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