Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	NUMEREX CORP -CL A	678,536	$7.505M	8.7%	$12.77	—	COMM	67053A102
—	AXCELIS TECHNOLOGIES INC	1,941,196	$4.969M	5.7%	$1.99	—	COMM	54540109
EXTR	EXTREME NETWORKS INC	1,124,308	$3.969M	4.6%	$4.68	-22.0%	COMM	30226D106
UIS	UNISYS CORP	133,348	$3.931M	4.5%	$23.20	+8.4%	COMM	909214306
—	BOINGO WIRELESS INC	357,973	$2.746M	3.2%	$7.20	—	COMM	09739C102
—	QUANTUM CORP	1,525,023	$2.684M	3.1%	$1.20	—	COMM	747906204
—	TRAVELCENTERS OF AMERICA LLC	204,262	$2.578M	3.0%	$8.93	—	COMM	894174101
—	RADISYS CORP	1,078,521	$2.524M	2.9%	$2.55	—	COMM	750459109
NEWT	NEWTEK BUSINESS SERVICES CORP	159,903	$2.36M	2.7%	$13.70	0.0%	COMM	652526203
—	INTERSECTIONS INC	603,320	$2.359M	2.7%	$4.63	—	COMM	460981301
SATS	ECHOSTAR HOLDING CORP-A	44,150	$2.318M	2.7%	$39.12	+1.6%	COMM	278768106
—	CARTESIAN INC	532,243	$2.283M	2.6%	$3.50	—	COMM	146534102
—	MERU NETWORKS INC	577,510	$2.171M	2.5%	$4.31	—	COMM	59047Q103
LNWO	SCIENTIFIC GAMES CORP-A	169,500	$2.158M	2.5%	$16.72	-27.9%	COMM	80874P109
—	PROCERA NETWORKS INC	273,015	$1.963M	2.3%	$9.37	—	COMM	74269U203
—	TELECOMMUNICATION SYSTEMS-A	621,012	$1.938M	2.2%	$2.32	—	COMM	87929J103
—	LIONBRIDGE TECHNOLOGIES INC	332,808	$1.914M	2.2%	$5.96	—	COMM	536252109
—	LIFEVANTAGE CORP	1,459,069	$1.897M	2.2%	$1.36	—	COMM	53222K106
—	SCIQUEST INC	118,881	$1.718M	2.0%	$15.82	—	COMM	80908T101
—	FX ENERGY INC	1,029,794	$1.596M	1.8%	$3.60	—	COMM	302695101
—	O2MICRO INTERNATIONAL-ADR	647,451	$1.554M	1.8%	$2.80	—	ADRS	67107W100
LSAK	NET 1 UEPS TECHNOLOGIES INC	132,464	$1.51M	1.7%	$10.72	+10.8%	COMM	64107N206
—	RIGHTSIDE GROUP LTD	217,743	$1.463M	1.7%	$7.56	—	COMM	76658B100
—	USA TECHNOLOGIES INC	845,490	$1.361M	1.6%	$1.94	—	COMM	90328S500
—	MATTERSIGHT CORP	200,000	$1.261M	1.5%	$6.30	—	COMM	577097108
—	ENTROPIC COMMUNICATIONS INC	462,624	$1.17M	1.4%	$3.45	—	COMM	29384R105
—	PHARMATHENE INC	639,734	$1.158M	1.3%	$1.79	—	COMM	71714G102
—	INNERWORKINGS INC	139,817	$1.089M	1.3%	$8.15	—	COMM	45773Y105
UIS	UNISYS CORP	35,000	$1.032M	1.2%	$23.20	+8.4%	Call	909214306
—	BEBE STORES INC	455,839	$998K	1.2%	$2.32	—	COMM	75571109
—	THE FINISH LINE-CL A	39,650	$964K	1.1%	$27.16	—	COMM	317923100
—	HYDRA INDUSTRIES ACQUISITION	87,500	$835K	1.0%	$9.54	—	WRNT	448740118
SCVL	SHOE CARNIVAL INC	32,399	$832K	1.0%	$9.69	+6.1%	COMM	824889109
—	IXIA	70,000	$788K	0.9%	$11.43	—	COMM	45071R109
—	MARKET VECTORS ETF TR OIL SVCS ETF	21,400	$769K	0.9%	$35.93	—	Call	57060U191
AAOI	APPLIED OPTOELECTRONICS INC	67,269	$755K	0.9%	$12.76	0.0%	COMM	03823U102
RICK	RCI HOSPITALITY HOLDINGS INC	65,333	$655K	0.8%	$11.30	-6.3%	COMM	74934Q108
—	FALCONSTOR SOFTWARE INC	484,559	$649K	0.7%	$1.40	—	COMM	306137100
SIGA	SIGA TECHNOLOGIES INC	435,976	$628K	0.7%	$2.45	-54.7%	COMM	826917106
—	REALD INC	50,000	$590K	0.7%	$9.92	—	COMM	75604L105
—	DIREXION SMALL CAP BEAR 3X	48,300	$580K	0.7%	$12.01	—	ETF	25459Y488
—	TRANSGENOMIC INC	283,907	$571K	0.7%	$2.92	—	COMM	89365K305
—	ZBB ENERGY CORP	1,073,100	$547K	0.6%	$0.56	—	COMM	98876R303
SPWH	SPORTSMAN`S WAREHOUSE HOLDIN	71,523	$524K	0.6%	$7.19	0.0%	COMM	84920Y106
—	IEC ELECTRONICS CORP	110,221	$524K	0.6%	$4.52	—	COMM	44949L105
—	MARKET VECTORS BIOTECH ETF	4,500	$519K	0.6%	—	—	Call	57060U183
—	ADVANCED PHOTONIX INC-CL A	1,741,463	$514K	0.6%	$0.55	—	COMM	00754E107
RAIL	FREIGHTCAR AMERICA INC	19,500	$513K	0.6%	$30.16	0.0%	COMM	357023100
—	SANDISK CORP	5,000	$490K	0.6%	—	—	Put	80004C101
—	ALON USA ENERGY INC	35,100	$445K	0.5%	$12.68	—	COMM	20520102
—	MARKET VECTORS ETF TR SEMICONDUCTOR ETF	8,000	$437K	0.5%	—	—	Put	57060U233
—	ROSETTA STONE INC	41,000	$400K	0.5%	$9.76	—	COMM	777780107
—	CUMULUS MEDIA INC-CL A	91,922	$389K	0.4%	$4.03	—	COMM	231082108
—	DEMAND MEDIA INC	62,761	$384K	0.4%	$4.86	—	COMM	24802N208
—	TILE SHOP HLDGS INC	41,469	$368K	0.4%	$8.87	—	COMM	88677Q109
EXTR	EXTREME NETWORKS INC	100,900	$356K	0.4%	$4.68	-22.0%	Call	30226D106
—	POTBELLY CORP	27,000	$347K	0.4%	$12.85	—	COMM	73754Y100
—	BLACK DIAMOND INC	39,100	$342K	0.4%	$7.86	—	COMM	09202G101
HD	HOME DEPOT INC	3,000	$315K	0.4%	—	—	Put	437076102
—	S&W SEED CO	72,855	$291K	0.3%	$3.99	—	COMM	785135104
—	ESSEX RENTAL CORP	212,950	$281K	0.3%	$1.32	—	COMM	297187106
KN	KNOWLES CORP	10,000	$236K	0.3%	—	—	Call	49926D109
—	NUMEREX CORP -CL A	20,000	$221K	0.3%	$12.77	—	Call	67053A102
—	MARKET VECTORS GOLD MINERS	11,100	$204K	0.2%	$18.38	—	ETF	57060U100
LXU	LSB INDUSTRIES INC	6,500	$204K	0.2%	$25.60	0.0%	COMM	502160104
—	PEAK RESORTS INC	20,500	$164K	0.2%	$8.00	—	COMM	70469L100
—	BALTIC TRADING LTD	58,600	$147K	0.2%	$6.44	—	COMM	Y0553W103
—	SERVICESOURCE INTERNATIONAL	31,100	$146K	0.2%	$3.22	—	COMM	81763U100
—	CUI GLOBAL INC	17,634	$131K	0.2%	$7.43	—	COMM	126576206
—	ADCARE HEALTH SYSTEMS INC	30,000	$120K	0.1%	—	—	Call	00650W300
—	MARKET VECTORS ETF TR OIL SVCS ETF	2,700	$97,000	0.1%	$35.93	—	ETF	57060U191
—	FX ENERGY INC	53,000	$83,000	0.1%	$3.60	—	Call	302695101
—	ECHELON CORP	40,012	$68,000	0.1%	$1.70	—	COMM	27874N105
—	INSIGNIA SYSTEMS INC	15,328	$55,000	0.1%	$2.82	—	COMM	45765Y105