13F-HR 1 efc7-2560_emailform13fhr.txt 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, 2007 ------------------ 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: Magnetar Financial, LLC Address: 1603 Orrington Avenue 13th Floor Evanston, IL 60201 Form 13F File Number: 028-11800 --------- 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: Michael Turro Title: Chief Compliance Officer Phone: 847-905-4690 Signature, Place and Date of Signing: /s/ Michael Turro Evanston IL November 14, 2007 -------------------------- ---------------- ----------------- [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: 271 ------------------------- Form 13F Information Table Value Total: $4,685,003 ------------------------- (in 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. None
MAGNETAR FINANCIAL LLC FORM 13F Quarter Ended September 30, 2007 ------------------------------------------------------------------------------------------------------------------------------------ CLASS VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY ----- ------ -------- --- ---- ---------- ------ ------------------- NAME OF ISSUER TITLE CUSIP (X$1,000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE -------------- ----- ----- --------- ------- --- ---- ---------- -------- ---- ------ ---- ------------------------------------------------------------------------------------------------------------------------------------ ACCESS INTEGRATED TECHNLGS I CL A 004329108 $4,799 856,878 SH SOLE 856,878 ADVANCE AMER CASH ADVANCE CT COM 00739W107 $122 11,400 SH SOLE 11,400 AEGEAN MARINE PETROLEUM NETW SHS Y0017S102 $7,252 200,000 SH SOLE 200,000 AEROVIRONMENT INC COM 008073108 $7,430 322,891 SH SOLE 322,891 AES CORP COM 00130H105 $8,016 400,000 SH SOLE 400,000 AFC ENTERPRISES INC COM 00104Q107 $383 25,422 SH SOLE 25,422 AFFILIATED MANAGERS GROUP COM 008252108 $5,246 41,145 SH SOLE 41,145 AIRCASTLE LTD COM G0129K104 $6,684 200,000 SH SOLE 200,000 ALCAN INC COM 013716105 $298,765 2,985,289 SH SOLE 2,985,289 ALCOA INC COM 013817101 $11,345 290,000 SH SOLE 290,000 ALIGN TECHNOLOGY INC COM 016255101 $12,196 481,487 SH SOLE 481,487 ALLOY INC NEW COM 019855303 $4,020 428,097 SH SOLE 428,097 ALLTEL CORP COM 020039103 $173,229 2,486,061 SH SOLE 2,486,061 ALTRIA GROUP INC COM 02209S103 $577 8,300 SH SOLE 8,300 AMERICAN RAILCAR INDS INC COM 02916P103 $365 16,560 SH SOLE 16,560 AMERISTAR CASINOS INC COM 03070Q101 $7,309 260,092 SH SOLE 260,092 AMGEN INC NOTE 0.375% 2/0 031162AQ3 $9,137 10,000,000 PRN SOLE NONE AMTRUST FINANCIAL SERVICES I COM 032359309 $463 30,520 SH SOLE 30,520 AMYLIN PHARMACEUTICALS INC NOTE 3.000% 6/1 032346AE8 $8,250 7,500,000 PRN SOLE NONE AMYLIN PHARMACEUTICALS INC NOTE 3.000% 6/1 032346AF5 $2,750 2,500,000 PRN SOLE NONE ANNALY CAP MGMT INC COM 035710409 $11,498 721,800 SH CALL SOLE 721,800 ANSWERTHINK INC COM 036916104 $2,228 677,297 SH SOLE 677,297 APPLERA CORP COM AP BIO GRP 038020103 $8,283 239,107 SH SOLE 239,107 ARCH CHEMICALS INC COM 03937R102 $1,076 22,945 SH SOLE 22,945 ASCENDIA BRANDS INC COM 043509108 $226 502,200 SH SOLE 502,200 ATLAS AMER INC COM 049167109 $138,540 2,683,325 SH SOLE 2,683,325 ATLAS ENERGY RESOURCES LLC COM 049303100 $47,830 1,600,068 SH SOLE 1,600,068 AVAYA INC COM 053499109 $91,532 5,396,949 SH SOLE 5,396,949 BALDWIN TECHNOLOGY INC CL A 058264102 $134 26,751 SH SOLE 26,751 BARRIER THERAPEUTICS INC COM 06850R108 $6,050 1,001,575 SH SOLE 1,001,575 BASIN WTR INC COM 07011T306 $851 71,932 SH SOLE 71,932 BENIHANA INC CL A 082047200 $2,416 139,596 SH SOLE 139,596 BIO RAD LABS INC CL A 090572207 $25,647 283,395 SH SOLE 283,395 BIOMARIN PHARMACEUTICAL INC NOTE 2.500% 3/2 09061GAC5 $9,030 5,500,000 PRN SOLE NONE BRISTOL MYERS SQUIBB CO COM 110122108 $1,153 40,000 SH CALL SOLE 40,000 BUILDERS FIRSTSOURCE INC COM 12008R107 $118 10,900 SH SOLE 10,900 CANADIAN NATL RY CO COM 136375102 $1,579 27,700 SH SOLE 27,700 CARROLS RESTAURANT GROUP INC COM 14574X104 $244 21,802 SH SOLE 21,802 CASTLE A M & CO COM 148411101 $494 15,166 SH SOLE 15,166 CEC ENTMT INC COM 125137109 $9,301 346,137 SH SOLE 346,137 CEPHALON INC NOTE 2.000% 6/0 156708AP4 $12,610 7,500,000 PRN SOLE NONE CERIDIAN CORP NEW COM 156779100 $7,955 229,000 SH SOLE 229,000 CHEMTURA CORP COM 163893100 $116 13,100 SH SOLE 13,100 CHESAPEAKE ENERGY CORP NOTE 2.750%11/1 165167BW6 $13,745 12,500,000 PRN SOLE NONE CIENA CORP NOTE 0.875% 6/1 171779AE1 $11,283 10,000,000 PRN SOLE NONE CIRCUIT CITY STORE INC COM 172737108 $80 10,100 SH SOLE 10,100 CIRRUS LOGIC INC COM 172755100 $79 12,300 SH SOLE 12,300 CIT GROUP INC COM 125581108 $209 5,200 SH SOLE 5,200 CIT GROUP INC COM 125581108 $6,030 150,000 SH PUT SOLE 150,000 CLEAR CHANNEL COMMUNICATIONS COM 184502102 $140,542 3,753,795 SH SOLE 3,753,795 COLDWATER CREEK INC COM 193068103 $1,086 100,000 SH CALL SOLE 100,000 COLGATE PALMOLIVE CO COM 194162103 $1,319 18,500 SH SOLE 18,500 COLGATE PALMOLIVE CO COM 194162103 $3,566 50,000 SH PUT SOLE 50,000 COMPANHIA VALE DO RIO DOCE SPONSORED ADR 204412209 $14,542 428,600 SH CALL SOLE 428,600 COMPANHIA VALE DO RIO DOCE SPONSORED ADR 204412209 $8,483 250,000 SH PUT SOLE 250,000 CONAGRA FOODS INC COM 205887102 $661 25,300 SH PUT SOLE 25,300 COPA HOLDINGS SA CL A P31076105 $4,706 117,499 SH SOLE 117,499 CORE LABORATORIES LP NOTE 0.250%10/3 21868FAB9 $10,642 7,500,000 PRN SOLE NONE COUNTRYWIDE FINANCIAL CORP COM 222372104 $1,796 94,500 SH SOLE 94,500 CVS CAREMARK CORPORATION COM 126650100 $68,520 1,729,000 SH SOLE 1,729,000 CVS CAREMARK CORPORATION COM 126650100 $41,612 1,050,000 SH CALL SOLE 1,050,000 CYPRESS BIOSCIENCES INC COM PAR $.02 232674507 $4,414 322,436 SH SOLE 322,436 D R HORTON INC COM 23331A109 $1,779 138,900 SH SOLE 138,900 DELTA AIR LINES INC DEL COM NEW 247361702 $355 19,800 SH SOLE 19,800 DIANA SHIPPING INC COM Y2066G104 $9,263 325,000 SH SOLE 325,000 DIRECTV GROUP INC COM 25459L106 $2,440 100,500 SH CALL SOLE 100,500 DIRECTV GROUP INC COM 25459L106 $10,618 437,300 SH PUT SOLE 437,300 DOLAN MEDIA CO COM 25659P402 $1,139 46,872 SH SOLE 46,872 E TRADE FINANCIAL CORP COM 269246104 $6,255 478,943 SH SOLE 478,943 EBAY INC COM 278642103 $3,902 100,000 SH CALL SOLE 100,000 ECHOSTAR COMMUNICATIONS NEW CL A 278762109 $3,286 70,200 SH PUT SOLE 70,200 EMERGENCY MEDICAL SVCS CORP CL A 29100P102 $986 32,588 SH SOLE 32,588 EMPRESAS ICA S A DE CV SPONS ADR NEW 292448206 $720 30,000 SH SOLE 30,000 ENDEAVOUR INTL CORP COM 29259G101 $477 422,491 SH SOLE 422,491 EXCEL TECHNOLOGY INC COM 30067T103 $653 26,174 SH SOLE 26,174 EXTERRAN HLDGS INC COM 30225X103 $160,756 2,000,949 SH SOLE 2,000,949 FALCONSTOR SOFTWARE INC COM 306137100 $5,483 455,045 SH SOLE 455,045 FINANCIAL FED CORP DBCV 2.000% 4/1 317492AF3 $6,511 6,000,000 PRN SOLE NONE FIRST DATA CORP COM 319963104 $237,790 7,000,000 SH CALL SOLE 7,000,000 FORD MTR CO DEL NOTE 4.250%12/1 345370CF5 $49,469 42,500,000 PRN SOLE NONE FORD MTR CO DEL COM PAR $0.01 345370860 $1,698 200,000 SH PUT SOLE 200,000 FOREST OIL CORP COM PAR $0.01 346091705 $3,148 73,132 SH SOLE 73,132 FORMFACTOR INC COM 346375108 $1,367 30,802 SH SOLE 30,802 FREEPORT-MCMORAN COPPER & GO COM 35671D857 $3,042 29,000 SH SOLE 29,000 GASTAR EXPL LTD COM 367299104 $3,664 2,526,875 SH SOLE 2,526,875 GATX CORP COM 361448103 $15,257 356,884 SH SOLE 356,884 GAYLORD ENTMT CO NEW COM 367905106 $753 14,148 SH SOLE 14,148 GENCO SHIPPING & TRADING LTD SHS Y2685T107 $6,553 100,000 SH SOLE 100,000 GENERAL MTRS CORP DEB SR CV C 33 370442717 $70,261 2,875,000 SH SOLE 2,875,000 GENERAL MTRS CORP COM 370442105 $9,025 245,900 SH PUT SOLE 245,900 GEN-PROBE INC NEW COM 36866T103 $4,182 62,811 SH SOLE 62,811 GENZYME CORP COM 372917104 $6,140 99,100 SH SOLE 99,100 GERBER SCIENTIFIC INC COM 373730100 $389 35,844 SH SOLE 35,844 GILEAD SCIENCES INC NOTE 0.625% 5/0 375558AH6 $26,989 22,451,000 PRN SOLE NONE GLOBALSANTAFE CORP SHS G3930E101 $53,992 710,232 SH SOLE 710,232 GLOBALSANTAFE CORP SHS G3930E101 $89,324 1,175,000 SH PUT SOLE 1,175,000 GOODYEAR TIRE & RUBR CO COM 382550101 $12,164 400,000 SH SOLE 400,000 GREATBATCH INC COM 39153L106 $3,412 128,307 SH SOLE 128,307 GREIF INC CL A 397624107 $5,805 95,670 SH SOLE 95,670 GRILL CONCEPTS INC COM NEW 398502203 $69 10,500 SH SOLE 10,500 HALLIBURTON CO COM 406216101 $5,583 145,400 SH SOLE 145,400 HALLIBURTON CO COM 406216101 $20,160 525,000 SH PUT SOLE 525,000 HALLMARK FINL SVCS INC EC COM NEW 40624Q203 $225 16,017 SH SOLE 16,017 HARSCO CORP COM 415864107 $6,296 106,234 SH SOLE 106,234 HAWK CORP CL A 420089104 $184 13,250 SH SOLE 13,250 HEALTH GRADES INC COM 42218Q102 $9,205 1,523,986 SH SOLE 1,523,986 HEALTHEXTRAS INC COM 422211102 $9,035 324,644 SH SOLE 324,644 HERCULES TECH GROWTH CAP INC COM 427096508 $6,432 484,682 SH SOLE 484,682 HILTON HOTELS CORP COM 432848109 $390,972 8,409,815 SH SOLE 8,409,815 HITTITE MICROWAVE CORP COM 43365Y104 $6,871 155,633 SH SOLE 155,633 HOLOGIC INC COM 436440101 $2,413 39,560 SH SOLE 39,560 HOME DIAGNOSTICS INC DEL COM 437080104 $2,745 286,529 SH SOLE 286,529 HORNBECK OFFSHORE SVCS INC N COM 440543106 $4,520 123,172 SH SOLE 123,172 HOT TOPIC INC COM 441339108 $80 10,700 SH SOLE 10,700 HYTHIAM INC COM 44919F104 $4,685 629,761 SH SOLE 629,761 IMPERIAL SUGAR CO NEW COM NEW 453096208 $517 19,783 SH SOLE 19,783 INNERWORKINGS INC COM 45773Y105 $4,522 262,422 SH SOLE 262,422 INTERACTIVE BROKERS GROUP IN COM 45841N107 $53,888 2,052,101 SH SOLE 2,052,101 INTL SECS EXCHANGE HLDGS INC CL A 46031W204 $15,875 238,830 SH SOLE 238,830 INVESTMENT TECHNOLOGY GRP NE COM 46145F105 $6,334 147,378 SH SOLE 147,378 INVESTOOLS INC COM 46145P103 $5,580 461,564 SH SOLE 461,564 IPC HLDGS LTD ORD G4933P101 $1,303 45,179 SH SOLE 45,179 ISHARES TR RUSSELL 2000 464287655 $4,017 50,000 SH PUT SOLE 50,000 ITRON INC NOTE 2.500% 8/0 465741AJ5 $7,786 5,000,000 PRN SOLE NONE JACK IN THE BOX INC COM 466367109 $345 5,319 SH SOLE 5,319 KAMAN CORP COM 483548103 $693 20,060 SH SOLE 20,060 KAPSTONE PAPER & PACKAGING C COM 48562P103 $694 96,628 SH SOLE 96,628 KAPSTONE PAPER & PACKAGING C *W EXP 08/15/200 48562P111 $3,940 1,743,230 SH SOLE 1,743,230 KERYX BIOPHARMACEUTICALS INC COM 492515101 $6,091 612,824 SH SOLE 612,824 KERYX BIOPHARMACEUTICALS INC COM 492515101 $1,988 200,000 SH PUT SOLE 200,000 KINTERA INC COM 49720P506 $5,107 2,837,337 SH SOLE 2,837,337 KRAFT FOODS INC CL A 50075N104 $17,255 500,000 SH SOLE 500,000 LA Z BOY INC COM 505336107 $76 10,300 SH SOLE 10,300 LEAP WIRELESS INTL INC COM NEW 521863308 $8,349 102,600 SH CALL SOLE 102,600 LENNAR CORP CL A 526057104 $2,276 100,500 SH SOLE 100,500 LEVEL 3 COMMUNICATIONS INC COM 52729N100 $2,345 504,200 SH SOLE 504,200 LEVEL 3 COMMUNICATIONS INC COM 52729N100 $4,627 995,000 SH CALL SOLE 995,000 LIGAND PHARMACEUTICALS INC CL B 53220K207 $77 14,500 SH SOLE 14,500 LINN ENERGY LLC UNIT LTD LIAB 536020100 $29,327 965,288 SH SOLE 965,288 LIONBRIDGE TECHNOLOGIES INC COM 536252109 $8,795 2,204,212 SH SOLE 2,204,212 LIONS GATE ENTMNT CORP COM NEW 535919203 $8,037 779,491 SH SOLE 779,491 LIVE NATION INC COM 538034109 $66,957 3,150,922 SH SOLE 3,150,922 LIVEPERSON INC COM 538146101 $4,569 741,726 SH SOLE 741,726 LOEWS CORP CAROLNA GP STK 540424207 $29,235 355,533 SH SOLE 355,533 LYONDELL CHEMICAL CO COM 552078107 $72,074 1,554,991 SH SOLE 1,554,991 MACYS INC COM 55616P104 $16,160 500,000 SH CALL SOLE 500,000 MARLIN BUSINESS SVCS CORP COM 571157106 $711 49,636 SH SOLE 49,636 MASTERCARD INC CL A 57636Q104 $14,797 100,000 SH SOLE 100,000 MATRIA HEALTHCARE INC COM NEW 576817209 $9,316 356,128 SH SOLE 356,128 MAX CAPITAL GROUP LTD SHS G6052F103 $1,399 49,880 SH SOLE 49,880 MDC PARTNERS INC CL A SUB VTG 552697104 $2,070 190,570 SH SOLE 190,570 MEDTRONIC INC NOTE 1.625% 4/1 585055AM8 $5,591 5,000,000 PRN SOLE NONE METROPCS COMMUNICATIONS INC COM 591708102 $619 22,700 SH SOLE 22,700 MF GLOBAL LTD SHS G60642108 $4,350 150,000 SH SOLE 150,000 MICROSEMI CORP COM 595137100 $264 9,473 SH SOLE 9,473 MICROSOFT CORP COM 594918104 $8,838 300,000 SH SOLE 300,000 MIDAS GROUP INC COM 595626102 $393 20,805 SH SOLE 20,805 MIDWAY GAMES INC COM 598148104 $332 76,100 SH SOLE 76,100 MILLENNIUM PHARMACEUTICALS I NOTE 2.250%11/1 599902AD5 $2,337 2,500,000 PRN SOLE NONE MILLIPORE CORP NOTE 3.750% 6/0 601073AD1 $14,549 13,400,000 PRN SOLE NONE MIRANT CORP NEW COM 60467R100 $8,136 200,000 SH SOLE 200,000 MKS INSTRUMENT INC COM 55306N104 $365 19,214 SH SOLE 19,214 MOLDFLOW CORP COM 608507109 $336 17,458 SH SOLE 17,458 MORTONS RESTAURANT GRP INC N COM 619430101 $2,299 144,606 SH SOLE 144,606 MULTIMEDIA GAMES INC COM 625453105 $10,208 1,198,086 SH SOLE 1,198,086 NATIONAL FINL PARTNERS CORP COM 63607P208 $6,703 126,526 SH SOLE 126,526 NAVIGATORS GROUP INC COM 638904102 $347 6,404 SH SOLE 6,404 NCI BUILDING SYS INC COM 628852105 $513 11,873 SH SOLE 11,873 NEW YORK & CO INC COM 649295102 $83 13,600 SH SOLE 13,600 NEWMARKET CORP COM 651587107 $291 5,898 SH SOLE 5,898 NEXTEST SYS CORP COM 653339101 $7,640 594,087 SH SOLE 594,087 NOBLE CORPORATION SHS G65422100 $23,686 482,888 SH SOLE 482,888 NOBLE CORPORATION SHS G65422100 $24,525 500,000 SH PUT SOLE 500,000 NOVAMED INC DEL COM 66986W108 $300 68,883 SH SOLE 68,883 NRG ENERGY INC COM NEW 629377508 $140,140 3,313,782 SH SOLE 3,313,782 NRG ENERGY INC COM NEW 629377508 $42,290 1,000,000 SH PUT SOLE 1,000,000 NUVEEN INVTS INC CL A 707569109 $209,122 3,376,203 SH SOLE 3,376,203 OIL SVC HOLDRS TR DEPOSTRY RCPT 678002106 $172,845 900,000 SH PUT SOLE 900,000 OMNOVA SOLUTIONS INC COM 682129101 $647 111,991 SH SOLE 111,991 ON ASSIGNMENT INC COM 682159108 $1,989 212,968 SH SOLE 212,968 OPTIMAL GROUP INC CL A NEW 68388R208 $2,191 405,765 SH SOLE 405,765 ORTHOVITA INC COM 68750U102 $13,524 4,463,521 SH SOLE 4,463,521 OWENS & MINOR INC NEW COM 690732102 $282 7,403 SH SOLE 7,403 PARAGON SHIPPING INC CL A 69913R309 $2,120 125,000 SH SOLE 125,000 PHILADELPHIA CONS HLDG CORP COM 717528103 $908 21,964 SH SOLE 21,964 PLACER DOME INC DBCV 2.750%10/1 725906AK7 $6,941 4,103,000 PRN SOLE NONE POWER-ONE INC COM 739308104 $1,253 245,610 SH SOLE 245,610 POWERSHARES QQQ TRUST UNIT SER 1 73935A104 $3,572 69,500 SH SOLE 69,500 POWERSHARES QQQ TRUST UNIT SER 1 73935A104 $10,280 200,000 SH PUT SOLE 200,000 POWERWAVE TECHNOLOGIES INC COM 739363109 $79 12,900 SH SOLE 12,900 PRIDE INTL INC DEL COM 74153Q102 $37,456 1,024,800 SH SOLE 1,024,800 PRIDE INTL INC DEL COM 74153Q102 $36,550 1,000,000 SH PUT SOLE 1,000,000 PROS HOLDINGS INC COM 74346Y103 $6,094 504,923 SH SOLE 504,923 PSS WORLD MED INC COM 69366A100 $827 43,234 SH SOLE 43,234 PSYCHIATRIC SOLUTIONS INC COM 74439H108 $10,886 277,132 SH SOLE 277,132 QUALCOMM INC COM 747525103 $57,241 1,354,500 SH SOLE 1,354,500 QUALCOMM INC COM 747525103 $33,808 800,000 SH CALL SOLE 800,000 QUALCOMM INC COM 747525103 $42,260 1,000,000 SH PUT SOLE 1,000,000 QUICKSILVER RESOURCES INC COM 74837R104 $2,818 59,887 SH SOLE 59,887 QUIKSILVER INC COM 74838C106 $27,971 1,956,000 SH SOLE 1,956,000 RAMBUS INC DEL COM 750917106 $6,466 338,360 SH SOLE 338,360 RAMBUS INC DEL COM 750917106 $78,351 4,100,000 SH CALL SOLE 4,100,000 RC2 CORP COM 749388104 $353 12,744 SH SOLE 12,744 REALNETWORKS INC COM 75605L104 $3,507 517,293 SH SOLE 517,293 RED ROBIN GOURMET BURGERS IN COM 75689M101 $12,554 292,628 SH SOLE 292,628 REDWOOD TR INC COM 758075402 $930 27,981 SH SOLE 27,981 RESTORATION HARDWARE INC DEL COM 760981100 $1,791 544,475 SH SOLE 544,475 RESTORE MEDICAL INC COM 76128C100 $1,227 786,271 SH SOLE 786,271 ROFIN SINAR TECHNOLOGIES INC COM 775043102 $362 5,151 SH SOLE 5,151 RUDOLPH TECHNOLOGIES INC COM 781270103 $347 25,061 SH SOLE 25,061 RYLAND GROUP INC COM 783764103 $444 20,700 SH SOLE 20,700 SBA COMMUNICATIONS CORP NOTE 0.375%12/0 78388JAJ5 $9,192 8,000,000 PRN SOLE NONE SCHERING PLOUGH CORP PFD CONV MAN07 806605705 $20,054 72,500 SH SOLE 72,500 SEASPAN CORP SHS Y75638109 $6,580 200,000 SH SOLE 200,000 SELECT SECTOR SPDR TR SBI INT-ENERGY 81369Y506 $56,513 750,000 SH PUT SOLE 750,000 SEMICONDUCTOR HLDRS TR DEP RCPT 816636203 $1,927 50,300 SH SOLE 50,300 SHUFFLE MASTER INC COM 825549108 $4,853 324,619 SH SOLE 324,619 SIX FLAGS INC COM 83001P109 $1,730 500,000 SH CALL SOLE 500,000 SKILLED HEALTHCARE GROUP INC CL A 83066R107 $6,263 397,648 SH SOLE 397,648 SLM CORP COM 78442P106 $52,228 1,051,500 SH SOLE 1,051,500 SLM CORP COM 78442P106 $2,980 60,000 SH PUT SOLE 60,000 SONIC AUTOMOTIVE INC CL A 83545G102 $279 11,658 SH SOLE 11,658 SONOSITE INC COM 83568G104 $4,070 133,343 SH SOLE 133,343 SPRINT NEXTEL CORP COM FON 852061100 $4,963 261,200 SH PUT SOLE 261,200 STATION CASINOS INC COM 857689103 $2,292 26,200 SH CALL SOLE 26,200 STEIN MART INC COM 858375108 $78 10,300 SH SOLE 10,300 STERLING CONSTRUCTION CO INC COM 859241101 $633 27,430 SH SOLE 27,430 TENNANT CO COM 880345103 $481 9,873 SH SOLE 9,873 TETRA TECHNOLOGIES INC DEL COM 88162F105 $4,146 196,128 SH SOLE 196,128 THINK PARTNERSHIP INC COM 88409N101 $8,246 5,425,078 SH SOLE 5,425,078 TIME WARNER TELECOM INC DBCV 2.375% 4/0 887319AC5 $9,361 7,000,000 PRN SOLE NONE TOLL BROTHERS INC COM 889478103 $2,079 104,000 SH SOLE 104,000 TRANSOCEAN INC ORD G90078109 $23,045 203,844 SH SOLE 203,844 TRANSOCEAN INC ORD G90078109 $28,263 250,000 SH PUT SOLE 250,000 TRONOX INC COM CL B 897051207 $8,334 922,900 SH SOLE 922,900 TRUE RELIGION APPAREL INC COM 89784N104 $5,391 306,302 SH SOLE 306,302 U S G CORP COM NEW 903293405 $36,266 965,800 SH SOLE 965,800 U S G CORP COM NEW 903293405 $37,550 1,000,000 SH PUT SOLE 1,000,000 U S PHYSICAL THERAPY INC COM 90337L108 $1,000 67,592 SH SOLE 67,592 UAP HLDG CORP COM 903441103 $524 16,709 SH SOLE 16,709 ULTIMATE SOFTWARE GROUP INC COM 90385D107 $7,760 222,349 SH SOLE 222,349 ULTRA CLEAN HLDGS INC COM 90385V107 $6,094 414,571 SH SOLE 414,571 UNISYS CORP COM 909214108 $118 17,800 SH SOLE 17,800 UNITED AMER INDEMNITY LTD CL A 90933T109 $1,060 49,302 SH SOLE 49,302 UNITED AUTO GROUP INC NOTE 3.500% 4/0 909440AH2 $5,268 5,000,000 PRN SOLE NONE UNITED INDL CORP COM 910671106 $289 3,844 SH SOLE 3,844 UNITED WESTN BANCORP INC COM 913201109 $9,258 437,934 SH SOLE 437,934 UNIVERSAL AMERN FINL CORP COM 913377107 $31,288 1,371,680 SH SOLE 1,371,680 UNIVERSAL HLTH SVCS INC CL B 913903100 $5,411 99,435 SH SOLE 99,435 UNIVERSAL STAINLESS & ALLOY COM 913837100 $335 8,415 SH SOLE 8,415 USEC INC COM 9.03E+112 $5,125 500,000 SH SOLE 500,000 VALE CAP LTD NT RIO CV VALE 91912C208 $20,352 305,000 SH SOLE 305,000 VALUEVISION MEDIA INC CL A 92047K107 $2,889 389,822 SH SOLE 389,822 VENOCO INC COM 92275P307 $32,504 1,895,300 SH SOLE 1,895,300 VISTAPRINT LIMITED SHS G93762204 $14,819 396,544 SH SOLE 396,544 VISTEON CORP COM 92839U107 $500 97,000 SH SOLE 97,000 VISTEON CORP COM 92839U107 $567 110,000 SH CALL SOLE 110,000 VOCUS INC COM 92858J108 $5,624 192,351 SH SOLE 192,351 VOLCANO CORPORATION COM 928645100 $12,637 768,664 SH SOLE 768,664 WAL MART STORES INC COM 931142103 $9,110 208,714 SH SOLE 208,714 WATSON WYATT WORLDWIDE INC CL A 942712100 $1,365 30,380 SH SOLE 30,380 WEBSITE PROS INC COM 94769V105 $6,916 661,172 SH SOLE 661,172 WELLPOINT INC COM 94973V107 $52,419 664,200 SH SOLE 664,200 WESTERN ASSET CLYM INFL OPP COM 95766R104 $4,578 391,630 SH SOLE 391,630 WESTERN ASSET CLYM INFL SEC COM SH BEN INT 95766Q106 $3,702 317,259 SH SOLE 317,259 WESTERN ASSET INFL MGMT FD I COM 95766U107 $1,285 80,540 SH SOLE 80,540 WMS INDS INC COM 929297109 $3,218 97,215 SH SOLE 97,215 WORKSTREAM INC COM 981402100 $3,492 3,174,144 SH SOLE 3,174,144 WYETH COM 983024100 $1,974 44,300 SH SOLE 44,300 XILINX INC DBCV 3.125% 3/1 983919AD3 $15,492 15,800,000 PRN SOLE NONE YOUBET COM INC COM 987413101 $884 467,628 SH SOLE 467,628