 SH SOLE 8,500
AMERICAN INCOME FD INC .......... COM 02672T109 847 100,300 SH SOLE 100,300
MERCK & CO INC .................. COM 589331107 316 7,000 SH SOLE 7,000
ARCELORMITTAL SA LUXEMBOURG ..... NY REGISTRY SH 03938L104 144 10,000 SH SOLE 10,000
M & T BK CORP ................... COM 55261F104 238 2,500 SH SOLE 2,500
AMERICAN CAP MTG INVT CORP ...... COM 02504A104 1,357 54,000 SH SOLE 54,000
MAXIM INTEGRATED PRODS INC ...... COM 57772K101 200 7,500 SH SOLE 7,500
NEWCASTLE INVT CORP ............. COM 65105M108 941 125,000 SH SOLE 125,000
NATIONAL GRID PLC ............... SPON ADR NEW 636274300 249 4,500 SH SOLE 4,500
NGP CAP RES CO .................. COM 62912R107 2,011 269,600 SH SOLE 269,600
NATIONAL HEALTH INVS INC ........ COM 63633D104 257 5,000 SH SOLE 5,000
ANNALY CAP MGMT INC ............. COM 035710409 11,636 691,000 SH SOLE 691,000
NEW MTN FIN CORP ................ COM 647551100 3,157 213,000 SH SOLE 213,000
NORTHSTAR RLTY FIN CORP ......... COM 66704R100 3,969 624,000 SH SOLE 624,000
NORFOLK SOUTHERN CORP ........... COM 655844108 255 4,000 SH SOLE 4,000
NOVO-NORDISK A S ................ ADR 670100205 316 2,000 SH SOLE 2,000
NORTHWEST BANCSHARES INC MD ..... COM 667340103 245 20,000 SH SOLE 20,000
NEW YORK MTG TR INC ............. COM PAR $.02 649604501 2,728 387,000 SH SOLE 387,000
OCEANFIRST FINL CORP ............ COM 675234108 293 20,000 SH SOLE 20,000
OMEGA HEALTHCARE INVS INC ....... COM 681936100 227 10,000 SH SOLE 10,000
ONE LIBERTY PPTYS INC ........... COM 682406103 1,704 91,377 SH SOLE 91,377
OMNICOM GROUP INC ............... COM 681919106 232 4,500 SH SOLE 4,500
ORACLE CORP ..................... COM 68389X105 242 7,700 SH SOLE 7,700
PAYCHEX INC ..................... COM 704326107 266 8,000 SH SOLE 8,000
PEP BOYS MANNY MOE & JACK ....... COM 713278109 108 10,600 SH SOLE 10,600
PRECISION CASTPARTS CORP ........ COM 740189105 359 2,200 SH SOLE 2,200
MARKET
VALUE
TITLE OF (x$1000) SHARE/PRN SHARE/ PUT / INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER CLASS CUSIP (USD) AMOUNT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
--------------------------------- ---------------- --------- -------- --------- ------ ----- ---------- -------- ------- ------ ----
POWERSHARES GLOBAL ETF TRUST .... SOVEREIGN DEBT 73936T573 9,053 295,000 SH SOLE 295,000
PDF SOLUTIONS INC ............... COM 693282105 225 16,500 SH SOLE 16,500
MEDNAX INC ...................... COM 58502B106 223 3,000 SH SOLE 3,000
ISHARES TR ...................... US PFD STK IDX 464288687 1,993 50,000 SH SOLE 50,000
PENNANTPARK FLOATING RATE CA .... COM 70806A106 1,443 114,000 SH SOLE 114,000
PROCTER & GAMBLE CO ............. COM 742718109 208 3,000 SH SOLE 3,000
POWERSHARES ETF TRUST ........... FINL PFD PTFL 73935X229 3,618 196,000 SH SOLE 196,000
POWERSHARES GLOBAL ETF TRUST .... HI YLD USD BD 73936T557 11,055 580,000 SH SOLE 580,000
PIMCO HIGH INCOME FD ............ COM SHS 722014107 2,380 170,000 SH SOLE 170,000
PIONEER HIGH INCOME TR .......... COM 72369H106 1,775 95,000 SH SOLE 95,000
PENNANTPARK INVT CORP ........... COM 708062104 3,432 323,500 SH SOLE 323,500
PANERA BREAD CO ................. CL A 69840W108 291 1,700 SH SOLE 1,700
PINNACLE WEST CAP CORP .......... COM 723484101 290 5,500 SH SOLE 5,500
PPG INDS INC .................... COM 693506107 207 1,800 SH SOLE 1,800
PARTNERRE LTD ................... COM G6852T105 297 4,000 SH SOLE 4,000
PAREXEL INTL CORP ............... COM 699462107 200 6,500 SH SOLE 6,500
BLACKROCK CREDIT ALL INC TR ..... COM 09255J101 425 40,000 SH SOLE 40,000
PRAXAIR INC ..................... COM 74005P104 260 2,500 SH SOLE 2,500
QUALCOMM INC .................... COM 747525103 219 3,500 SH SOLE 3,500
REYNOLDS AMERICAN INC ........... COM 761713106 282 6,500 SH SOLE 6,500
RACKSPACE HOSTING INC ........... COM 750086100 258 3,900 SH SOLE 3,900
REGAL BELOIT CORP ............... COM 758750103 317 4,500 SH SOLE 4,500
RUBICON TECHNOLOGY INC .......... COM 78112T107 194 20,200 SH SOLE 20,200
PIMCO STRATEGIC GBL GOV FD I .... COM 72200X104 556 45,100 SH SOLE 45,100
ROCKWOOD HLDGS INC .............. COM 774415103 233 5,000 SH SOLE 5,000
RESOURCE CAP CORP ............... COM 76120W302 4,098 697,000 SH SOLE 697,000
RUDOLPH TECHNOLOGIES INC ........ COM 781270103 231 22,000 SH SOLE 22,000
RAYONIER INC .................... COM 754907103 294 6,000 SH SOLE 6,000
SAP AG .......................... SPON ADR 803054204 285 4,000 SH SOLE 4,000
SCANA CORP NEW .................. COM 80589M102 290 6,000 SH SOLE 6,000
ISHARES TR ...................... MSCI SMALL CAP 464288273 271 7,000 SH SOLE 7,000
SEADRILL LIMITED ................ SHS G7945E105 353 9,000 SH SOLE 9,000
COMPANHIA SIDERURGICA NACION .... SPONSORED ADR 20440W105 129 23,000 SH SOLE 23,000
GRUPO SIMEC S A B DE C V ........ ADR 400491106 145 12,000 SH SOLE 12,000
SINA CORP ....................... ORD G81477104 226 3,500 SH SOLE 3,500
SPDR SER TRUST .................. CAP S/T HI YLD 78468R408 7,354 241,600 SH SOLE 241,600
SOLAR CAP LTD ................... COM 83413U100 6,017 262,500 SH SOLE 262,500
SIMS METAL MANAGEMENT LTD ....... SPONS ADR 829160100 142 14,300 SH SOLE 14,300
CHINA PETE & CHEM CORP .......... SPON ADR H SHS 16941R108 203 2,200 SH SOLE 2,200
SANOFI AVENTIS .................. SPONSORED ADR 80105N105 215 5,000 SH SOLE 5,000
SONOCO PRODS CO ................. COM 835495102 205 6,600 SH SOLE 6,600
SOCIEDAD QUIMICA MINERA DE C .... SPON ADR SER B 833635105 247 4,000 SH SOLE 4,000
SIMPSON MANUFACTURING CO INC .... COM 829073105 203 7,100 SH SOLE 7,100
SASOL LTD ....................... SPONSORED ADR 803866300 223 5,000 SH SOLE 5,000
STUDENT TRANSN INC .............. COM 86388A108 1,989 293,000 SH SOLE 293,000
STATE AUTO FINL CORP ............ COM 855707105 213 13,000 SH SOLE 13,000
STEEL DYNAMICS INC .............. COM 858119100 133 11,800 SH SOLE 11,800
STATOIL ASA ..................... SPONS ADR 85771P102 232 9,000 SH SOLE 9,000
STARWOOD PPTY TR INC ............ COM 85571B105 1,769 76,000 SH SOLE 76,000
SOLAR SR CAP LTD ................ COM 83416M105 1,363 76,100 SH SOLE 76,100
SYNGENTA AG ..................... SPONSORED ADR 87160A100 225 3,000 SH SOLE 3,000
SYSCO CORP ...................... COM 871829107 297 9,500 SH SOLE 9,500
AT & T CORP ..................... COM 00206R102 287 7,600 SH SOLE 7,600
TRANSALTA CORP .................. COM 89346D107 156 10,200 SH SOLE 10,200
TRIANGLE CAP CORP ............... COM 895848109 3,952 154,000 SH SOLE 154,000
TCP CAP CORP .................... COM 87238Q103 2,953 185,000 SH SOLE 185,000
THL CR INC ...................... COM 872438106 3,486 248,500 SH SOLE 248,500
TORONTO DOMINION BK ONT ......... COM NEW 891160509 292 3,500 SH SOLE 3,500
TELEFONICA S A .................. SPONSORED ADR 879382208 146 11,000 SH SOLE 11,000
TE CONNECTIVITY LTD ............. REG SHS H84989104 357 10,500 SH SOLE 10,500
TREDEGAR CORP ................... COM 894650100 195 11,000 SH SOLE 11,000
TIM HORTONS INC ................. COM 88706M103 260 5,000 SH SOLE 5,000
TICC CAPITAL CORP ............... COM 87244T109 2,496 240,000 SH SOLE 240,000
TOTAL S A ....................... SPONSORED ADR 89151E109 200 4,000 SH SOLE 4,000
MARKET
VALUE
TITLE OF (x$1000) SHARE/PRN SHARE/ PUT / INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER CLASS CUSIP (USD) AMOUNT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE
--------------------------------- ---------------- --------- -------- --------- ------ ----- ---------- -------- ------- ------ ----
SPEEDWAY MOTORSPORTS INC ........ COM 847788106 323 21,000 SH SOLE 21,000
TRANSCANADA CORP ................ COM 89353D107 273 6,000 SH SOLE 6,000
TENARIS S A ..................... SPONSORED ADR 88031M109 326 8,000 SH SOLE 8,000
TAIWAN SEMICONDUCTOR MFG LTD .... SPONSORED ADR 874039100 221 14,000 SH SOLE 14,000
GRUPO TELEVISA SA DE CV ......... SP ADR REP ORD 40049J206 223 9,500 SH SOLE 9,500
TWO HBRS INVT CORP .............. COM 90187B101 2,914 248,000 SH SOLE 248,000
UFP TECHNOLOGIES INC ............ COM 902673102 176 10,000 SH SOLE 10,000
ULTA SALON COSMETICS & FRAG I ... COM 90384S303 231 2,400 SH SOLE 2,400
VANGUARD SCOTTSDALE FDS ......... INT-TERM CORP 92206C870 1,798 20,500 SH SOLE 20,500
VANGUARD INTL EQUITY INDEX F .... ALLWRLD EX US 922042775 219 5,100 SH SOLE 5,100
VANGUARD INTL EQUITY INDEX F .... MSCI EUROPE ETF 922042874 272 6,000 SH SOLE 6,000
INVESCO VAN KAMPEN HIGH INCO .... COM NEW 46131F101 515 30,000 SH SOLE 30,000
VALLEY NATL BANCORP ............. COM 919794107 179 17,860 SH SOLE 17,860
VANGUARD INTL EQUITY INDEX F .... MSCI PAC ETF 922042866 252 5,000 SH SOLE 5,000
VERISK ANALYTICS INC ............ CL A 92345Y106 286 6,000 SH SOLE 6,000
VIRTUS INVT PARTNERS INC ........ COM 92828Q109 215 2,500 SH SOLE 2,500
VANGUARD INTL EQUITY INDEX F .... TT WRLD ST ETF 922042742 264 5,500 SH SOLE 5,500
VENTAS INC ...................... COM 92276F100 218 3,500 SH SOLE 3,500
WABTEC CORP ..................... COM 929740108 201 2,500 SH SOLE 2,500
WESTERN ASSET MTG CAP CORP ...... COM 95790D105 4,274 192,500 SH SOLE 192,500
WNS HOLDINGS LTD ................ SPON ADR 92932M101 133 13,000 SH SOLE 13,000