Ulysses Management LLC Activity Q4 2010-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
SPY	Buy	S&P DEP 11-3-23 420 PUTput	$521,525,600	+7.0%	1,220,000	+10.9%	48.10%	+7.7%
AMZN	Sell	AMAZON.COMcall	$95,340,000	-26.9%	750,000	-25.0%	8.79%	-26.4%
AMZN	Buy	AMAZON.COM	$34,640,200	+3.2%	272,500	+5.8%	3.20%	+3.9%
UBER	Sell	UBER	$34,570,683	-1.3%	751,700	-7.3%	3.19%	-0.6%
BLL	New	BALL CORP	$24,890,000	–	500,000	–	2.30%	–
TLT	New	I SHARES TRcall	$22,172,500	–	250,000	–	2.04%	–
MTCH	Buy	MATCH GROUP	$21,224,976	+1.4%	541,799	+8.4%	1.96%	+2.1%
NKE	Buy	NIKE INC.cl b	$16,255,400	+47.3%	170,000	+70.0%	1.50%	+48.3%
TTWO	Sell	TAKE-TWO INTERACTIVE SOFTWRE	$14,012,326	-28.8%	99,810	-25.4%	1.29%	-28.4%
CCOI	Buy	COGENT COMMUNICATIONS	$11,485,050	+36.0%	185,542	+47.8%	1.06%	+36.8%
MTCH	Buy	MATCH GROUPcall	$9,793,750	+56.0%	250,000	+66.7%	0.90%	+57.0%
CZR	Buy	CAESARS ENTERTAINMENT	$8,203,950	-6.4%	177,000	+2.9%	0.76%	-5.7%
QQQ	Sell	INVESCO QQQ TRUST SERput	$8,061,075	-12.7%	22,500	-10.0%	0.74%	-12.2%
ARKK	New	ARK INNOVATION ETFput	$7,934,000	–	200,000	–	0.73%	–
IAC	New	IAC INTERACTIVECORPcall	$7,558,500	–	150,000	–	0.70%	–
	Sell	OFFERPAD SOLUTIONS INC	$7,533,598	-25.7%	771,885	-1.4%	0.70%	-25.3%
TKR	New	TIMKEN	$2,939,600	–	40,000	–	0.27%	–
SMH	Buy	SEMICONDUCTOR HOLDERSsemiconductr etf	$2,682,130	+46.8%	18,500	+54.2%	0.25%	+47.9%
ASML	New	ASML HOLDING NV NY REG	$2,354,640	–	4,000	–	0.22%	–
GOOGL	Buy	ALPHABET INC CLASS A COMMON STcap stk cl a	$2,290,050	+27.5%	17,500	+16.7%	0.21%	+27.9%
TECK	New	TECK RESOURCEScl b	$2,154,500	–	50,000	–	0.20%	–
NTB	Buy	BANK OF N.T. BUTTERFIELD	$1,895,600	+15.5%	70,000	+16.7%	0.18%	+16.7%
GOOGL	New	ALPHABET INC CLASS A COMMON STcall	$1,439,460	–	11,000	–	0.13%	–
	New	KENVUE INC	$1,004,000	–	50,000	–	0.09%	–
FB	New	META PLATFORMScl a	$900,630	–	3,000	–	0.08%	–
ROK	New	ROCKWELL	$571,740	–	2,000	–	0.05%	–
SEDG	New	SOLAREDGE TECHNOLOGIES	$518,040	–	4,000	–	0.05%	–
FCX	Exit	FREPORT MCMORAN CL Acl b	$0	–	-1	–	0.00%	–
QCOM	Exit	QUALCOMM INC	$0	–	-3,000	–	-0.03%	–
GNRC	Exit	GENERAC HLDGS INC	$0	–	-2,500	–	-0.03%	–
	Exit	F&G ANNUITIES AND LIFE INC	$0	–	-18,727	–	-0.04%	–
ORCL	Exit	ORACLE CORP	$0	–	-5,000	–	-0.06%	–
MRNA	Exit	MODERNA	$0	–	-5,100	–	-0.06%	–
XLE	Exit	ENERGY SECTOR SPDRenergy	$0	–	-15,000	–	-0.11%	–
XBI	Exit	SPDR S&P BIOTECHCSs&p biotech	$0	–	-15,000	–	-0.11%	–
YELP	Exit	YELPcl a	$0	–	-36,981	–	-0.12%	–
PFE	Exit	PFIZER INC	$0	–	-40,000	–	-0.13%	–
APD	Exit	AIR PRODUCTS & CHEM	$0	–	-5,000	–	-0.14%	–
PFE	Exit	PFIZER INCcall	$0	–	-50,000	–	-0.17%	–
AAPL	Exit	APPLE INC	$0	–	-10,000	–	-0.18%	–
AVGO	Exit	BROADCOMcall	$0	–	-2,500	–	-0.20%	–
ASML	Exit	ASML HOLDING NVcall	$0	–	-3,500	–	-0.23%	–
SBAC	Exit	SBA COMMUNICATIONS CORPcl a	$0	–	-30,000	–	-0.64%	–
FNF	Exit	FIDELITY NATIONAL FINANCIAL	$0	–	-437,400	–	-1.44%	–
BKI	Exit	BLACK KNIGHT	$0	–	-435,300	–	-2.38%	–

Q2 2023

			Value		Shares		↓ Weighting
SPY	New	SPDR S&P 500 ETF TRput	$487,608,000	–	1,100,000	–	44.68%	–
AMZN	New	AMAZON.COMcall	$130,360,000	–	1,000,000	–	11.94%	–
MSFT	New	MICROSOFT CORP	$71,615,562	–	210,300	–	6.56%	–
MSFT	New	MICROSOFT CORPput	$62,114,496	–	182,400	–	5.69%	–
UBER	New	UBER	$35,010,870	–	811,000	–	3.21%	–
AMZN	New	AMAZON.COM	$33,567,700	–	257,500	–	3.08%	–
IAC	New	IAC INTERACTIVECORP	$32,495,044	–	517,437	–	2.98%	–
BKI	New	BLACK KNIGHT	$26,000,469	–	435,300	–	2.38%	–
TMUS	New	T-MOBILE US INC	$21,952,173	–	158,043	–	2.01%	–
MTCH	New	MATCH GROUP	$20,925,000	–	500,000	–	1.92%	–
TTWO	New	TAKE-TWO INTERACTIVE SOFTWRE	$19,691,480	–	133,810	–	1.80%	–
FNF	New	FIDELITY NATIONAL FINANCIAL	$15,746,400	–	437,400	–	1.44%	–
SMWB	New	SIMILARWEB LTD	$14,977,976	–	2,283,228	–	1.37%	–
NKE	New	NIKE INC.cl b	$11,037,000	–	100,000	–	1.01%	–
APG	New	API GROUP CORP.	$10,229,315	–	375,250	–	0.94%	–
	New	OFFERPAD SOLUTIONS INC	$10,146,190	–	782,885	–	0.93%	–
QQQ	New	INVESCO QQQ TRput	$9,235,500	–	25,000	–	0.85%	–
ANGI	New	ANGI INC	$9,113,534	–	2,761,677	–	0.84%	–
CZR	New	CAESARS ENTERTAINMENT	$8,766,840	–	172,000	–	0.80%	–
CCOI	New	COGENT COMMUNICATIONS	$8,447,721	–	125,542	–	0.77%	–
SBAC	New	SBA COMMUNICATIONS CORPcl a	$6,952,800	–	30,000	–	0.64%	–
MTCH	New	MATCH GROUPcall	$6,277,500	–	150,000	–	0.58%	–
DCOM	New	DIME COMMUNITY BANCSHARES	$4,470,139	–	253,553	–	0.41%	–
	New	APOLLO GLOBAL MGT	$4,224,550	–	55,000	–	0.39%	–
PACK	New	RANPAK HOLDINGS CORP	$3,129,128	–	692,285	–	0.29%	–
ASML	New	ASML HOLDING NVcall	$2,536,625	–	3,500	–	0.23%	–
AVGO	New	BROADCOMcall	$2,168,575	–	2,500	–	0.20%	–
AAPL	New	APPLE INC	$1,939,700	–	10,000	–	0.18%	–
PFE	New	PFIZER INCcall	$1,834,000	–	50,000	–	0.17%	–
SMH	New	SEMICONDUCTOR HOLDERSsemiconductr etf	$1,827,000	–	12,000	–	0.17%	–
GOOGL	New	ALPHABET INCcap stk cl a	$1,795,500	–	15,000	–	0.16%	–
JPM	New	JPMORGAN CHASE & CO	$1,745,280	–	12,000	–	0.16%	–
KRE	New	KBW REG BNKGs&p regl bkg	$1,633,200	–	40,000	–	0.15%	–
NTB	New	BANK OF N.T. BUTTERFIELD	$1,641,600	–	60,000	–	0.15%	–
APD	New	AIR PRODUCTS & CHEM	$1,497,650	–	5,000	–	0.14%	–
PFE	New	PFIZER INC	$1,467,200	–	40,000	–	0.13%	–
YELP	New	YELPcl a	$1,346,478	–	36,981	–	0.12%	–
XBI	New	SPDR S&P BIOTECHCSs&p biotech	$1,248,000	–	15,000	–	0.11%	–
XLE	New	ENERGY SECTOR SPDRenergy	$1,217,550	–	15,000	–	0.11%	–
NOK	New	NOKIA CORP.sponsored adr	$832,000	–	200,000	–	0.08%	–
MRNA	New	MODERNA	$619,650	–	5,100	–	0.06%	–
ORCL	New	ORACLE CORP	$595,450	–	5,000	–	0.06%	–
	New	F&G ANNUITIES AND LIFE INC	$464,055	–	18,727	–	0.04%	–
GNRC	New	GENERAC HLDGS INC	$372,825	–	2,500	–	0.03%	–
QCOM	New	QUALCOMM INC	$357,120	–	3,000	–	0.03%	–
	New	ARCHER AVIATION INCWTS*w exp 09/16/202	$92,223	–	112,467	–	0.01%	–
TBLAW	New	TABOOLA.COM LTD WRNT*w exp 06/29/202	$36,000	–	90,000	–	0.00%	–
FCX	New	FREPORT MCMORAN CL Acl b	$40	–	1	–	0.00%	–
	New	INNOVID CORP CLASS A WRTNS*w exp 11/30/202	$2,219	–	22,187	–	0.00%	–
SLACWS	New	SOCIAL LEVERAGE ACQUISN CORP*w exp 02/17/202	$1,430	–	22,000	–	0.00%	–

Q4 2022

			Value		Shares		↓ Weighting
SLACWS	Exit	SOCIAL LEVERAGE ACQUISN CORPunit 99/99/9999	$0	–	-25,000	–	-0.00%	–
	Exit	INNOVID CORP CLASS A WRTNS*w exp 11/30/202	$0	–	-25,217	–	-0.00%	–
TBLAW	Exit	TABOOLA.COM LTD WRNT*w exp 06/29/202	$0	–	-100,000	–	-0.01%	–
	Exit	ARCHER AVIATION INCWTS*w exp 09/16/202	$0	–	-125,000	–	-0.01%	–
ERIC	Exit	ERICSSONadr b sek 10	$0	–	-60,000	–	-0.05%	–
XBI	Exit	SPDR SER TRs&p biotech	$0	–	-5,000	–	-0.06%	–
GOOGL	Exit	ALPHABET INC CLASS A COMMON STcap stk cl a	$0	–	-5,000	–	-0.07%	–
NCR	Exit	NCR CORP	$0	–	-25,000	–	-0.07%	–
AAPL	Exit	APPLE INC	$0	–	-5,000	–	-0.10%	–
DD	Exit	DUPONT DE NEMOURS INC	$0	–	-15,200	–	-0.11%	–
VRT	Exit	VERTIV HOLDINGS CO	$0	–	-90,000	–	-0.12%	–
TBBK	Exit	BANCORP INC	$0	–	-40,000	–	-0.13%	–
NTB	Exit	BANK OF N.T. BUTTERFIELD	$0	–	-30,000	–	-0.14%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-10,000	–	-0.15%	–
MRNA	Exit	MODERNA	$0	–	-9,000	–	-0.15%	–
CUBI	Exit	CUSTOMERS BANCORP	$0	–	-40,000	–	-0.17%	–
SBNY	Exit	SIGNATURE BANK	$0	–	-8,000	–	-0.17%	–
UNH	Exit	UNITEDHEALTH GROUP INC	$0	–	-3,000	–	-0.22%	–
CFG	Exit	CITIZENS FINANCIAL GROUP INC	$0	–	-50,000	–	-0.25%	–
APD	Exit	AIR PRODUCTS & CHEMS INC	$0	–	-8,000	–	-0.27%	–
WFC	Exit	WELLS FARGO AND CO.	$0	–	-50,000	–	-0.29%	–
PACK	Exit	RANPAK HOLDINGS CORP	$0	–	-808,572	–	-0.40%	–
	Exit	OFFERPAD SOLUTIONS INC	$0	–	-2,895,793	–	-0.50%	–
TBK	Exit	TRIUMPH BANCORP INC	$0	–	-80,000	–	-0.62%	–
ANGI	Exit	ANGI INC	$0	–	-1,611,246	–	-0.68%	–
MTCH	Exit	MATCH GROUP INC	$0	–	-100,000	–	-0.68%	–
APG	Exit	API GROUP CORP.	$0	–	-439,707	–	-0.83%	–
MDY	Exit	SPDR S&P MIDCAP 400 ETF TRutser1 s&pdcrp	$0	–	-16,000	–	-0.92%	–
AXP	Exit	AMERICAN EXPRESS CO	$0	–	-50,000	–	-0.96%	–
CZR	Exit	CAESARS ENTERTAINMENT INC	$0	–	-240,000	–	-1.11%	–
ULTA	Exit	ULTA SALON COSMETICS &	$0	–	-20,000	–	-1.15%	–
CZR	Exit	CAESARS ENTERTAINMENT INCcall	$0	–	-250,000	–	-1.15%	–
UBER	Exit	UBER TECHNOLOGIES INCcall	$0	–	-350,000	–	-1.33%	–
DCOM	Exit	DIME COMMUNITY BANCSHARES	$0	–	-325,027	–	-1.36%	–
SMWB	Exit	SIMILARWEB LTD	$0	–	-2,413,751	–	-2.02%	–
TTWO	Exit	TAKE-TWO INTERACTIVE SOFTWRE	$0	–	-155,000	–	-2.42%	–
SPY	Exit	SPDR S&P 500 ETF TRtr unit	$0	–	-50,000	–	-2.55%	–
FNF	Exit	FIDELITY NATIONAL FINANCIAL	$0	–	-529,048	–	-2.74%	–
BKI	Exit	BLACK KNIGHT INC	$0	–	-381,038	–	-3.53%	–
AMZN	Exit	AMAZON COM INC	$0	–	-295,500	–	-4.77%	–
IAC	Exit	IAC INC	$0	–	-612,510	–	-4.85%	–
TMUS	Exit	T-MOBILE US INC	$0	–	-259,004	–	-4.97%	–
UBER	Exit	UBER TECHNOLOGIES INC	$0	–	-1,554,550	–	-5.89%	–
MSFT	Exit	MICROSOFT CORPput	$0	–	-191,500	–	-6.38%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-234,200	–	-7.80%	–
IWM	Exit	ISHARES TRput	$0	–	-350,000	–	-8.25%	–
SPY	Exit	SPDR S&P 500 ETF TRput	$0	–	-580,000	–	-29.62%	–

Q3 2022

			Value		Shares		↓ Weighting
SPY	Buy	SPDR S&P 500 ETF TRput	$207,164,000	+37.3%	580,000	+45.0%	29.62%	+26.1%
IWM	New	ISHARES TRput	$57,722,000	–	350,000	–	8.25%	–
MSFT	Buy	MICROSOFT CORPput	$44,600,000	+27.7%	191,500	+40.8%	6.38%	+17.3%
UBER	Buy	UBER TECHNOLOGIES INC	$41,196,000	+64.7%	1,554,550	+27.1%	5.89%	+51.3%
TMUS	Sell	T-MOBILE US INC	$34,751,000	-4.0%	259,004	-3.7%	4.97%	-11.8%
IAC	Buy	IAC INC	$33,921,000	-11.9%	612,510	+20.8%	4.85%	-19.1%
AMZN	Buy	AMAZON COM INC	$33,392,000	+62.1%	295,500	+52.3%	4.77%	+48.9%
FNF	Buy	FIDELITY NATIONAL FINANCIAL	$19,152,000	+7.9%	529,048	+10.2%	2.74%	-0.9%
SPY	New	SPDR S&P 500 ETF TRtr unit	$17,859,000	–	50,000	–	2.55%	–
TTWO	Buy	TAKE-TWO INTERACTIVE SOFTWRE	$16,895,000	+6.1%	155,000	+19.2%	2.42%	-2.5%
CZR	Buy	CAESARS ENTERTAINMENT INCcall	$8,065,000	+110.6%	250,000	+150.0%	1.15%	+93.5%
ULTA	Sell	ULTA SALON COSMETICS &	$8,024,000	-16.7%	20,000	-20.0%	1.15%	-23.5%
CZR	Sell	CAESARS ENTERTAINMENT INC	$7,742,000	-21.0%	240,000	-6.2%	1.11%	-27.5%
AXP	Buy	AMERICAN EXPRESS CO	$6,746,000	+62.2%	50,000	+66.7%	0.96%	+49.1%
MDY	New	SPDR S&P MIDCAP 400 ETF TRutser1 s&pdcrp	$6,427,000	–	16,000	–	0.92%	–
MTCH	New	MATCH GROUP INC	$4,775,000	–	100,000	–	0.68%	–
ANGI	Sell	ANGI INC	$4,753,000	-67.0%	1,611,246	-48.8%	0.68%	-69.7%
	Sell	OFFERPAD SOLUTIONS INC	$3,504,000	-51.8%	2,895,793	-13.2%	0.50%	-55.7%
PACK	Buy	RANPAK HOLDINGS CORP	$2,765,000	-13.3%	808,572	+77.4%	0.40%	-20.4%
WFC	Buy	WELLS FARGO AND CO.	$2,011,000	+28.3%	50,000	+25.0%	0.29%	+18.0%
APD	Buy	AIR PRODUCTS & CHEMS INC	$1,862,000	+3.2%	8,000	+6.7%	0.27%	-5.3%
CFG	Buy	CITIZENS FINANCIAL GROUP INC	$1,718,000	+60.4%	50,000	+66.7%	0.25%	+47.3%
UNH	New	UNITEDHEALTH GROUP INC	$1,515,000	–	3,000	–	0.22%	–
SBNY	New	SIGNATURE BANK	$1,208,000	–	8,000	–	0.17%	–
CUBI	New	CUSTOMERS BANCORP	$1,179,000	–	40,000	–	0.17%	–
MRNA	New	MODERNA	$1,064,000	–	9,000	–	0.15%	–
JPM	Sell	JPMORGAN CHASE & CO	$1,045,000	-61.3%	10,000	-58.3%	0.15%	-64.6%
AAPL	Sell	APPLE INC	$691,000	-57.9%	5,000	-58.3%	0.10%	-61.2%
GOOGL	New	ALPHABET INC CLASS A COMMON STcap stk cl a	$478,000	–	5,000	–	0.07%	–
XBI	New	SPDR SER TRs&p biotech	$397,000	–	5,000	–	0.06%	–
ERIC	Sell	ERICSSONadr b sek 10	$344,000	-45.3%	60,000	-29.4%	0.05%	-50.0%
ATI	Exit	ALLEGHENY TECHNOLOGIES INC	$0	–	-2,126	–	-0.01%	–
PSTHWS	Exit	PERSHING SQUARE TONTINE WTS*w exp 07/24/202	$0	–	-100,000	–	-0.01%	–
HBAN	Exit	HUNTINGTON BANCSHARES	$0	–	-50,000	–	-0.09%	–
TKR	Exit	TIMKEN CO	$0	–	-15,000	–	-0.12%	–
MKSI	Exit	MKS INSTRUMENTS INC	$0	–	-8,000	–	-0.13%	–
AAPL	Exit	APPLE INCput	$0	–	-10,000	–	-0.21%	–
AMZN	Exit	AMAZON COM INCcall	$0	–	-20,000	–	-0.33%	–
MLM	Exit	MARTIN MARIETTA MATERIALS	$0	–	-13,000	–	-0.60%	–
HTZZ	Exit	HERTZ GLOBAL HOLDINGS	$0	–	-250,000	–	-0.62%	–
ZEN	Exit	ZENDESK INC	$0	–	-65,000	–	-0.75%	–
SPY	Exit	SPDR S&P 500 ETF TRcall	$0	–	-15,000	–	-0.88%	–
TTWO	Exit	TAKE-TWO INTERACTIVE SOFTWREcall	$0	–	-100,000	–	-1.91%	–
TMUS	Exit	T-MOBILE US INCcall	$0	–	-100,000	–	-2.09%	–
ZEN	Exit	ZENDESK INCcall	$0	–	-193,900	–	-2.24%	–
FNF	Exit	FIDELITY NATIONAL FINANCIALcall	$0	–	-450,000	–	-2.59%	–
V	Exit	VISA INC	$0	–	-115,000	–	-3.52%	–

Q2 2022

			Value		Shares		↓ Weighting
SPY	New	SPDR S&P 500 ETF TRput	$150,900,000	–	400,000	–	23.48%	–
MSFT	New	MICROSOFT CORP	$60,150,000	–	234,200	–	9.36%	–
IAC	New	IAC INTERACTIVECORP	$38,506,000	–	506,856	–	5.99%	–
TMUS	New	T-MOBILE US INC	$36,192,000	–	269,004	–	5.63%	–
MSFT	New	MICROSOFT CORPput	$34,929,000	–	136,000	–	5.44%	–
UBER	New	UBER TECHNOLOGIES INC	$25,017,000	–	1,222,750	–	3.89%	–
BKI	New	BLACK KNIGHT INC	$24,916,000	–	381,038	–	3.88%	–
V	New	VISA INC	$22,642,000	–	115,000	–	3.52%	–
AMZN	New	AMAZON COM INC	$20,605,000	–	194,000	–	3.21%	–
SMWB	New	SIMILARWEB LTD	$19,913,000	–	2,413,751	–	3.10%	–
FNF	New	FIDELITY NATIONAL FINANCIAL	$17,750,000	–	480,247	–	2.76%	–
FNF	New	FIDELITY NATIONAL FINANCIALcall	$16,632,000	–	450,000	–	2.59%	–
TTWO	New	TAKE-TWO INTERACTIVE SOFTWRE	$15,929,000	–	130,000	–	2.48%	–
ANGI	New	ANGI INC	$14,414,000	–	3,147,174	–	2.24%	–
ZEN	New	ZENDESK INCcall	$14,362,000	–	193,900	–	2.24%	–
TMUS	New	T-MOBILE US INCcall	$13,454,000	–	100,000	–	2.09%	–
TTWO	New	TAKE-TWO INTERACTIVE SOFTWREcall	$12,253,000	–	100,000	–	1.91%	–
CZR	New	CAESARS ENTERTAINMENT INC	$9,805,000	–	256,000	–	1.53%	–
ULTA	New	ULTA BEAUTY INC	$9,637,000	–	25,000	–	1.50%	–
DCOM	New	DIME COMMUNITY BANCSHARES	$9,637,000	–	325,027	–	1.50%	–
	New	OFFERPAD SOLUTIONS INC	$7,272,000	–	3,335,796	–	1.13%	–
UBER	New	UBER TECHNOLOGIES INCcall	$7,161,000	–	350,000	–	1.11%	–
APG	New	API GROUP CORP.	$6,582,000	–	439,707	–	1.02%	–
SPY	New	SPDR S&P 500 ETF TRcall	$5,659,000	–	15,000	–	0.88%	–
TBK	New	TRIUMPH BANCORP INC	$5,005,000	–	80,000	–	0.78%	–
ZEN	New	ZENDESK INC	$4,815,000	–	65,000	–	0.75%	–
AXP	New	AMERICAN EXPRESS CO	$4,159,000	–	30,000	–	0.65%	–
HTZZ	New	HERTZ GLOBAL HOLDINGS	$3,960,000	–	250,000	–	0.62%	–
MLM	New	MARTIN MARIETTA MATERIALS	$3,890,000	–	13,000	–	0.60%	–
CZR	New	CAESARS ENTERTAINMENT INCcall	$3,830,000	–	100,000	–	0.60%	–
PACK	New	RANPAK HOLDINGS CORP	$3,190,000	–	455,741	–	0.50%	–
JPM	New	JPMORGAN CHASE & CO	$2,703,000	–	24,000	–	0.42%	–
AMZN	New	AMAZON COM INCcall	$2,124,000	–	20,000	–	0.33%	–
APD	New	AIR PRODUCTS & CHEMS INC	$1,804,000	–	7,500	–	0.28%	–
AAPL	New	APPLE INC	$1,641,000	–	12,000	–	0.26%	–
WFC	New	WELLS FARGO AND CO.	$1,567,000	–	40,000	–	0.24%	–
AAPL	New	APPLE INCput	$1,367,000	–	10,000	–	0.21%	–
CFG	New	CITIZENS FINANCIAL GRP INC	$1,071,000	–	30,000	–	0.17%	–
NTB	New	BANK OF N.T. BUTTERFIELD	$936,000	–	30,000	–	0.15%	–
DD	New	DUPONT DE NEMOURS INC	$845,000	–	15,200	–	0.13%	–
MKSI	New	MKS INSTRUMENTS INC	$821,000	–	8,000	–	0.13%	–
TKR	New	TIMKEN CO	$796,000	–	15,000	–	0.12%	–
TBBK	New	BANCORP INC DEL	$781,000	–	40,000	–	0.12%	–
NCR	New	NCR CORP	$778,000	–	25,000	–	0.12%	–
VRT	New	VERTIV HLGS CO	$740,000	–	90,000	–	0.12%	–
ERIC	New	ERICSSONadr b sek 10	$629,000	–	85,000	–	0.10%	–
HBAN	New	HUNTINGTON BANCSHARES	$602,000	–	50,000	–	0.09%	–
	New	ARCHER AVIATION INCWTS*w exp 09/16/202	$71,000	–	125,000	–	0.01%	–
PSTHWS	New	PERSHING SQUARE TONTINE WTS*w exp 07/24/202	$43,000	–	100,000	–	0.01%	–
ATI	New	ALLEGHENY TECHNOLOGIES INC	$48,000	–	2,126	–	0.01%	–
TBLAW	New	TABOOLA.COM LTD*w exp 06/29/202	$35,000	–	100,000	–	0.01%	–
	New	INNOVID CORP CLASS A WRTNS*w exp 11/30/202	$6,000	–	25,217	–	0.00%	–
SLACWS	New	SOCIAL LEVERAGE ACQUISN CORP*w exp 02/17/202	$4,000	–	25,000	–	0.00%	–

Q4 2021

			Value		Shares		↓ Weighting
SLACWS	Exit	SOCIAL LEVERAGE ACQUISN CORP*w exp 02/17/202	$0	–	-25,000	–	-0.00%	–
IACBWS	Exit	WTS ION ACQUISITION CORP 2 LTD WRNTS*w exp 02/17/202	$0	–	-25,217	–	-0.00%	–
PSTHWS	Exit	PERSHING SQUARE WTS*w exp 07/24/202	$0	–	-100,000	–	-0.01%	–
TBLAW	Exit	TABOOLA.COM WRNT*w exp 06/29/202	$0	–	-100,000	–	-0.02%	–
	Exit	ARCHER AVIATION INCWTS*w exp 09/16/202	$0	–	-125,000	–	-0.02%	–
SNAP	Exit	SNAP INCcl a	$0	–	-7,500	–	-0.06%	–
TPIC	Exit	TPI COMPOSITES INC	$0	–	-20,000	–	-0.07%	–
MTRN	Exit	MATERION CORP	$0	–	-10,000	–	-0.07%	–
TBBK	Exit	BANCORP INC DEL	$0	–	-30,000	–	-0.08%	–
MS	Exit	MORGAN STANLEY	$0	–	-9,000	–	-0.09%	–
IACB	Exit	ION ACQUISTION CORP 2 LTD CLASS A	$0	–	-91,509	–	-0.10%	–
DIS	Exit	DISNEY (WALT) CORP	$0	–	-5,500	–	-0.10%	–
HBAN	Exit	HUNTINGTON BANCSHARES INC	$0	–	-70,000	–	-0.11%	–
XLF	Exit	SELECT SECTOR SPDR TRcall	$0	–	-30,000	–	-0.12%	–
FCX	Exit	FREEPORT-MCMORAN INCcall	$0	–	-35,000	–	-0.12%	–
NCR	Exit	NCR CORP NEW	$0	–	-30,000	–	-0.12%	–
PYPL	Exit	PAYPAL HOLDINGS INC	$0	–	-5,000	–	-0.14%	–
BK	Exit	BANK NEW YORK MELLON CORP	$0	–	-25,000	–	-0.14%	–
GS	Exit	GOLDMAN SACHS GROUP INC	$0	–	-3,500	–	-0.14%	–
AAPL	Exit	APPLE INCput	$0	–	-10,000	–	-0.15%	–
GLW	Exit	CORNING INC	$0	–	-39,912	–	-0.15%	–
CVS	Exit	CVS HEALTH CORP	$0	–	-20,000	–	-0.18%	–
AAPL	Exit	APPLE INC	$0	–	-12,500	–	-0.18%	–
NTB	Exit	BANK OF N.T. BUTTERFIELD	$0	–	-50,000	–	-0.19%	–
	Exit	ARCHER AVIATION INC	$0	–	-200,000	–	-0.19%	–
WFC	Exit	WELLS FARGO CO	$0	–	-40,000	–	-0.19%	–
COP	Exit	CONOCOPHILLIPS	$0	–	-30,000	–	-0.21%	–
C	Exit	CITIGROUP INC	$0	–	-30,000	–	-0.22%	–
FISV	Exit	FISERV INC	$0	–	-20,000	–	-0.23%	–
	Exit	OFFERPAD SOLUTIONS INCput	$0	–	-300,000	–	-0.27%	–
WMT	Exit	WALMART INC	$0	–	-20,000	–	-0.29%	–
MSFT	Exit	MICROSOFT CORPput	$0	–	-12,500	–	-0.37%	–
PSTH	Exit	PERSHING SQUARE TONTINE HLDGS UNITS	$0	–	-369,403	–	-0.76%	–
FB	Exit	FACEBOOK INC CL Acl a	$0	–	-23,500	–	-0.84%	–
GOOGL	Exit	ALPHABET INCcall	$0	–	-3,000	–	-0.84%	–
APG	Exit	API GROUP CORP.	$0	–	-439,707	–	-0.94%	–
GDOT	Exit	GREEN DOT CORPcl a	$0	–	-184,250	–	-0.97%	–
ERIC	Exit	ERICSSONadr b sek 10	$0	–	-1,030,200	–	-1.21%	–
NFLX	Exit	NETFLIX INC	$0	–	-20,000	–	-1.28%	–
DCOM	Exit	DIME COMMUNITY BANCSHARES	$0	–	-407,399	–	-1.39%	–
PACK	Exit	RANPAK HOLDINGS CORP	$0	–	-592,612	–	-1.66%	–
HMHC	Exit	HOUGHTON MIFFLIN HARCOURT	$0	–	-1,310,000	–	-1.84%	–
AMZN	Exit	AMAZON COM INC	$0	–	-5,610	–	-1.93%	–
VMEO	Exit	VIMEO INC	$0	–	-712,247	–	-2.19%	–
CMCSA	Exit	COMCAST CORP. CL Acl a	$0	–	-384,500	–	-2.25%	–
V	Exit	VISA INC	$0	–	-100,000	–	-2.33%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-141,500	–	-2.43%	–
TWTR	Exit	TWITTER INCcall	$0	–	-400,000	–	-2.53%	–
TMUS	Exit	T-MOBILE US INC	$0	–	-231,304	–	-3.10%	–
	Exit	OFFERPAD SOLUTIONS INC	$0	–	-3,446,730	–	-3.15%	–
TWTR	Exit	TWITTER INC	$0	–	-539,245	–	-3.41%	–
ANGI	Exit	ANGI INC	$0	–	-2,690,223	–	-3.48%	–
FNF	Exit	FIDELITY NATIONAL FINANCIAL	$0	–	-938,912	–	-4.46%	–
UBER	Exit	UBER TECHNOLOGIES INC	$0	–	-968,500	–	-4.54%	–
IAC	Exit	IAC INTERACTIVECORP	$0	–	-354,449	–	-4.84%	–
UBER	Exit	UBER TECHNOLOGIES INCcall	$0	–	-1,060,000	–	-4.97%	–
AMZN	Exit	AMAZON COM INCcall	$0	–	-15,000	–	-5.16%	–
QQQ	Exit	INVESCO QQQ TRput	$0	–	-150,000	–	-5.62%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-234,200	–	-6.92%	–
IWM	Exit	ISHARES TRput	$0	–	-900,000	–	-20.62%	–

Q3 2021

			Value		Shares		↓ Weighting
IWM	New	ISHARES TRput	$196,875,000	–	900,000	–	20.62%	–
QQQ	New	INVESCO QQQ TRput	$53,694,000	–	150,000	–	5.62%	–
AMZN	Sell	AMAZON COM INCcall	$49,276,000	-13.2%	15,000	-9.1%	5.16%	-27.8%
UBER	Buy	UBER TECHNOLOGIES INCcall	$47,488,000	+136.9%	1,060,000	+165.0%	4.97%	+97.1%
IAC	Buy	IAC INTERACTIVECORP	$46,181,000	+6.4%	354,449	+25.8%	4.84%	-11.5%
UBER	Buy	UBER TECHNOLOGIES INC	$43,389,000	-3.2%	968,500	+8.3%	4.54%	-19.4%
ANGI	Buy	ANGI INC	$33,197,000	-4.3%	2,690,223	+4.9%	3.48%	-20.3%
	New	OFFERPAD SOLUTIONS INC	$30,055,000	–	3,446,730	–	3.15%	–
TMUS	Sell	T-MOBILE US INC	$29,551,000	-24.5%	231,304	-14.4%	3.10%	-37.2%
TWTR	New	TWITTER INCcall	$24,156,000	–	400,000	–	2.53%	–
JPM	Buy	JPMORGAN CHASE & CO	$23,162,000	+461.9%	141,500	+434.0%	2.43%	+367.4%
CMCSA	Buy	COMCAST CORP. CL Acl a	$21,505,000	+0.7%	384,500	+2.7%	2.25%	-16.2%
VMEO	Buy	VIMEO INC	$20,919,000	-6.6%	712,247	+55.8%	2.19%	-22.3%
AMZN	Buy	AMAZON COM INC	$18,430,000	+234.8%	5,610	+250.6%	1.93%	+178.5%
PACK	Sell	RANPAK HOLDINGS CORP	$15,894,000	-15.4%	592,612	-21.1%	1.66%	-29.6%
DCOM	Sell	DIME COMMUNITY BANCSHARES	$13,306,000	-51.7%	407,399	-50.3%	1.39%	-59.8%
GDOT	Buy	GREEN DOT CORPcl a	$9,273,000	+20.9%	184,250	+12.5%	0.97%	+0.5%
GOOGL	New	ALPHABET INCcall	$8,021,000	–	3,000	–	0.84%	–
FB	Sell	FACEBOOK INC CL Acl a	$7,976,000	-75.2%	23,500	-74.6%	0.84%	-79.4%
PSTH	Sell	PERSHING SQUARE TONTINE HLDGS UNITS	$7,277,000	-29.8%	369,403	-18.8%	0.76%	-41.6%
MSFT	Sell	MICROSOFT CORPput	$3,524,000	+0.1%	12,500	-3.8%	0.37%	-16.7%
WMT	Sell	WALMART INC	$2,788,000	-34.1%	20,000	-33.3%	0.29%	-45.1%
	New	OFFERPAD SOLUTIONS INCput	$2,616,000	–	300,000	–	0.27%	–
FISV	Buy	FISERV INC	$2,170,000	+35.4%	20,000	+33.3%	0.23%	+12.4%
C	New	CITIGROUP INC	$2,105,000	–	30,000	–	0.22%	–
COP	New	CONOCOPHILLIPS	$2,033,000	–	30,000	–	0.21%	–
WFC	Sell	WELLS FARGO CO	$1,856,000	-31.7%	40,000	-33.3%	0.19%	-43.3%
	New	ARCHER AVIATION INC	$1,776,000	–	200,000	–	0.19%	–
AAPL	Buy	APPLE INC	$1,769,000	+17.4%	12,500	+13.6%	0.18%	-2.6%
CVS	Sell	CVS HEALTH CORP	$1,697,000	-36.4%	20,000	-37.5%	0.18%	-47.0%
GLW	Buy	CORNING INC	$1,456,000	+42.3%	39,912	+59.6%	0.15%	+18.6%
AAPL	New	APPLE INCput	$1,415,000	–	10,000	–	0.15%	–
GS	New	GOLDMAN SACHS GROUP INC	$1,323,000	–	3,500	–	0.14%	–
PYPL	Buy	PAYPAL HOLDINGS INC	$1,301,000	+11.6%	5,000	+25.0%	0.14%	-7.5%
BK	Sell	BANK NEW YORK MELLON CORP	$1,296,000	-49.4%	25,000	-50.0%	0.14%	-57.8%
NCR	New	NCR CORP NEW	$1,163,000	–	30,000	–	0.12%	–
FCX	New	FREEPORT-MCMORAN INCcall	$1,139,000	–	35,000	–	0.12%	–
XLF	Buy	SELECT SECTOR SPDR TRcall	$1,126,000	+22.8%	30,000	+20.0%	0.12%	+2.6%
DIS	Sell	DISNEY (WALT) CORP	$930,000	-41.2%	5,500	-38.9%	0.10%	-51.3%
MS	New	MORGAN STANLEY	$876,000	–	9,000	–	0.09%	–
TBBK	Sell	BANCORP INC DEL	$764,000	-66.8%	30,000	-70.0%	0.08%	-72.4%
MTRN	New	MATERION CORP	$686,000	–	10,000	–	0.07%	–
TPIC	Buy	TPI COMPOSITES INC	$675,000	-7.0%	20,000	+33.3%	0.07%	-22.0%
SNAP	Sell	SNAP INCcl a	$554,000	-22.5%	7,500	-28.6%	0.06%	-35.6%
	New	ARCHER AVIATION INCWTS*w exp 09/16/202	$199,000	–	125,000	–	0.02%	–
ACICWS	Exit	ATLASCREST INVESTMENT COR-A WTS*w exp 01/30/202	$0	–	-125,000	–	-0.02%	–
INTC	Exit	INTEL CORP	$0	–	-10,000	–	-0.07%	–
CHTR	Exit	CHARTER COMMUNICATN CLASS Acl a	$0	–	-800	–	-0.07%	–
DD	Exit	DUPONT DE NEMOURS INC	$0	–	-10,000	–	-0.10%	–
UNP	Exit	UNION PACIFIC CORP	$0	–	-4,000	–	-0.11%	–
KMT	Exit	KENNNEMETAL INC	$0	–	-30,000	–	-0.14%	–
HUN	Exit	HUNTSMAN CORP	$0	–	-50,360	–	-0.17%	–
AAPL	Exit	APPLE COMPUTER INCcall	$0	–	-10,000	–	-0.17%	–
BAC	Exit	BANK OF AMERICAcall	$0	–	-35,000	–	-0.18%	–
TBLA	Exit	TABOOLA COM LTD	$0	–	-150,000	–	-0.20%	–
STT	Exit	STATE STREET CORP.	$0	–	-20,000	–	-0.21%	–
ZM	Exit	ZOOM VIDEO COMMUNICATIONS INCcall	$0	–	-5,000	–	-0.24%	–
IAU	Exit	ISHARES GOLD TRishares new	$0	–	-70,000	–	-0.30%	–
SMH	Exit	VANECK VECTORS ETF TRcall	$0	–	-12,500	–	-0.41%	–
LBRDK	Exit	LIBERTY BROADBAND CORP	$0	–	-55,000	–	-1.20%	–
GLD	Exit	SPDR GOLD TR	$0	–	-60,000	–	-1.25%	–
DBX	Exit	DROPBOX INCcl a	$0	–	-450,000	–	-1.72%	–
GOOG	Exit	ALPHABET INCcall	$0	–	-6,500	–	-2.00%	–
MU	Exit	MICRON TECHNOLOGY INCcall	$0	–	-350,000	–	-3.74%	–
SPY	Exit	SPDR S&P 500 ETF TRput	$0	–	-150,000	–	-8.08%	–

Q2 2021

			Value		Shares		↓ Weighting
SPY	New	SPDR S&P 500 ETF TRput	$64,209,000	–	150,000	–	8.08%	–
MSFT	New	MICROSOFT CORP	$63,445,000	–	234,200	–	7.98%	–
AMZN	New	AMAZON.COMcall	$56,763,000	–	16,500	–	7.14%	–
UBER	New	UBER TECHNOLOGIES INC	$44,818,000	–	894,216	–	5.64%	–
IAC	New	IAC INTERACTIVECORP	$43,422,000	–	281,649	–	5.46%	–
FNF	New	FIDELITY NATIONAL FINANCIAL	$40,805,000	–	938,912	–	5.14%	–
TMUS	New	T-MOBILE US INC	$39,148,000	–	270,304	–	4.93%	–
TWTR	New	TWITTER INC	$37,105,000	–	539,245	–	4.67%	–
ANGI	New	ANGI HOME SERVICES	$34,684,000	–	2,565,393	–	4.36%	–
FB	New	FACEBOOK INC CL Acl a	$32,163,000	–	92,500	–	4.05%	–
MU	New	MICRON TECHNOLOGY INCcall	$29,743,000	–	350,000	–	3.74%	–
DCOM	New	DIME COMMUNITY BANCSHARES	$27,549,000	–	819,437	–	3.47%	–
V	New	VISA INC	$23,382,000	–	100,000	–	2.94%	–
VMEO	New	VIMEO INC	$22,405,000	–	457,255	–	2.82%	–
CMCSA	New	COMCAST CORP. CL Acl a	$21,354,000	–	374,500	–	2.69%	–
UBER	New	UBER TECHNOLOGIES INCcall	$20,048,000	–	400,000	–	2.52%	–
PACK	New	RANPAK HOLDINGS CORP	$18,792,000	–	750,770	–	2.36%	–
GOOG	New	ALPHABET INCcall	$15,872,000	–	6,500	–	2.00%	–
HMHC	New	HOUGHTON MIFFLIN HARCOURT	$14,462,000	–	1,310,000	–	1.82%	–
DBX	New	DROPBOX INCcl a	$13,640,000	–	450,000	–	1.72%	–
ERIC	New	ERICSSONadr b sek 10	$12,960,000	–	1,030,200	–	1.63%	–
NFLX	New	NETFLIX INC	$10,564,000	–	20,000	–	1.33%	–
PSTH	New	PERSHING SQUARE TONTINE HLDGS UNITS	$10,359,000	–	455,155	–	1.30%	–
GLD	New	SPDR GOLD TR	$9,938,000	–	60,000	–	1.25%	–
LBRDK	New	LIBERTY BROADBAND CORP	$9,551,000	–	55,000	–	1.20%	–
APG	New	API GROUP CORP.	$9,185,000	–	439,707	–	1.16%	–
GDOT	New	GREEN DOT CL Acl a	$7,672,000	–	163,750	–	0.97%	–
AMZN	New	AMAZON.COM	$5,504,000	–	1,600	–	0.69%	–
WMT	New	WALMART INC	$4,231,000	–	30,000	–	0.53%	–
JPM	New	JPMORGAN CHASE & CO	$4,122,000	–	26,500	–	0.52%	–
MSFT	New	MICROSOFT CORPput	$3,522,000	–	13,000	–	0.44%	–
SMH	New	VANECK VECTORS ETF TRcall	$3,278,000	–	12,500	–	0.41%	–
WFC	New	WELLS FARGO CO	$2,717,000	–	60,000	–	0.34%	–
CVS	New	CVS CORP	$2,670,000	–	32,000	–	0.34%	–
BK	New	BANK OF NEW YORK CO	$2,562,000	–	50,000	–	0.32%	–
IAU	New	ISHARES GOLD TRishares new	$2,360,000	–	70,000	–	0.30%	–
TBBK	New	THE BANCORP INC	$2,301,000	–	100,000	–	0.29%	–
ZM	New	ZOOM VIDEO COMMUNICATIONS INCcall	$1,935,000	–	5,000	–	0.24%	–
NTB	New	BANK OF N.T. BUTTERFIELD	$1,773,000	–	50,000	–	0.22%	–
STT	New	STATE STREET CORP.	$1,646,000	–	20,000	–	0.21%	–
FISV	New	FISERV INC	$1,603,000	–	15,000	–	0.20%	–
DIS	New	DISNEY (WALT) CORP	$1,582,000	–	9,000	–	0.20%	–
TBLA	New	TABOOLA COM LTD	$1,553,000	–	150,000	–	0.20%	–
AAPL	New	APPLE COMPUTER INC	$1,507,000	–	11,000	–	0.19%	–
BAC	New	BANK OF AMERICAcall	$1,443,000	–	35,000	–	0.18%	–
AAPL	New	APPLE COMPUTER INCcall	$1,370,000	–	10,000	–	0.17%	–
HUN	New	HUNTSMAN CORP	$1,336,000	–	50,360	–	0.17%	–
PYPL	New	PAYPAL HOLDINGS INC	$1,166,000	–	4,000	–	0.15%	–
KMT	New	KENNNEMETAL INC	$1,078,000	–	30,000	–	0.14%	–
GLW	New	CORNING INC	$1,023,000	–	25,000	–	0.13%	–
HBAN	New	HUNTINGTON BANCSHARES INC	$999,000	–	70,000	–	0.13%	–
XLF	New	SELECT SECTOR SPDR TRcall	$917,000	–	25,000	–	0.12%	–
IACB	New	ION ACQUISTION CORP 2 LTD CLASS A	$905,000	–	91,509	–	0.11%	–
UNP	New	UNION PACIFIC CORP	$880,000	–	4,000	–	0.11%	–
DD	New	DUPONT DE NEMOURS INC	$774,000	–	10,000	–	0.10%	–
TPIC	New	TPI COMPOSITES INC	$726,000	–	15,000	–	0.09%	–
SNAP	New	SNAP INCcl a	$715,000	–	10,500	–	0.09%	–
PSTHWS	New	PERSHING SQUARE WTS*w exp 07/24/202	$630,000	–	100,000	–	0.08%	–
CHTR	New	CHARTER COMMUNICATN CLASS Acl a	$577,000	–	800	–	0.07%	–
INTC	New	INTEL CORP	$561,000	–	10,000	–	0.07%	–
TBLAW	New	TABOOLA.COM WRNTw exp 06/29/202	$310,000	–	100,000	–	0.04%	–
ACICWS	New	ATLASCREST INVESTMENT COR-A WTS*w exp 01/30/202	$193,000	–	125,000	–	0.02%	–
IACBWS	New	WTS ION ACQUISITION CORP 2 LTD WRNTSw exp 02/17/202	$45,000	–	25,217	–	0.01%	–
SLACWS	New	WTS SOCIAL LEVERAGE ACQ CORP 1*w exp 02/17/202	$27,000	–	25,000	–	0.00%	–

Q4 2020

			Value		Shares		↓ Weighting
AAPL	Exit	APPLE COMPUTER INC	$0	–	-4,000	–	-0.05%	–
DD	Exit	DUPONT DE NEMOURS INC	$0	–	-10,000	–	-0.06%	–
VXX	Exit	BARCLAYS BANK PLCcall	$0	–	-25,000	–	-0.07%	–
CRM	Exit	SALESFORCE.COM	$0	–	-2,500	–	-0.07%	–
SBUX	Exit	STARBUCKS	$0	–	-7,500	–	-0.07%	–
PSTHWS	Exit	PERSHING SQUARE WTSw exp 07/24/202	$0	–	-100,000	–	-0.08%	–
CSCO	Exit	CISCO SYSTEMS INC	$0	–	-20,000	–	-0.09%	–
NKE	Exit	NIKE INC.cl b	$0	–	-6,500	–	-0.09%	–
ABT	Exit	ABBOTT LABORATORIES	$0	–	-8,000	–	-0.10%	–
NTB	Exit	BANK OF N.T. BUTTERFIELD	$0	–	-50,000	–	-0.12%	–
WFC	Exit	WELLS FARGO AND CO.	$0	–	-50,734	–	-0.13%	–
TBBK	Exit	BANCORP INC DEL	$0	–	-141,027	–	-0.13%	–
MKSI	Exit	MKS INSTRUMENTS	$0	–	-12,286	–	-0.15%	–
C	Exit	CITIGROUP INC	$0	–	-40,000	–	-0.19%	–
THS	Exit	TREEHOUSE FOODS	$0	–	-50,000	–	-0.22%	–
BK	Exit	BANK OF NEW YORK CO	$0	–	-60,000	–	-0.23%	–
FISV	Exit	FISERV INC	$0	–	-20,000	–	-0.23%	–
WMT	Exit	WALMART INCcall	$0	–	-15,000	–	-0.23%	–
IAU	Exit	ISHARES GOLDishares	$0	–	-140,000	–	-0.28%	–
SI	Exit	SILVERGATE CAPITALcl a	$0	–	-200,000	–	-0.32%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-30,000	–	-0.32%	–
CVS	Exit	CVS CORP	$0	–	-50,000	–	-0.32%	–
DCOM	Exit	DIME COMMUNITY BANCSHARES	$0	–	-270,000	–	-0.34%	–
MSFT	Exit	MICROSOFT CORPput	$0	–	-15,000	–	-0.35%	–
INTC	Exit	INTEL CORP	$0	–	-65,000	–	-0.37%	–
UBER	Exit	UBER TECHNOLOGIES INCcall	$0	–	-100,000	–	-0.40%	–
GLD	Exit	STREET TRACKS GOLD TRUST	$0	–	-22,500	–	-0.44%	–
AMZN	Exit	AMAZON.COM	$0	–	-1,600	–	-0.55%	–
DBX	Exit	DROPBOX INCcl a	$0	–	-300,000	–	-0.63%	–
BDGE	Exit	BRIDGE BANCORP INC	$0	–	-378,805	–	-0.72%	–
JBGS	Exit	JBG SMITH PROPERTIES	$0	–	-250,713	–	-0.74%	–
TWTR	Exit	TWITTER	$0	–	-180,000	–	-0.88%	–
PACK	Exit	RANPAK HOLDINGS CORP	$0	–	-897,847	–	-0.94%	–
APG	Exit	API GROUP CORP.	$0	–	-601,792	–	-0.94%	–
FNF	Exit	FIDELITY NATIONAL FINANCIALcall	$0	–	-300,000	–	-1.03%	–
LBRDK	Exit	LIBERTY BROADBAND CORP	$0	–	-67,048	–	-1.05%	–
ERIC	Exit	ERICSSONadr b sek 10	$0	–	-930,200	–	-1.11%	–
TMUS	Exit	T-MOBILE US INCcall	$0	–	-100,000	–	-1.25%	–
IAC	Exit	IAC INTERACTIVECORPcall	$0	–	-100,000	–	-1.31%	–
JPM	Exit	JPMORGAN CHASE & COcall	$0	–	-150,000	–	-1.58%	–
BKNG	Exit	BOOKING HOLDINGS	$0	–	-9,000	–	-1.69%	–
ULTA	Exit	ULTA SALON COSMETICS &	$0	–	-70,300	–	-1.73%	–
PSTH	Exit	PERSHING SQUARE TONTINE HLDGS UNITS	$0	–	-900,000	–	-2.24%	–
CMCSA	Exit	COMCAST CORP. CL Acl a	$0	–	-452,900	–	-2.30%	–
MLM	Exit	MARTIN MARIETTA MATERIALS	$0	–	-98,933	–	-2.55%	–
UBER	Exit	UBER TECHNOLOGIES INC	$0	–	-675,000	–	-2.70%	–
CHTR	Exit	CHARTER COMMUNICATN CLASS Acl a	$0	–	-40,000	–	-2.74%	–
TMUS	Exit	T-MOBILE US INC	$0	–	-220,304	–	-2.76%	–
ANGI	Exit	ANGI HOME SERVICES	$0	–	-2,565,693	–	-3.12%	–
FNF	Exit	FIDELITY NATIONAL FINANCIAL	$0	–	-1,028,912	–	-3.53%	–
HDS	Exit	HD SUPPLY	$0	–	-1,096,535	–	-4.96%	–
IAC	Exit	IAC INTERACTIVECORP	$0	–	-436,749	–	-5.74%	–
IWM	Exit	ISHARES TRput	$0	–	-350,000	–	-5.75%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-254,200	–	-5.86%	–
SPY	Exit	SPDR S&P 500 ETF TRput	$0	–	-930,000	–	-34.16%	–

Q3 2020

			Value		Shares		↓ Weighting
SPY	Buy	SPDR S&P 500 ETF TRput	$311,448,000	+62.9%	930,000	+50.0%	34.16%	+25.2%
IWM	New	ISHARES TRput	$52,427,000	–	350,000	–	5.75%	–
IAC	New	IAC INTERACTIVECORP	$52,314,000	–	436,749	–	5.74%	–
HDS	Sell	HD SUPPLY	$45,221,000	+18.5%	1,096,535	-0.5%	4.96%	-9.0%
FNF	Buy	FIDELITY NATIONAL FINANCIAL	$32,215,000	+14.3%	1,028,912	+12.0%	3.53%	-12.2%
TMUS	Buy	T-MOBILE US INC	$25,194,000	+141.9%	220,304	+120.3%	2.76%	+85.8%
UBER	Buy	UBER TECHNOLOGIES INC	$24,624,000	+35.4%	675,000	+15.4%	2.70%	+4.0%
MLM	Buy	MARTIN MARIETTA MATERIALS	$23,285,000	+20.0%	98,933	+5.3%	2.55%	-7.8%
CMCSA	Sell	COMCAST CORP. CL Acl a	$20,951,000	+1.3%	452,900	-14.6%	2.30%	-22.2%
PSTH	New	PERSHING SQUARE TONTINE HLDGS UNITS	$20,421,000	–	900,000	–	2.24%	–
ULTA	New	ULTA SALON COSMETICS &	$15,746,000	–	70,300	–	1.73%	–
BKNG	Buy	BOOKING HOLDINGS	$15,396,000	+13.7%	9,000	+5.9%	1.69%	-12.6%
JPM	New	JPMORGAN CHASE & COcall	$14,441,000	–	150,000	–	1.58%	–
IAC	New	IAC INTERACTIVECORPcall	$11,978,000	–	100,000	–	1.31%	–
TMUS	New	T-MOBILE US INCcall	$11,436,000	–	100,000	–	1.25%	–
ERIC	Sell	ERICSSONadr b sek 10	$10,130,000	+5.7%	930,200	-9.7%	1.11%	-18.8%
FNF	Buy	FIDELITY NATIONAL FINANCIALcall	$9,393,000	+53.2%	300,000	+50.0%	1.03%	+17.7%
APG	Sell	API GROUP CORP.	$8,564,000	-34.4%	601,792	-44.0%	0.94%	-49.7%
PACK	Sell	RANPAK HOLDINGS CORP	$8,548,000	-25.3%	897,847	-41.6%	0.94%	-42.6%
TWTR	Sell	TWITTER	$8,010,000	+30.5%	180,000	-12.6%	0.88%	+0.3%
JBGS	Sell	JBG SMITH PROPERTIES	$6,704,000	-59.0%	250,713	-54.7%	0.74%	-68.5%
DBX	New	DROPBOX INCcl a	$5,778,000	–	300,000	–	0.63%	–
AMZN	Buy	AMAZON.COM	$5,038,000	+66.0%	1,600	+45.5%	0.55%	+27.7%
GLD	New	STREET TRACKS GOLD TRUST	$3,985,000	–	22,500	–	0.44%	–
UBER	New	UBER TECHNOLOGIES INCcall	$3,648,000	–	100,000	–	0.40%	–
INTC	New	INTEL CORP	$3,366,000	–	65,000	–	0.37%	–
MSFT	Sell	MICROSOFT CORPput	$3,155,000	-42.6%	15,000	-44.4%	0.35%	-55.9%
DCOM	New	DIME COMMUNITY BANCSHARES	$3,054,000	–	270,000	–	0.34%	–
CVS	Buy	CVS CORP	$2,920,000	-0.1%	50,000	+11.1%	0.32%	-23.3%
JPM	Sell	JPMORGAN CHASE & CO	$2,888,000	-12.3%	30,000	-14.3%	0.32%	-32.6%
IAU	New	ISHARES GOLDishares	$2,519,000	–	140,000	–	0.28%	–
WMT	New	WALMART INCcall	$2,099,000	–	15,000	–	0.23%	–
FISV	New	FISERV INC	$2,061,000	–	20,000	–	0.23%	–
BK	Buy	BANK OF NEW YORK CO	$2,060,000	+6.6%	60,000	+20.0%	0.23%	-18.1%
THS	Buy	TREEHOUSE FOODS	$2,027,000	+15.7%	50,000	+25.0%	0.22%	-11.2%
C	Sell	CITIGROUP INC	$1,724,000	-75.0%	40,000	-70.3%	0.19%	-80.8%
MKSI	New	MKS INSTRUMENTS	$1,342,000	–	12,286	–	0.15%	–
TBBK	New	BANCORP INC DEL	$1,218,000	–	141,027	–	0.13%	–
WFC	Sell	WELLS FARGO AND CO.	$1,193,000	-38.5%	50,734	-33.0%	0.13%	-52.7%
NTB	Buy	BANK OF N.T. BUTTERFIELD	$1,114,000	+14.1%	50,000	+25.0%	0.12%	-12.2%
ABT	New	ABBOTT LABORATORIES	$871,000	–	8,000	–	0.10%	–
NKE	New	NIKE INC.cl b	$816,000	–	6,500	–	0.09%	–
CSCO	New	CISCO SYSTEMS INC	$788,000	–	20,000	–	0.09%	–
PSTHWS	New	PERSHING SQUARE WTSw exp 07/24/202	$717,000	–	100,000	–	0.08%	–
SBUX	New	STARBUCKS	$644,000	–	7,500	–	0.07%	–
CRM	New	SALESFORCE.COM	$628,000	–	2,500	–	0.07%	–
VXX	New	BARCLAYS BANK PLCcall	$623,000	–	25,000	–	0.07%	–
DD	New	DUPONT DE NEMOURS INC	$555,000	–	10,000	–	0.06%	–
AAPL	Buy	APPLE COMPUTER INC	$463,000	-49.2%	4,000	+60.0%	0.05%	-60.8%
TMUSR	Exit	T-MOBILE US INC - RIGHTSright 07/27/2020	$0	–	-60,000	–	-0.00%	–
GRUB	Exit	GRUBHUB INC	$0	–	-599	–	-0.01%	–
MU	Exit	MICRON TECHNOLOGY	$0	–	-6,000	–	-0.04%	–
CRWD	Exit	CROWDSTRIKE HLDGS INCcl a	$0	–	-3,500	–	-0.05%	–
BBY	Exit	BEST BUY INC	$0	–	-5,000	–	-0.06%	–
LRCX	Exit	LAM RESEARCH	$0	–	-5,000	–	-0.23%	–
FB	Exit	FACEBOOK INCcall	$0	–	-10,000	–	-0.32%	–
AAPL	Exit	APPLE INCcall	$0	–	-7,500	–	-0.39%	–
HDS	Exit	HD SUPPLY HLDGS INCcall	$0	–	-100,000	–	-0.50%	–
GDOT	Exit	GREEN DOT CL Acl a	$0	–	-75,000	–	-0.53%	–
IAC	Exit	IAC INTERACTIVECORP	$0	–	-404,622	–	-18.68%	–

Q2 2020

			Value		Shares		↓ Weighting
SPY	New	SPDR S&P 500 ETF TRput	$191,183,000	–	620,000	–	27.29%	–
IAC	New	IAC INTERACTIVECORP	$130,855,000	–	404,622	–	18.68%	–
MSFT	New	MICROSOFT CORP	$51,732,000	–	254,200	–	7.38%	–
HDS	New	HD SUPPLY HLDGS INC	$38,168,000	–	1,101,535	–	5.45%	–
ANGI	New	ANGI HOME SERVICES	$31,173,000	–	2,565,693	–	4.45%	–
FNF	New	FIDELITY NATIONAL FINANCIAL	$28,174,000	–	918,912	–	4.02%	–
CMCSA	New	COMCAST CORP. CL Acl a	$20,683,000	–	530,600	–	2.95%	–
CHTR	New	CHARTER COMMUNICATN CLASS Acl a	$20,402,000	–	40,000	–	2.91%	–
MLM	New	MARTIN MARIETTA MATERIALS	$19,404,000	–	93,933	–	2.77%	–
UBER	New	UBER TECHNOLOGIES INC	$18,182,000	–	585,000	–	2.60%	–
JBGS	New	JBG SMITH PROPERTIES	$16,365,000	–	553,431	–	2.34%	–
BKNG	New	BOOKING HOLDINGS	$13,535,000	–	8,500	–	1.93%	–
APG	New	API GROUP CORP.	$13,064,000	–	1,075,214	–	1.86%	–
PACK	New	RANPAK HOLDINGS CORP	$11,447,000	–	1,538,572	–	1.63%	–
TMUS	New	T-MOBILE US INC	$10,415,000	–	100,000	–	1.49%	–
ERIC	New	ERICSSONadr b sek 10	$9,581,000	–	1,030,200	–	1.37%	–
BDGE	New	BRIDGE BANCORP INC	$8,652,000	–	378,805	–	1.24%	–
LBRDK	New	LIBERTY BROADBAND CORP	$8,311,000	–	67,048	–	1.19%	–
C	New	CITIGROUP INC	$6,893,000	–	134,900	–	0.98%	–
TWTR	New	TWITTER INC	$6,137,000	–	206,000	–	0.88%	–
FNF	New	FIDELITY NATIONAL FINANCIALcall	$6,132,000	–	200,000	–	0.88%	–
MSFT	New	MICROSOFT CORPput	$5,495,000	–	27,000	–	0.78%	–
GDOT	New	GREEN DOT CL Acl a	$3,681,000	–	75,000	–	0.53%	–
HDS	New	HD SUPPLY HLDGS INCcall	$3,465,000	–	100,000	–	0.50%	–
JPM	New	JPMORGAN CHASE & CO	$3,292,000	–	35,000	–	0.47%	–
AMZN	New	AMAZON COM INC	$3,035,000	–	1,100	–	0.43%	–
CVS	New	CVS HEALTH CORP	$2,924,000	–	45,000	–	0.42%	–
SI	New	SILVERGATE CAPITALcl a	$2,800,000	–	200,000	–	0.40%	–
AAPL	New	APPLE INCcall	$2,736,000	–	7,500	–	0.39%	–
FB	New	FACEBOOK INCcall	$2,271,000	–	10,000	–	0.32%	–
WFC	New	WELLS FARGO AND CO.	$1,939,000	–	75,734	–	0.28%	–
BK	New	BANK NEW YORK MELLON CORP	$1,933,000	–	50,000	–	0.28%	–
THS	New	TREEHOUSE FOODS	$1,752,000	–	40,000	–	0.25%	–
LRCX	New	LAM RESEARCH	$1,617,000	–	5,000	–	0.23%	–
NTB	New	BANK OF N.T. BUTTERFIELD	$976,000	–	40,000	–	0.14%	–
AAPL	New	APPLE INC	$912,000	–	2,500	–	0.13%	–
BBY	New	BEST BUY INC	$436,000	–	5,000	–	0.06%	–
CRWD	New	CROWDSTRIKE HLDGS INCcl a	$351,000	–	3,500	–	0.05%	–
MU	New	MICRON TECHNOLOGY	$309,000	–	6,000	–	0.04%	–
GRUB	New	GRUBHUB INC	$42,000	–	599	–	0.01%	–
TMUSR	New	T-MOBILE US INC - RIGHTSright 07/27/2020	$10,000	–	60,000	–	0.00%	–

Q4 2019

			Value		Shares		↓ Weighting
AMAT	Exit	APPLIED MATERIALS INC	$0	–	-5,000	–	-0.02%	–
GE	Exit	GENERAL ELECTRIC COcall	$0	–	-50,000	–	-0.04%	–
TWTR	Exit	TWITTER INC	$0	–	-11,542	–	-0.04%	–
KMT	Exit	KENNNEMETAL INC	$0	–	-30,000	–	-0.09%	–
NOK	Exit	NOKIA CORP.sponsored adr	$0	–	-200,000	–	-0.09%	–
AAPL	Exit	APPLE COMPUTER INC	$0	–	-4,500	–	-0.09%	–
FGWS	Exit	WTS FGL HOLDING 7/8/21*w exp 11/30/2021	$0	–	-1,283,816	–	-0.11%	–
GDOT	Exit	GREEN DOT CL Acl a	$0	–	-50,883	–	-0.12%	–
YELP	Exit	YELP INCcl a	$0	–	-55,239	–	-0.18%	–
SBNY	Exit	SIGNATURE BANK	$0	–	-17,000	–	-0.19%	–
VNE	Exit	VEONEER INC	$0	–	-143,171	–	-0.20%	–
GLW	Exit	CORNING INC	$0	–	-75,000	–	-0.20%	–
NTB	Exit	BANK OF N.T. BUTTERFIELD	$0	–	-75,000	–	-0.21%	–
BPFH	Exit	BOSTON PRIVATE FINCL	$0	–	-200,000	–	-0.22%	–
CVS	Exit	CVS CORP	$0	–	-40,000	–	-0.23%	–
GRPN	Exit	GROUPON INCcall	$0	–	-1,000,000	–	-0.25%	–
MSFT	Exit	MICROSOFT CORPput	$0	–	-20,000	–	-0.26%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-42,000	–	-0.46%	–
CHTR	Exit	CHARTER COMMUNICATN CLASS Acl a	$0	–	-12,500	–	-0.48%	–
YELP	Exit	YELP INCcall	$0	–	-150,000	–	-0.48%	–
PACK	Exit	RANPAK HOLDINGS CORP	$0	–	-1,059,134	–	-0.60%	–
LEN	Exit	LENNAR CORP.cl a	$0	–	-115,819	–	-0.60%	–
LBRDK	Exit	LIBERTY BROADBAND CORP	$0	–	-67,048	–	-0.65%	–
BX	Exit	BLACKSTONE GROUP	$0	–	-150,000	–	-0.68%	–
ERIC	Exit	ERICSSONadr b sek 10	$0	–	-980,200	–	-0.73%	–
MAC	Exit	MACERICH REIT	$0	–	-263,042	–	-0.77%	–
CMCSA	Exit	COMCAST CORP. CL Acall	$0	–	-200,000	–	-0.84%	–
FB	Exit	FACEBOOK INC CL Acl a	$0	–	-55,000	–	-0.91%	–
TLND	Exit	TALEND S Aads	$0	–	-301,150	–	-0.95%	–
ANGI	Exit	ANGI HOME SERVICES INC	$0	–	-1,471,515	–	-0.97%	–
BDGE	Exit	BRIDGE BANCORP INC	$0	–	-378,805	–	-1.04%	–
MAC	Exit	MACERICH REITcall	$0	–	-425,000	–	-1.25%	–
FG	Exit	FGL HOLDINGS	$0	–	-2,522,561	–	-1.87%	–
GRPN	Exit	GROUPON INC	$0	–	-7,833,095	–	-1.94%	–
BKNG	Exit	BOOKING HOLDINGS INC	$0	–	-11,300	–	-2.06%	–
DIS	Exit	DISNEY (WALT) CORP	$0	–	-195,000	–	-2.36%	–
HDS	Exit	HD SUPPLY INCcall	$0	–	-668,500	–	-2.43%	–
ZAYO	Exit	ZAYO GROUP	$0	–	-792,185	–	-2.50%	–
C	Exit	CITIGROUP INC	$0	–	-399,900	–	-2.57%	–
JBGS	Exit	JBG SMITH PROPERTIES	$0	–	-771,618	–	-2.81%	–
CMCSA	Exit	COMCAST CORP. CL Acl a	$0	–	-713,100	–	-2.99%	–
C	Exit	CITIGROUP INCcall	$0	–	-508,800	–	-3.26%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-254,200	–	-3.28%	–
IAC	Exit	IAC INTERACTIVECORP	$0	–	-209,622	–	-4.24%	–
DIS	Exit	DISNEY (WALT) CORPcall	$0	–	-351,700	–	-4.26%	–
HDS	Exit	HD SUPPLY INC	$0	–	-1,210,498	–	-4.41%	–
IWM	Exit	ISHARES TRput	$0	–	-500,000	–	-7.03%	–
SPY	Exit	SPDR S&P 500 ETF TRput	$0	–	-1,380,000	–	-38.05%	–

Q3 2019

			Value		Shares		↓ Weighting
SPY	Sell	SPDR S&P 500 ETF TRput	$409,543,000	-4.3%	1,380,000	-5.5%	38.05%	-0.4%
IWM	Sell	ISHARES TRput	$75,670,000	-42.8%	500,000	-41.2%	7.03%	-40.4%
HDS	Buy	HD SUPPLY INC	$47,421,000	+40.7%	1,210,498	+44.7%	4.41%	+46.5%
DIS	New	DISNEY (WALT) CORPcall	$45,834,000	–	351,700	–	4.26%	–
IAC	Buy	IAC INTERACTIVECORP	$45,691,000	+62.7%	209,622	+62.3%	4.24%	+69.3%
C	Sell	CITIGROUP INCcall	$35,148,000	-6.0%	508,800	-4.7%	3.26%	-2.2%
CMCSA	Sell	COMCAST CORP. CL Acl a	$32,147,000	+0.3%	713,100	-5.9%	2.99%	+4.4%
JBGS	Buy	JBG SMITH PROPERTIES	$30,255,000	+0.5%	771,618	+0.9%	2.81%	+4.7%
HDS	Buy	HD SUPPLY INCcall	$26,188,000	+3492.3%	668,500	+3593.4%	2.43%	+3643.1%
DIS	Sell	DISNEY (WALT) CORP	$25,412,000	-11.2%	195,000	-4.9%	2.36%	-7.6%
GRPN	Buy	GROUPON INC	$20,836,000	-11.1%	7,833,095	+19.6%	1.94%	-7.5%
MAC	Buy	MACERICH REITcall	$13,426,000	+33.6%	425,000	+41.7%	1.25%	+39.0%
ANGI	New	ANGI HOME SERVICES INC	$10,426,000	–	1,471,515	–	0.97%	–
TLND	Buy	TALEND S Aads	$10,233,000	+193.9%	301,150	+233.8%	0.95%	+205.8%
FB	Buy	FACEBOOK INC CL Acl a	$9,794,000	+103.0%	55,000	+120.0%	0.91%	+111.1%
ERIC	Sell	ERICSSONadr b sek 10	$7,832,000	-23.7%	980,200	-9.3%	0.73%	-20.5%
BX	New	BLACKSTONE GROUP	$7,326,000	–	150,000	–	0.68%	–
LEN	Sell	LENNAR CORP.cl a	$6,468,000	-39.0%	115,819	-47.1%	0.60%	-36.5%
PACK	Buy	RANPAK HOLDINGS CORP	$6,418,000	-22.3%	1,059,134	+13.5%	0.60%	-19.1%
YELP	New	YELP INCcall	$5,213,000	–	150,000	–	0.48%	–
CHTR	New	CHARTER COMMUNICATN CLASS Acl a	$5,152,000	–	12,500	–	0.48%	–
JPM	Buy	JPMORGAN CHASE & CO	$4,943,000	+26.3%	42,000	+20.0%	0.46%	+31.5%
MSFT	Buy	MICROSOFT CORPput	$2,781,000	+38.4%	20,000	+33.3%	0.26%	+44.1%
BPFH	Buy	BOSTON PRIVATE FINCL	$2,331,000	+10.4%	200,000	+14.3%	0.22%	+14.8%
NTB	New	BANK OF N.T. BUTTERFIELD	$2,223,000	–	75,000	–	0.21%	–
VNE	Sell	VEONEER INC	$2,146,000	-64.1%	143,171	-58.5%	0.20%	-62.7%
GLW	New	CORNING INC	$2,139,000	–	75,000	–	0.20%	–
SBNY	Buy	SIGNATURE BANK	$2,027,000	+67.8%	17,000	+70.0%	0.19%	+74.1%
YELP	New	YELP INCcl a	$1,920,000	–	55,239	–	0.18%	–
GDOT	New	GREEN DOT CL Acl a	$1,285,000	–	50,883	–	0.12%	–
AAPL	New	APPLE COMPUTER INC	$1,008,000	–	4,500	–	0.09%	–
KMT	Sell	KENNNEMETAL INC	$922,000	-50.2%	30,000	-40.0%	0.09%	-47.9%
TWTR	New	TWITTER INC	$476,000	–	11,542	–	0.04%	–
AMAT	New	APPLIED MATERIALS INC	$250,000	–	5,000	–	0.02%	–
ADBE	Exit	ADOBE INC	$0	–	-3,000	–	-0.08%	–
S	Exit	SPRINT CORPORATIONcall	$0	–	-153,800	–	-0.09%	–
DOW	Exit	DOW INC	$0	–	-30,000	–	-0.13%	–
AMZN	Exit	AMAZON COM INCcall	$0	–	-2,200	–	-0.37%	–
ORCL	Exit	ORACLE CORPput	$0	–	-100,000	–	-0.51%	–
FB	Exit	FACEBOOK INC CL Acall	$0	–	-30,000	–	-0.52%	–
TMUS	Exit	T MOBILE US INCcall	$0	–	-79,500	–	-0.53%	–
BX	Exit	BLACKSTONE GROUP LP	$0	–	-150,000	–	-0.60%	–
S	Exit	SPRINT CORPORATION	$0	–	-1,150,000	–	-0.67%	–
QRTEA	Exit	QURATE RETAIL INC	$0	–	-672,719	–	-0.74%	–
GOOGL	Exit	ALPHABET INC CLASS A COMMON STcap stk cl a	$0	–	-8,055	–	-0.78%	–
AAPL	Exit	APPLE INCput	$0	–	-50,000	–	-0.88%	–
LEN	Exit	LENNAR CORP.call	$0	–	-300,000	–	-1.30%	–
SFLY	Exit	SHUTTERFLY INC	$0	–	-514,524	–	-2.32%	–

Q2 2019

			Value		Shares		↓ Weighting
SPY	New	SPDR S&P 500 ETF TRput	$427,780,000	–	1,460,000	–	38.18%	–
IWM	New	ISHARES TRput	$132,175,000	–	850,000	–	11.80%	–
C	New	CITIGROUP INCcall	$37,382,000	–	533,800	–	3.34%	–
MSFT	New	MICROSOFT CORP	$34,053,000	–	254,200	–	3.04%	–
HDS	New	HD SUPPLY HLDGS INC	$33,702,000	–	836,689	–	3.01%	–
CMCSA	New	COMCAST CORP. CL Acl a	$32,052,000	–	758,100	–	2.86%	–
JBGS	New	JBG SMITH PROPERTIES	$30,095,000	–	765,009	–	2.69%	–
DIS	New	DISNEY (WALT) CORP	$28,626,000	–	205,000	–	2.56%	–
IAC	New	IAC INTERACTIVECORP	$28,088,000	–	129,122	–	2.51%	–
C	New	CITIGROUP INC	$28,005,000	–	399,900	–	2.50%	–
ZAYO	New	ZAYO GROUP HLDGS INC	$26,071,000	–	792,185	–	2.33%	–
SFLY	New	SHUTTERFLY INC	$26,009,000	–	514,524	–	2.32%	–
GRPN	New	GROUPON INC	$23,444,000	–	6,548,500	–	2.09%	–
BKNG	New	BOOKING HOLDINGS INC	$21,184,000	–	11,300	–	1.89%	–
FG	New	FGL HOLDINGS	$21,190,000	–	2,522,561	–	1.89%	–
LEN	New	LENNAR CORP.call	$14,538,000	–	300,000	–	1.30%	–
BDGE	New	BRIDGE BANCORP INC	$11,160,000	–	378,805	–	1.00%	–
LEN	New	LENNAR CORP.cl a	$10,604,000	–	218,819	–	0.95%	–
ERIC	New	ERICSSONadr b sek 10	$10,262,000	–	1,080,200	–	0.92%	–
MAC	New	MACERICH COcall	$10,047,000	–	300,000	–	0.90%	–
AAPL	New	APPLE INCput	$9,896,000	–	50,000	–	0.88%	–
MAC	New	MACERICH CO	$8,809,000	–	263,042	–	0.79%	–
GOOGL	New	ALPHABET INC CLASS A COMMON STcap stk cl a	$8,722,000	–	8,055	–	0.78%	–
CMCSA	New	COMCAST CORP. CL Acall	$8,456,000	–	200,000	–	0.76%	–
QRTEA	New	QURATE RETAIL INC	$8,335,000	–	672,719	–	0.74%	–
PACK	New	RANPAK HOLDINGS CORP	$8,258,000	–	933,080	–	0.74%	–
S	New	SPRINT CORPORATION	$7,556,000	–	1,150,000	–	0.67%	–
LBRDK	New	LIBERTY BROADBAND CORP	$6,988,000	–	67,048	–	0.62%	–
BX	New	BLACKSTONE GROUP LP	$6,663,000	–	150,000	–	0.60%	–
VNE	New	VEONEER INC	$5,979,000	–	345,400	–	0.53%	–
TMUS	New	T MOBILE US INCcall	$5,894,000	–	79,500	–	0.53%	–
FB	New	FACEBOOK INC CL Acall	$5,790,000	–	30,000	–	0.52%	–
ORCL	New	ORACLE CORPput	$5,697,000	–	100,000	–	0.51%	–
FB	New	FACEBOOK INC CL Acl a	$4,825,000	–	25,000	–	0.43%	–
AMZN	New	AMAZON COM INCcall	$4,166,000	–	2,200	–	0.37%	–
JPM	New	JPMORGAN CHASE & CO	$3,913,000	–	35,000	–	0.35%	–
GRPN	New	GROUPON INCcall	$3,580,000	–	1,000,000	–	0.32%	–
TLND	New	TALEND S Aads	$3,482,000	–	90,221	–	0.31%	–
CVS	New	CVS HEALTH CORP	$2,180,000	–	40,000	–	0.20%	–
BPFH	New	BOSTON PRIVATE FINCL HLGS INC	$2,112,000	–	175,000	–	0.19%	–
MSFT	New	MICROSOFT CORPput	$2,009,000	–	15,000	–	0.18%	–
FGWS	New	WTS FGL HOLDING 7/8/21*w exp 11/30/2021	$1,861,000	–	1,283,816	–	0.17%	–
KMT	New	KENNNEMETAL INC	$1,850,000	–	50,000	–	0.16%	–
DOW	New	DOW INC	$1,479,000	–	30,000	–	0.13%	–
SBNY	New	SIGNATURE BK NEW YORK N Y	$1,208,000	–	10,000	–	0.11%	–
S	New	SPRINT CORPORATIONcall	$1,010,000	–	153,800	–	0.09%	–
NOK	New	NOKIA CORP.sponsored adr	$1,002,000	–	200,000	–	0.09%	–
ADBE	New	ADOBE INC	$884,000	–	3,000	–	0.08%	–
HDS	New	HD SUPPLY HLDGS INCcall	$729,000	–	18,100	–	0.06%	–
GE	New	GENERAL ELECTRIC COcall	$525,000	–	50,000	–	0.05%	–

Q4 2018

			Value		Shares		↓ Weighting
YELP	Exit	YELPcl a	$0	–	-7,500	–	-0.03%	–
LBC	Exit	LUTHER BURBANK	$0	–	-102,054	–	-0.09%	–
AAPL	Exit	APPLE COMPUTER INC	$0	–	-5,000	–	-0.09%	–
ADBE	Exit	ADOBE SYSTEMS	$0	–	-5,000	–	-0.11%	–
HON	Exit	HONEYWELL INTL INC	$0	–	-8,500	–	-0.11%	–
TBK	Exit	TRIUMPH BANCORP	$0	–	-40,000	–	-0.12%	–
CZR	Exit	CAESARS ENTMT CORPcall	$0	–	-150,000	–	-0.12%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-15,000	–	-0.13%	–
TKR	Exit	TIMKEN	$0	–	-35,000	–	-0.14%	–
OPB	Exit	OPUS BANK	$0	–	-70,000	–	-0.15%	–
DWDP	Exit	DOW DUPONTcall	$0	–	-30,000	–	-0.15%	–
KEY	Exit	KEYCORP	$0	–	-100,000	–	-0.16%	–
DWDP	Exit	DOW DUPONT	$0	–	-40,000	–	-0.20%	–
BANC	Exit	BANK OF CALIFORNIA	$0	–	-140,000	–	-0.21%	–
DCOM	Exit	DIME COMMUNITY BANCSHARES	$0	–	-160,000	–	-0.22%	–
MSL	Exit	MIDSOUTH BANCORP INC	$0	–	-200,000	–	-0.24%	–
SBAC	Exit	SBA COMMUNICATIONS CORPcl a	$0	–	-20,000	–	-0.25%	–
STT	Exit	STATE STREET CORP.	$0	–	-40,000	–	-0.26%	–
SBNY	Exit	SIGNATURE BANK	$0	–	-30,000	–	-0.27%	–
VNE	Exit	VEONEER INC	$0	–	-94,100	–	-0.41%	–
BUD	Exit	ANHEUSER BUSCH CO.sponsored adr	$0	–	-60,165	–	-0.41%	–
DFS	Exit	DISCOVER FINANCIAL SERVICES	$0	–	-80,000	–	-0.48%	–
JBGS	Exit	JBG SMITH PROPERTIES	$0	–	-175,000	–	-0.51%	–
JBGS	Exit	JBG SMITH PROPERTIEScall	$0	–	-201,400	–	-0.58%	–
TSLA	Exit	TESLA INCput	$0	–	-30,000	–	-0.62%	–
QRTEA	Exit	QURATE RETAIL GROUP INCcall	$0	–	-405,600	–	-0.71%	–
ALV	Exit	AUTOLIV INC.	$0	–	-113,000	–	-0.77%	–
TMUS	Exit	T-MOBILE US INC	$0	–	-165,000	–	-0.91%	–
ERIC	Exit	ERICSSONadr b sek 10	$0	–	-1,400,000	–	-0.97%	–
BDGE	Exit	BRIDGE BANCORP INC	$0	–	-378,805	–	-0.99%	–
AVHI	Exit	AV HOMES INC	$0	–	-643,298	–	-1.01%	–
C	Exit	CITIGROUP INCcall	$0	–	-247,500	–	-1.39%	–
EBAY	Exit	EBAY INC	$0	–	-592,500	–	-1.54%	–
SFLY	Exit	SHUTTERFLY INC	$0	–	-298,658	–	-1.54%	–
LEN	Exit	LENNAR CORP.cl a	$0	–	-440,819	–	-1.62%	–
GRPN	Exit	GROUPON	$0	–	-5,739,200	–	-1.70%	–
IAC	Exit	IAC INTERACTIVECORPcall	$0	–	-100,000	–	-1.70%	–
FGWS	Exit	WTS FGL HOLDING 7/8/21*w exp 11/30/2021	$0	–	-4,043,047	–	-1.85%	–
QRTEA	Exit	QURATE RETAIL GROUP INC	$0	–	-1,095,786	–	-1.91%	–
CZR	Exit	CAESARS ENTMT CORP	$0	–	-2,383,047	–	-1.92%	–
DIS	Exit	DISNEY (WALT) CO	$0	–	-234,500	–	-2.15%	–
IAC	Exit	IAC INTERACTIVECORP	$0	–	-127,122	–	-2.16%	–
HDS	Exit	HD SUPPLY	$0	–	-658,962	–	-2.21%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-254,000	–	-2.28%	–
CMCSA	Exit	COMCAST CORP. CL Acall	$0	–	-825,000	–	-2.29%	–
C	Exit	CITIGROUP INC	$0	–	-429,900	–	-2.42%	–
CMCSA	Exit	COMCAST CORP. CL Acl a	$0	–	-884,600	–	-2.46%	–
MAC	Exit	MACERICH REITcall	$0	–	-567,100	–	-2.46%	–
MAC	Exit	MACERICH REIT	$0	–	-588,042	–	-2.55%	–
SPY	Exit	SPDR S&P 500 ETF TRput	$0	–	-2,300,000	–	-52.45%	–

Q3 2018

			Value		Shares		↓ Weighting
SPY	Buy	SPDR S&P 500 ETF TRput	$668,656,000	+17.0%	2,300,000	+9.1%	52.45%	+5.1%
MAC	Buy	MACERICH REIT	$32,513,000	+17.2%	588,042	+20.5%	2.55%	+5.4%
MAC	Buy	MACERICH REITcall	$31,355,000	+267.8%	567,100	+278.1%	2.46%	+230.6%
CMCSA	Buy	COMCAST CORP. CL Acl a	$31,324,000	+13.7%	884,600	+5.4%	2.46%	+2.2%
HDS	Sell	HD SUPPLY	$28,197,000	-7.2%	658,962	-7.0%	2.21%	-16.6%
IAC	Sell	IAC INTERACTIVECORP	$27,550,000	+9.7%	127,122	-22.8%	2.16%	-1.4%
CZR	Buy	CAESARS ENTMT CORP	$24,426,000	+13.1%	2,383,047	+18.1%	1.92%	+1.6%
QRTEA	Buy	QURATE RETAIL GROUP INC	$24,337,000	+9.1%	1,095,786	+4.3%	1.91%	-2.0%
FGWS	Buy	WTS FGL HOLDING 7/8/21*w exp 11/30/2021	$23,569,000	+986.6%	4,043,047	+123.7%	1.85%	+878.3%
IAC	Sell	IAC INTERACTIVECORPcall	$21,672,000	-22.1%	100,000	-45.2%	1.70%	-30.0%
GRPN	Buy	GROUPON	$21,637,000	+62.3%	5,739,200	+85.1%	1.70%	+45.8%
LEN	Buy	LENNAR CORP.cl a	$20,582,000	+37.0%	440,819	+54.1%	1.62%	+23.2%
SFLY	Buy	SHUTTERFLY INC	$19,679,000	+27.0%	298,658	+73.5%	1.54%	+14.1%
EBAY	Buy	EBAY INC	$19,564,000	-0.5%	592,500	+9.2%	1.54%	-10.6%
ERIC	Sell	ERICSSONadr b sek 10	$12,320,000	-8.2%	1,400,000	-20.0%	0.97%	-17.6%
TMUS	Buy	T-MOBILE US INC	$11,580,000	+25.0%	165,000	+6.5%	0.91%	+12.4%
ALV	Buy	AUTOLIV INC.	$9,795,000	-33.6%	113,000	+9.7%	0.77%	-40.4%
QRTEA	New	QURATE RETAIL GROUP INCcall	$9,008,000	–	405,600	–	0.71%	–
TSLA	New	TESLA INCput	$7,943,000	–	30,000	–	0.62%	–
JBGS	New	JBG SMITH PROPERTIEScall	$7,418,000	–	201,400	–	0.58%	–
DFS	Sell	DISCOVER FINANCIAL SERVICES	$6,116,000	-13.3%	80,000	-20.2%	0.48%	-22.1%
BUD	Sell	ANHEUSER BUSCH CO.sponsored adr	$5,269,000	-67.4%	60,165	-62.4%	0.41%	-70.7%
VNE	New	VEONEER INC	$5,182,000	–	94,100	–	0.41%	–
SBNY	New	SIGNATURE BANK	$3,445,000	–	30,000	–	0.27%	–
STT	New	STATE STREET CORP.	$3,351,000	–	40,000	–	0.26%	–
SBAC	Sell	SBA COMMUNICATIONS CORPcl a	$3,213,000	-22.2%	20,000	-20.0%	0.25%	-30.0%
DCOM	Buy	DIME COMMUNITY BANCSHARES	$2,856,000	+12.7%	160,000	+23.1%	0.22%	+1.4%
BANC	Sell	BANK OF CALIFORNIA	$2,646,000	-20.4%	140,000	-17.6%	0.21%	-28.3%
DWDP	New	DOW DUPONT	$2,572,000	–	40,000	–	0.20%	–
DWDP	New	DOW DUPONTcall	$1,929,000	–	30,000	–	0.15%	–
OPB	Sell	OPUS BANK	$1,918,000	-6.8%	70,000	-2.3%	0.15%	-16.7%
CZR	New	CAESARS ENTMT CORPcall	$1,538,000	–	150,000	–	0.12%	–
TBK	Sell	TRIUMPH BANCORP	$1,528,000	-53.1%	40,000	-50.0%	0.12%	-57.9%
HON	New	HONEYWELL INTL INC	$1,414,000	–	8,500	–	0.11%	–
ADBE	Buy	ADOBE SYSTEMS	$1,350,000	+35.0%	5,000	+22.0%	0.11%	+21.8%
AAPL	New	APPLE COMPUTER INC	$1,129,000	–	5,000	–	0.09%	–
LBC	New	LUTHER BURBANK	$1,110,000	–	102,054	–	0.09%	–
YELP	New	YELPcl a	$369,000	–	7,500	–	0.03%	–
PACB	Exit	PACIFIC BIOSCIENCES OF CALIFOR	$0	–	-222,910	–	-0.07%	–
MTSI	Exit	MACOM TECHNOLOGY	$0	–	-40,000	–	-0.08%	–
BDC	Exit	BELDEN	$0	–	-20,000	–	-0.11%	–
AIG	Exit	AMERICAN INTL GROUP	$0	–	-25,000	–	-0.12%	–
GLW	Exit	CORNING INC	$0	–	-60,000	–	-0.14%	–
FCEA	Exit	FOREST CITY REIT	$0	–	-368,415	–	-0.73%	–
GOOGL	Exit	ALPHABET INCcall	$0	–	-9,000	–	-0.89%	–
T	Exit	AMER TEL & TEL	$0	–	-380,804	–	-1.07%	–
FG	Exit	FGL HOLDINGS	$0	–	-2,235,547	–	-1.64%	–
UBNT	Exit	UBIQUITI NETWORKS INCput	$0	–	-250,000	–	-1.85%	–

Q2 2018

			Value		Shares		↓ Weighting
SPY	New	SPDR S&P 500 ETF TRput	$571,723,000	–	2,107,500	–	49.91%	–
HDS	New	HD SUPPLY	$30,385,000	–	708,449	–	2.65%	–
C	New	CITIGROUP INC	$28,769,000	–	429,900	–	2.51%	–
IAC	New	IAC INTERACTIVECORPcall	$27,814,000	–	182,400	–	2.43%	–
MAC	New	MACERICH REIT	$27,735,000	–	488,042	–	2.42%	–
CMCSA	New	COMCAST CORP. CL Acl a	$27,547,000	–	839,600	–	2.40%	–
CMCSA	New	COMCAST CORP. CL Acall	$27,068,000	–	825,000	–	2.36%	–
IAC	New	IAC INTERACTIVECORP	$25,103,000	–	164,622	–	2.19%	–
MSFT	New	MICROSOFT CORP	$25,047,000	–	254,000	–	2.19%	–
DIS	New	DISNEY (WALT) CORP	$24,578,000	–	234,500	–	2.15%	–
QRTEA	New	QURATE RETAIL GROUP INC	$22,298,000	–	1,050,786	–	1.95%	–
CZR	New	CAESARS ENTERTAINMENT	$21,593,000	–	2,018,047	–	1.88%	–
UBNT	New	UBIQUITI NETWORKS INCput	$21,180,000	–	250,000	–	1.85%	–
EBAY	New	EBAY INC	$19,671,000	–	542,500	–	1.72%	–
FG	New	FGL HOLDINGS	$18,756,000	–	2,235,547	–	1.64%	–
C	New	CITIGROUP INCcall	$16,563,000	–	247,500	–	1.45%	–
BUD	New	ANHEUSER BUSCH CO.sponsored adr	$16,138,000	–	160,165	–	1.41%	–
SFLY	New	SHUTTERFLY INC	$15,495,000	–	172,106	–	1.35%	–
LEN	New	LENNAR CORP.cl a	$15,020,000	–	286,100	–	1.31%	–
ALV	New	AUTOLIV INC.	$14,752,000	–	103,000	–	1.29%	–
AVHI	New	AV HOMES INC	$13,767,000	–	643,298	–	1.20%	–
BDGE	New	BRIDGE BANCORP INC	$13,618,000	–	378,805	–	1.19%	–
ERIC	New	ERICSSONadr b sek 10	$13,423,000	–	1,750,000	–	1.17%	–
GRPN	New	GROUPON	$13,330,000	–	3,100,000	–	1.16%	–
T	New	AMER TEL & TEL	$12,228,000	–	380,804	–	1.07%	–
GOOGL	New	ALPHABET INCcall	$10,163,000	–	9,000	–	0.89%	–
TMUS	New	T-MOBILE US INC	$9,261,000	–	155,000	–	0.81%	–
MAC	New	MACERICH REITcall	$8,525,000	–	150,000	–	0.74%	–
FCEA	New	FOREST CITY REIT	$8,404,000	–	368,415	–	0.73%	–
DFS	New	DISCOVER FINANCIAL SERVICES	$7,054,000	–	100,188	–	0.62%	–
JBGS	New	JBG SMITH PROPERTIES	$6,382,000	–	175,000	–	0.56%	–
SBAC	New	SBA COMMUNICATIONS CORPcl a	$4,128,000	–	25,000	–	0.36%	–
BANC	New	BANK OF CALIFORNIA	$3,324,000	–	170,000	–	0.29%	–
TBK	New	TRIUMPH BANCORP	$3,260,000	–	80,000	–	0.28%	–
MSL	New	MIDSOUTH BANCORP INC	$2,650,000	–	200,000	–	0.23%	–
DCOM	New	DIME COMMUNITY BANCSHARES	$2,535,000	–	130,000	–	0.22%	–
FGWS	New	WTS FGL HOLDING 7/8/21*w exp 11/30/2021	$2,169,000	–	1,807,500	–	0.19%	–
OPB	New	OPUS BANK	$2,057,000	–	71,675	–	0.18%	–
KEY	New	KEYCORP	$1,954,000	–	100,000	–	0.17%	–
GLW	New	CORNING INC	$1,651,000	–	60,000	–	0.14%	–
JPM	New	JPMORGAN CHASE & CO	$1,563,000	–	15,000	–	0.14%	–
TKR	New	TIMKEN	$1,524,000	–	35,000	–	0.13%	–
AIG	New	AMERICAN INTL GROUP	$1,326,000	–	25,000	–	0.12%	–
BDC	New	BELDEN	$1,222,000	–	20,000	–	0.11%	–
ADBE	New	ADOBE SYSTEMS	$1,000,000	–	4,100	–	0.09%	–
MTSI	New	MACOM TECHNOLOGY	$922,000	–	40,000	–	0.08%	–
PACB	New	PACIFIC BIOSCIENCES OF CALIFOR	$791,000	–	222,910	–	0.07%	–

Q4 2017

			Value		Shares		↓ Weighting
CFCOU	Exit	CF CORPunit 99/99/9999e	$0	–	-15,000	–	-0.02%	–
GS	Exit	GOLDMAN SACHS GROUP INC	$0	–	-2,800	–	-0.07%	–
ADBE	Exit	ADOBE SYSTEMS INC	$0	–	-5,000	–	-0.08%	–
SCHW	Exit	CHARLES SCHWAB CORP	$0	–	-22,500	–	-0.11%	–
PACB	Exit	PACIFIC BIOSCIENCES OF CALIFORNIA INC	$0	–	-224,827	–	-0.13%	–
CSCO	Exit	CISCO SYSTEMS INCcall	$0	–	-36,000	–	-0.13%	–
BAC	Exit	BANK OF AMERICA CORPcall	$0	–	-50,000	–	-0.14%	–
ESGC	Exit	EROS INTL PLCput	$0	–	-100,000	–	-0.16%	–
SMPL	Exit	SIMPLY GOOD FOODS CO	$0	–	-150,000	–	-0.19%	–
DBD	Exit	DIEBOLD NIXDORF INC.	$0	–	-80,000	–	-0.20%	–
IBB	Exit	ISHARES TRnasdaq biotech	$0	–	-6,000	–	-0.22%	–
OMF	Exit	ONEMAIN HOLDINGS INC COM	$0	–	-75,000	–	-0.23%	–
DCOM	Exit	DIME COMMUNITY BANCSHARES	$0	–	-100,000	–	-0.23%	–
ORLY	Exit	O REILLY AUTOMOTIVE INC NEW	$0	–	-10,000	–	-0.23%	–
OPB	Exit	OPUS BK IRVINE CALIF	$0	–	-100,000	–	-0.26%	–
MSL	Exit	MIDSOUTH BANCORP INC	$0	–	-202,102	–	-0.26%	–
LAMR	Exit	LAMAR ADVERTISING COcl a	$0	–	-40,000	–	-0.30%	–
BOFI	Exit	BOFI HOLDING INCput	$0	–	-100,000	–	-0.31%	–
SBAC	Exit	SBA COMMUNICATIONS CORPcl a	$0	–	-20,000	–	-0.31%	–
CMCSA	Exit	COMCAST CORP. CL Acl a	$0	–	-80,000	–	-0.34%	–
BMY	Exit	BRISTOL-MYERS SQUIBB COcall	$0	–	-50,000	–	-0.35%	–
QRTEA	Exit	LIBERTY INTERACTIVE CORPcall	$0	–	-150,000	–	-0.38%	–
FRBK	Exit	REPUBLIC FIRST BANCORP INC	$0	–	-431,095	–	-0.43%	–
XOXO	Exit	XO GROUP INC	$0	–	-220,044	–	-0.47%	–
CFCO	Exit	CF CORP CLASS A	$0	–	-410,000	–	-0.50%	–
MTCH	Exit	MATCH GROUP INC	$0	–	-203,802	–	-0.51%	–
FCEA	Exit	FOREST CITY RLTY TR INC	$0	–	-195,000	–	-0.54%	–
TBK	Exit	TRIUMPH BANCORP INC	$0	–	-165,000	–	-0.58%	–
GRPN	Exit	GROUPON INC	$0	–	-1,225,000	–	-0.69%	–
PJT	Exit	PJT PARTNERS INC	$0	–	-228,148	–	-0.95%	–
ERIC	Exit	ERICSSONadr b sek 10	$0	–	-1,600,000	–	-1.00%	–
BANC	Exit	BANK OF CALIFORNIA INC	$0	–	-470,000	–	-1.06%	–
AVHI	Exit	AV HOMES INC	$0	–	-638,977	–	-1.19%	–
C	Exit	CITIGROUP INCcall	$0	–	-157,500	–	-1.24%	–
HAWK	Exit	BLACKHAWK NETWORK HLDGS INC	$0	–	-284,100	–	-1.35%	–
TLT	Exit	ISHARES TRput	$0	–	-100,000	–	-1.36%	–
BDGE	Exit	BRIDGE BANCORP INC	$0	–	-378,805	–	-1.40%	–
ACBI	Exit	ATLANTIC CAPITAL BANCSHARES	$0	–	-829,367	–	-1.64%	–
QRTEA	Exit	LIBERTY INTERACTIVE CORP	$0	–	-666,900	–	-1.71%	–
EBAY	Exit	EBAY INC	$0	–	-420,000	–	-1.76%	–
BUD	Exit	ANHEUSER BUSCH INBEV SA/NVsponsored adr	$0	–	-145,165	–	-1.88%	–
HDS	Exit	HD SUPPLY HLDGS INC	$0	–	-488,104	–	-1.91%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-257,500	–	-2.08%	–
DFS	Exit	DISCOVER FINANCIAL SERVICES	$0	–	-300,000	–	-2.10%	–
MAC	Exit	MACERICH CO	$0	–	-365,000	–	-2.18%	–
MAC	Exit	MACERICH COcall	$0	–	-400,000	–	-2.39%	–
IAC	Exit	IAC INTERACTIVECORP	$0	–	-199,622	–	-2.55%	–
C	Exit	CITIGROUP INC	$0	–	-379,900	–	-3.00%	–
SFLY	Exit	SHUTTERFLY INC	$0	–	-655,788	–	-3.46%	–
QQQ	Exit	POWERSHARES QQQ TRUSTput	$0	–	-332,500	–	-5.26%	–
IWM	Exit	ISHARES TRput	$0	–	-400,000	–	-6.44%	–
SPY	Exit	SPDR S&P 500 ETF TRput	$0	–	-1,600,000	–	-43.70%	–

Q3 2017

			Value		Shares		↓ Weighting
SPY	Buy	SPDR S&P 500 ETF TRput	$401,968,000	+19.2%	1,600,000	+14.7%	43.70%	+3.5%
IWM	Sell	ISHARES TRput	$59,272,000	-39.9%	400,000	-42.9%	6.44%	-47.8%
QQQ	Buy	POWERSHARES QQQ TRUSTput	$48,362,000	+1071.0%	332,500	+1008.3%	5.26%	+916.8%
IAC	Sell	IAC INTERACTIVECORP	$23,472,000	-18.3%	199,622	-28.3%	2.55%	-29.1%
MAC	Buy	MACERICH COcall	$21,988,000	+278.7%	400,000	+300.0%	2.39%	+228.7%
MAC	Buy	MACERICH CO	$20,064,000	+92.0%	365,000	+102.8%	2.18%	+66.7%
DFS	Sell	DISCOVER FINANCIAL SERVICES	$19,344,000	-3.0%	300,000	-6.4%	2.10%	-15.7%
HDS	Buy	HD SUPPLY HLDGS INC	$17,606,000	+618.3%	488,104	+510.1%	1.91%	+523.5%
QRTEA	Buy	LIBERTY INTERACTIVE CORP	$15,719,000	+75.8%	666,900	+83.0%	1.71%	+52.7%
ACBI	Sell	ATLANTIC CAPITAL BANCSHARES	$15,053,000	-15.7%	829,367	-11.7%	1.64%	-26.8%
TLT	New	ISHARES TRput	$12,476,000	–	100,000	–	1.36%	–
C	Sell	CITIGROUP INCcall	$11,456,000	-3.9%	157,500	-11.7%	1.24%	-16.6%
AVHI	Buy	AV HOMES INC	$10,958,000	-0.2%	638,977	+16.7%	1.19%	-13.4%
BANC	Buy	BANK OF CALIFORNIA INC	$9,753,000	+22.6%	470,000	+27.0%	1.06%	+6.4%
ERIC	Buy	ERICSSONadr b sek 10	$9,200,000	+28.3%	1,600,000	+60.0%	1.00%	+11.5%
PJT	Sell	PJT PARTNERS INC	$8,740,000	-27.1%	228,148	-23.5%	0.95%	-36.7%
GRPN	Sell	GROUPON INC	$6,370,000	+10.6%	1,225,000	-18.3%	0.69%	-4.0%
TBK	Sell	TRIUMPH BANCORP INC	$5,321,000	+9.8%	165,000	-16.4%	0.58%	-4.8%
MTCH	Sell	MATCH GROUP INC	$4,726,000	-24.3%	203,802	-43.3%	0.51%	-34.3%
XOXO	Sell	XO GROUP INC	$4,328,000	+5.1%	220,044	-5.8%	0.47%	-8.7%
FRBK	Sell	REPUBLIC FIRST BANCORP INC	$3,988,000	-13.8%	431,095	-13.8%	0.43%	-25.0%
QRTEA	New	LIBERTY INTERACTIVE CORPcall	$3,536,000	–	150,000	–	0.38%	–
BMY	New	BRISTOL-MYERS SQUIBB COcall	$3,187,000	–	50,000	–	0.35%	–
SBAC	Sell	SBA COMMUNICATIONS CORPcl a	$2,881,000	-14.6%	20,000	-20.0%	0.31%	-25.8%
MSL	Buy	MIDSOUTH BANCORP INC	$2,435,000	+3.6%	202,102	+1.1%	0.26%	-9.9%
ORLY	New	O REILLY AUTOMOTIVE INC NEW	$2,153,000	–	10,000	–	0.23%	–
IBB	New	ISHARES TRnasdaq biotech	$2,001,000	–	6,000	–	0.22%	–
DBD	Buy	DIEBOLD NIXDORF INC.	$1,828,000	+8.8%	80,000	+33.3%	0.20%	-5.2%
SMPL	New	SIMPLY GOOD FOODS CO	$1,756,000	–	150,000	–	0.19%	–
ESGC	New	EROS INTL PLCput	$1,430,000	–	100,000	–	0.16%	–
BAC	New	BANK OF AMERICA CORPcall	$1,267,000	–	50,000	–	0.14%	–
CSCO	Sell	CISCO SYSTEMS INCcall	$1,210,000	-22.7%	36,000	-28.0%	0.13%	-32.7%
PACB	Sell	PACIFIC BIOSCIENCES OF CALIFORNIA INC	$1,180,000	+28.5%	224,827	-12.8%	0.13%	+11.3%
SCHW	Buy	CHARLES SCHWAB CORP	$985,000	+53.0%	22,500	+50.0%	0.11%	+32.1%
GS	Sell	GOLDMAN SACHS GROUP INC	$664,000	-40.2%	2,800	-44.0%	0.07%	-48.2%
CCC	Exit	CALGON CARBON CORP	$0	–	-30,000	–	-0.06%	–
XBI	Exit	SPDR SERIES TRUSTs&p biotech	$0	–	-10,000	–	-0.10%	–
M	Exit	MACYS INCcall	$0	–	-40,000	–	-0.12%	–
AZO	Exit	AUTOZONE INC	$0	–	-2,000	–	-0.14%	–
ONDK	Exit	ON DECK CAP INC	$0	–	-258,346	–	-0.15%	–
XLF	Exit	SELECT SECTOR SPDR TRcall	$0	–	-50,000	–	-0.15%	–
SNCR	Exit	SYNCHRONOSS TECHNOLOGIES INCput	$0	–	-100,000	–	-0.21%	–
SHOR	Exit	SHORETEL INC	$0	–	-291,800	–	-0.21%	–
TWTR	Exit	TWITTER INCcall	$0	–	-100,000	–	-0.22%	–
CPAA	Exit	CONYERS PK ACQUISITION	$0	–	-152,073	–	-0.22%	–
ST	Exit	SENSATA TECHNOLOGIES HLDG NV	$0	–	-50,000	–	-0.27%	–
NXST	Exit	NEXSTAR MEDIA GROUP INCcl a	$0	–	-45,000	–	-0.34%	–
AAPL	Exit	APPLE INCcall	$0	–	-35,000	–	-0.63%	–

Q2 2017

			Value		Shares		↓ Weighting
SPY	New	SPDR S&P 500 ETF TRput	$337,311,000	–	1,395,000	–	42.22%	–
IWM	New	ISHARES TRput	$98,644,000	–	700,000	–	12.35%	–
SFLY	New	SHUTTERFLY INC	$31,150,000	–	655,788	–	3.90%	–
IAC	New	IAC INTERACTIVECORP	$28,739,000	–	278,374	–	3.60%	–
C	New	CITIGROUP INC	$25,408,000	–	379,900	–	3.18%	–
DFS	New	DISCOVER FINANCIAL SERVICES	$19,936,000	–	320,568	–	2.50%	–
ACBI	New	ATLANTIC CAPITAL BANCSHARES INC	$17,848,000	–	939,367	–	2.23%	–
MSFT	New	MICROSOFT CORP	$17,750,000	–	257,500	–	2.22%	–
BUD	New	ANHEUSER BUSCH INBEV SA/NVsponsored adr	$16,020,000	–	145,165	–	2.00%	–
EBAY	New	EBAY INC	$14,666,000	–	420,000	–	1.84%	–
BDGE	New	BRIDGE BANCORP INC	$12,614,000	–	378,805	–	1.58%	–
HAWK	New	BLACKHAWK NETWORK HLDGS INC	$12,386,000	–	284,100	–	1.55%	–
PJT	New	PJT PARTNERS INC	$11,991,000	–	298,148	–	1.50%	–
C	New	CITIGROUP INCcall	$11,925,000	–	178,300	–	1.49%	–
AVHI	New	AV HOMES INC	$10,982,000	–	547,753	–	1.38%	–
MAC	New	MACERICH CO	$10,451,000	–	180,000	–	1.31%	–
QRTEA	New	LIBERTY INTERACTIVE CORP	$8,943,000	–	364,400	–	1.12%	–
BANC	New	BANK OF CALIFORNIA INC	$7,955,000	–	370,000	–	1.00%	–
ERIC	New	ERICSSONadr b sek 10	$7,170,000	–	1,000,000	–	0.90%	–
MTCH	New	MATCH GROUP INC	$6,247,000	–	359,482	–	0.78%	–
MAC	New	MACERICH COcall	$5,806,000	–	100,000	–	0.73%	–
GRPN	New	GROUPON INC	$5,760,000	–	1,500,000	–	0.72%	–
AAPL	New	APPLE INCcall	$5,040,000	–	35,000	–	0.63%	–
TBK	New	TRIUMPH BANCORP INC	$4,846,000	–	197,400	–	0.61%	–
FCEA	New	FOREST CITY RLTY TR INC	$4,713,000	–	195,000	–	0.59%	–
FRBK	New	REPUBLIC FIRST BANCORP INC	$4,625,000	–	500,000	–	0.58%	–
CFCO	New	CF CORP CLASS A	$4,613,000	–	410,000	–	0.58%	–
QQQ	New	POWERSHARES QQQ TRUSTput	$4,130,000	–	30,000	–	0.52%	–
XOXO	New	XO GROUP INC	$4,117,000	–	233,659	–	0.52%	–
SBAC	New	SBA COMMUNICATIONS CORP NEWcl a	$3,373,000	–	25,000	–	0.42%	–
CMCSA	New	COMCAST CORP. CL Acl a	$3,114,000	–	80,000	–	0.39%	–
LAMR	New	LAMAR ADVERTISING CO.CLASS Acl a	$2,943,000	–	40,000	–	0.37%	–
NXST	New	NEXSTAR MEDIA GROUP INCcl a	$2,691,000	–	45,000	–	0.34%	–
HDS	New	HD SUPPLY HLDGS INC	$2,451,000	–	80,000	–	0.31%	–
OPB	New	OPUS BK IRVINE CALIF	$2,420,000	–	100,000	–	0.30%	–
BOFI	New	BOFI HLDG INCput	$2,372,000	–	100,000	–	0.30%	–
MSL	New	MIDSOUTH BANCORP INC	$2,351,000	–	200,000	–	0.29%	–
ST	New	SENSATA TECHNOLOGIES HLDG NV	$2,136,000	–	50,000	–	0.27%	–
DCOM	New	DIME COMMUNITY BANCSHARES	$1,960,000	–	100,000	–	0.24%	–
OMF	New	ONEMAIN HOLDINGS INC	$1,844,000	–	75,000	–	0.23%	–
TWTR	New	TWITTER INCcall	$1,787,000	–	100,000	–	0.22%	–
CPAA	New	CONYERS PK ACQUISITION	$1,791,000	–	152,073	–	0.22%	–
SHOR	New	SHORETEL INC	$1,692,000	–	291,800	–	0.21%	–
DBD	New	DIEBOLD NXDF INC	$1,680,000	–	60,000	–	0.21%	–
SNCR	New	SYNCHRONOSS TECHNOLOGIES INCput	$1,645,000	–	100,000	–	0.21%	–
CSCO	New	CISCO SYS INCcall	$1,565,000	–	50,000	–	0.20%	–
XLF	New	SELECT SECTOR SPDR TRcall	$1,233,000	–	50,000	–	0.15%	–
ONDK	New	ON DECK CAP INC	$1,204,000	–	258,346	–	0.15%	–
AZO	New	AUTOZONE INC	$1,141,000	–	2,000	–	0.14%	–
GS	New	GOLDMAN SACHS GROUP INC	$1,110,000	–	5,000	–	0.14%	–
M	New	MACYS INCcall	$930,000	–	40,000	–	0.12%	–
PACB	New	PACIFIC BIOSCIENCES OF CALIF INC	$918,000	–	257,910	–	0.12%	–
XBI	New	SPDR SERIES TRUSTs&p biotech	$771,000	–	10,000	–	0.10%	–
ADBE	New	ADOBE SYSTEMS INC	$707,000	–	5,000	–	0.09%	–
SCHW	New	CHARLES SCHWAB CORP NEW	$644,000	–	15,000	–	0.08%	–
CCC	New	CALGON CARBON CORP	$453,000	–	30,000	–	0.06%	–
CFCOU	New	CF CORPunit 99/99/9999e	$184,000	–	15,000	–	0.02%	–

Q4 2016

			Value		Shares		↓ Weighting
PYPL	Exit	PAYPAL HOLDINGS INC	$0	–	-10,000	–	-0.05%	–
MRK	Exit	MERCK & COMPANYcall	$0	–	-10,000	–	-0.07%	–
DEA	Exit	EASTERLY GOVERNMENT PROPERTY	$0	–	-40,000	–	-0.09%	–
ELY	Exit	CALLAWAY GOLF CO	$0	–	-97,800	–	-0.13%	–
AMGN	Exit	AMGEN INC	$0	–	-7,000	–	-0.14%	–
HON	Exit	HONEYWELL INTL INC	$0	–	-10,000	–	-0.14%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-10,000	–	-0.14%	–
ADBE	Exit	ADOBE SYSTEMS	$0	–	-12,500	–	-0.16%	–
PFE	Exit	PFIZER INCcall	$0	–	-40,000	–	-0.16%	–
ALSN	Exit	ALLISON TRANSMISSION HOLDINGS	$0	–	-50,000	–	-0.17%	–
AKAM	Exit	AKAMAI TECHNOLOGIES INC.	$0	–	-30,000	–	-0.18%	–
ST	Exit	SENSATA TECHNOLOGIES HLDG NV	$0	–	-50,000	–	-0.23%	–
IDCC	Exit	INTERDIGITAL INC	$0	–	-25,000	–	-0.23%	–
QRTEA	Exit	LIBERTY INTERACTIVE CORP	$0	–	-100,000	–	-0.23%	–
GE	Exit	GENERAL ELECTRIC COcall	$0	–	-70,000	–	-0.24%	–
TTEC	Exit	TELETECH HOLDINGS INC	$0	–	-80,100	–	-0.27%	–
EBAY	Exit	EBAY INC	$0	–	-75,000	–	-0.29%	–
KEY	Exit	KEYCORP	$0	–	-204,000	–	-0.29%	–
LLY	Exit	LILLY ELI & COcall	$0	–	-35,000	–	-0.33%	–
AAPL	Exit	APPLE COMPUTER INCcall	$0	–	-25,000	–	-0.33%	–
TBK	Exit	TRIUMPH BANCORP	$0	–	-205,000	–	-0.47%	–
XLE	Exit	ENERGY SECTOR SPDRcall	$0	–	-75,000	–	-0.62%	–
HAWK	Exit	BLACKHAWK NETWORK HLDGS INC	$0	–	-214,600	–	-0.76%	–
FRBK	Exit	REPUBLIC FIRST BANCORP INC	$0	–	-1,589,149	–	-0.76%	–
TMUS	Exit	T-MOBILE US INC	$0	–	-155,000	–	-0.84%	–
WBMD	Exit	WEBMD HEALTH CORP	$0	–	-150,000	–	-0.87%	–
MTCH	Exit	MATCH GROUP	$0	–	-498,875	–	-1.04%	–
AVHI	Exit	AV HOMES INC	$0	–	-544,080	–	-1.06%	–
CMAWS	Exit	WTS COMERICA EXP 11/14/18*w exp 11/14/2018	$0	–	-500,000	–	-1.07%	–
PJT	Exit	PJT PARTNERS	$0	–	-393,148	–	-1.25%	–
TWX	Exit	TIME WARNER INC	$0	–	-145,000	–	-1.35%	–
BDGE	Exit	BRIDGE BANCORP INC	$0	–	-461,814	–	-1.54%	–
ACBI	Exit	ATLANTIC CAPITAL BANCSHARES INC	$0	–	-939,367	–	-1.64%	–
CCOI	Exit	COGENT COMMUNICATIONS HLDGS	$0	–	-394,125	–	-1.69%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-268,500	–	-1.80%	–
DFS	Exit	DISCOVER FINANCIAL SERVICES	$0	–	-275,000	–	-1.81%	–
BUD	Exit	ANHEUSER BUSCH INBEV SA/NVsponsored adr	$0	–	-147,000	–	-2.25%	–
C	Exit	CITIGROUP INC	$0	–	-420,000	–	-2.31%	–
IL	Exit	INTRALINKS HLDG	$0	–	-2,280,729	–	-2.68%	–
C	Exit	CITIGROUP INCcall	$0	–	-568,400	–	-3.13%	–
DFS	Exit	DISCOVER FINANCIAL SERVICEScall	$0	–	-475,000	–	-3.13%	–
SFLY	Exit	SHUTTERFLY INC	$0	–	-621,265	–	-3.24%	–
IAC	Exit	IAC INTERACTIVECORP	$0	–	-513,187	–	-3.74%	–
TSLA	Exit	TESLA MOTORS INCput	$0	–	-160,000	–	-3.81%	–
IWM	Exit	ISHARESRUT2000put	$0	–	-1,500,000	–	-21.73%	–
SPY	Exit	SPDR S&P 500 ETF TRput	$0	–	-1,250,000	–	-31.54%	–

Q3 2016

			Value		Shares		↓ Weighting
SPY	Buy	SPDR S&P 500 ETF TRput	$270,375,000	+10.3%	1,250,000	+6.8%	31.54%	+9.3%
IWM	Sell	ISHARESRUT2000put	$186,315,000	-7.4%	1,500,000	-14.3%	21.73%	-8.2%
TSLA	New	TESLA MOTORS INCput	$32,645,000	–	160,000	–	3.81%	–
SFLY	Buy	SHUTTERFLY INC	$27,733,000	-2.8%	621,265	+1.5%	3.24%	-3.7%
DFS	Sell	DISCOVER FINANCIAL SERVICEScall	$26,861,000	-22.9%	475,000	-26.9%	3.13%	-23.6%
C	Sell	CITIGROUP INCcall	$26,846,000	-37.8%	568,400	-44.2%	3.13%	-38.4%
CCOI	Sell	COGENT COMMUNICATIONS HLDGS	$14,507,000	-20.4%	394,125	-13.4%	1.69%	-21.1%
TWX	Sell	TIME WARNER INC	$11,543,000	+1.3%	145,000	-6.5%	1.35%	+0.4%
PJT	Buy	PJT PARTNERS	$10,722,000	+23.6%	393,148	+4.2%	1.25%	+22.5%
MTCH	Sell	MATCH GROUP	$8,875,000	-24.2%	498,875	-35.7%	1.04%	-24.8%
WBMD	New	WEBMD HEALTH CORP	$7,455,000	–	150,000	–	0.87%	–
TMUS	Sell	T-MOBILE US INC	$7,242,000	+2.9%	155,000	-4.7%	0.84%	+1.9%
HAWK	New	BLACKHAWK NETWORK HLDGS INC	$6,474,000	–	214,600	–	0.76%	–
XLE	New	ENERGY SECTOR SPDRcall	$5,295,000	–	75,000	–	0.62%	–
AAPL	New	APPLE COMPUTER INCcall	$2,826,000	–	25,000	–	0.33%	–
LLY	New	LILLY ELI & COcall	$2,809,000	–	35,000	–	0.33%	–
KEY	New	KEYCORP	$2,483,000	–	204,000	–	0.29%	–
EBAY	Sell	EBAY INC	$2,468,000	-4.2%	75,000	-31.8%	0.29%	-5.0%
TTEC	Sell	TELETECH HOLDINGS INC	$2,322,000	-14.5%	80,100	-20.0%	0.27%	-15.3%
GE	New	GENERAL ELECTRIC COcall	$2,074,000	–	70,000	–	0.24%	–
QRTEA	New	LIBERTY INTERACTIVE CORP	$2,001,000	–	100,000	–	0.23%	–
IDCC	Sell	INTERDIGITAL INC	$1,980,000	-92.3%	25,000	-94.6%	0.23%	-92.3%
ST	Buy	SENSATA TECHNOLOGIES HLDG NV	$1,939,000	+39.0%	50,000	+25.0%	0.23%	+37.8%
AKAM	New	AKAMAI TECHNOLOGIES INC.	$1,590,000	–	30,000	–	0.18%	–
ALSN	New	ALLISON TRANSMISSION HOLDINGS	$1,434,000	–	50,000	–	0.17%	–
PFE	Sell	PFIZER INCcall	$1,354,000	-23.1%	40,000	-20.0%	0.16%	-23.7%
ADBE	New	ADOBE SYSTEMS	$1,357,000	–	12,500	–	0.16%	–
AMGN	Sell	AMGEN INC	$1,167,000	+2.3%	7,000	-6.7%	0.14%	+1.5%
DEA	Sell	EASTERLY GOVERNMENT PROPERTY	$763,000	-86.5%	40,000	-86.0%	0.09%	-86.6%
MRK	New	MERCK & COMPANYcall	$624,000	–	10,000	–	0.07%	–
PYPL	Sell	PAYPAL HOLDINGS INC	$409,000	-25.2%	10,000	-33.3%	0.05%	-25.0%
PGC	Exit	PEAPACK GLADSTONE FINCL CORP	$0	–	-4,648	–	-0.01%	–
GDX	Exit	VANECK VECTORS ETF TRgold miners etf	$0	–	-20,000	–	-0.06%	–
FBNK	Exit	FIRST CONN BANCORP	$0	–	-50,000	–	-0.10%	–
PEP	Exit	PEPSICO INC	$0	–	-10,000	–	-0.12%	–
BSRR	Exit	SIERRA BANCORP	$0	–	-80,174	–	-0.16%	–
MCD	Exit	MCDONALDS CORP	$0	–	-17,500	–	-0.25%	–
FOX	Exit	TWENTY FIRST CENTURY FOX INCcl b	$0	–	-100,000	–	-0.32%	–
FNFG	Exit	FIRST NIAGARA FINANCIAL GROUP INC	$0	–	-300,000	–	-0.34%	–
SCNB	Exit	SUFFOLK BANKCORP	$0	–	-100,445	–	-0.37%	–
MLM	Exit	MARTIN MARIETTA MATERIALS	$0	–	-37,000	–	-0.84%	–
TLT	Exit	ISHARES TRput	$0	–	-100,000	–	-1.64%	–

Q2 2016

			Value		Shares		↓ Weighting
SPY	New	SPDR S&P 500 ETF TRput	$245,086,000	–	1,170,000	–	28.84%	–
IWM	New	ISHARES TRput	$201,215,000	–	1,750,000	–	23.68%	–
C	New	CITIGROUP INCcall	$43,170,000	–	1,018,400	–	5.08%	–
DFS	New	DISCOVER FINANCIAL SERVICEScall	$34,833,000	–	650,000	–	4.10%	–
IAC	New	IAC INTERACTIVECORP	$28,893,000	–	513,187	–	3.40%	–
SFLY	New	SHUTTERFLY INC	$28,538,000	–	612,288	–	3.36%	–
IDCC	New	INTERDIGITAL INC	$25,571,000	–	459,250	–	3.01%	–
BUD	New	ANHEUSER BUSCH INBEV SA/NVsponsored adr	$19,357,000	–	147,000	–	2.28%	–
CCOI	New	COGENT COMMUNICATIONS	$18,224,000	–	454,925	–	2.14%	–
C	New	CITIGROUP INC	$17,804,000	–	420,000	–	2.10%	–
IL	New	INTRALINKS HLDG INC	$14,825,000	–	2,280,729	–	1.74%	–
DFS	New	DISCOVER FINANCIAL SERVICES	$14,737,000	–	275,000	–	1.73%	–
TLT	New	ISHARES TRput	$13,890,000	–	100,000	–	1.64%	–
MSFT	New	MICROSOFT CORP	$13,739,000	–	268,500	–	1.62%	–
ACBI	New	ATLANTIC CAPITAL BANCSHARES	$13,584,000	–	939,367	–	1.60%	–
BDGE	New	BRIDGE BANCORP INC	$13,116,000	–	461,814	–	1.54%	–
MTCH	New	MATCH GROUP	$11,701,000	–	776,178	–	1.38%	–
TWX	New	TIME WARNER INC	$11,398,000	–	155,000	–	1.34%	–
PJT	New	PJT PARTNERS INC	$8,674,000	–	377,139	–	1.02%	–
MLM	New	MARTIN MARIETTA MATERIALS	$7,104,000	–	37,000	–	0.84%	–
TMUS	New	T-MOBILE US INC	$7,040,000	–	162,700	–	0.83%	–
FRBK	New	REPUBLIC FIRST BANCORP INC	$6,849,000	–	1,589,149	–	0.81%	–
AVHI	New	AV HOMES INC	$6,648,000	–	544,080	–	0.78%	–
CMAWS	New	WTS COMERICA EXP 11/14/18*w exp 11/14/2018	$6,500,000	–	500,000	–	0.76%	–
DEA	New	EASTERLY GOVERNMENT PROPERTY	$5,640,000	–	285,833	–	0.66%	–
TBK	New	TRIUMPH BANCORP INC	$3,280,000	–	205,000	–	0.39%	–
SCNB	New	SUFFOLK BANKCORP	$3,145,000	–	100,445	–	0.37%	–
FNFG	New	FIRST NIAGARA FINANCIAL GROUP INC	$2,922,000	–	300,000	–	0.34%	–
FOX	New	TWENTY FIRST CENTURY FOX INCcl b	$2,726,000	–	100,000	–	0.32%	–
TTEC	New	TELETECH HOLDINGS INC	$2,716,000	–	100,100	–	0.32%	–
EBAY	New	EBAY INC	$2,575,000	–	110,000	–	0.30%	–
MCD	New	MCDONALDS CORP	$2,106,000	–	17,500	–	0.25%	–
PFE	New	PFIZER INCcall	$1,760,000	–	50,000	–	0.21%	–
ST	New	SENSATA TECHNOLOGIES	$1,395,000	–	40,000	–	0.16%	–
BSRR	New	SIERRA BANCORP	$1,338,000	–	80,174	–	0.16%	–
JNJ	New	JOHNSON & JOHNSON	$1,213,000	–	10,000	–	0.14%	–
HON	New	HONEYWELL INTL INC	$1,163,000	–	10,000	–	0.14%	–
AMGN	New	AMGEN INC	$1,141,000	–	7,500	–	0.13%	–
PEP	New	PEPSICO INC	$1,059,000	–	10,000	–	0.12%	–
ELY	New	CALLAWAY GOLF CO	$998,000	–	97,800	–	0.12%	–
FBNK	New	FIRST CONN BANCORP	$828,000	–	50,000	–	0.10%	–
GDX	New	VANECK VECTORS ETF TRgold miners etf	$555,000	–	20,000	–	0.06%	–
PYPL	New	PAYPAL HOLDINGS INC	$547,000	–	15,000	–	0.06%	–
PGC	New	PEAPACK GLADSTONE FINCL CORP	$86,000	–	4,648	–	0.01%	–

Q4 2015

			Value		Shares		↓ Weighting
NBBC	Exit	NEWBRDIGE BANCORPcl a no par	$0	–	-2,514	–	-0.00%	–
CSTM	Exit	CONSTELLIUMcl a	$0	–	-60,000	–	-0.04%	–
EBAY	Exit	EBAY INC	$0	–	-20,000	–	-0.05%	–
MU	Exit	MICRON TECHNOLOGY INCcall	$0	–	-35,000	–	-0.06%	–
TIF	Exit	TIFFANY & CO.	$0	–	-7,500	–	-0.06%	–
PYPL	Exit	PAYPAL HOLDINGS INC	$0	–	-20,000	–	-0.07%	–
FBNK	Exit	FIRST CONN BANCORP	$0	–	-50,000	–	-0.09%	–
ELY	Exit	CALLAWAY GOLF CO	$0	–	-97,800	–	-0.09%	–
PEP	Exit	PEPSICO INC	$0	–	-10,000	–	-0.10%	–
CSCO	Exit	CISCO SYSTEMS INCcall	$0	–	-40,000	–	-0.11%	–
FNFG	Exit	FIRST NIAGARA FINANCIAL GROUP	$0	–	-110,000	–	-0.12%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-12,500	–	-0.12%	–
BSRR	Exit	SIERRA BANCORP	$0	–	-124,434	–	-0.21%	–
OUTR	Exit	OUTERWALL INC	$0	–	-35,000	–	-0.21%	–
SCNB	Exit	SUFFOLK BANKCORP	$0	–	-75,000	–	-0.22%	–
TTEC	Exit	TELETECH HOLDINGS	$0	–	-77,600	–	-0.22%	–
AAPL	Exit	APPLE COMPUTER INCcall	$0	–	-20,000	–	-0.24%	–
MCD	Exit	MCDONALDS	$0	–	-22,500	–	-0.24%	–
WBMD	Exit	WEBMD HEALTH	$0	–	-60,000	–	-0.26%	–
EBIX	Exit	EBIX INCput	$0	–	-100,000	–	-0.27%	–
PFE	Exit	PFIZER INCcall	$0	–	-80,000	–	-0.27%	–
LAMR	Exit	LAMAR ADVERTISING CO.CLASS Acl a	$0	–	-50,000	–	-0.28%	–
PEP	Exit	PEPSICO INCcall	$0	–	-30,000	–	-0.30%	–
STL	Exit	STERLING BANCORP	$0	–	-199,900	–	-0.32%	–
BPOP	Exit	POPULAR INC	$0	–	-110,000	–	-0.36%	–
DISCK	Exit	DISCOVERY COMM.-C	$0	–	-140,000	–	-0.36%	–
TBK	Exit	TRIUMPH BANCORP	$0	–	-202,971	–	-0.36%	–
FOX	Exit	TWENTY FIRST CENTY FOX INCcl b	$0	–	-130,000	–	-0.38%	–
XLF	Exit	FINANCIAL SELECT SPDRsbi int-finl	$0	–	-200,000	–	-0.48%	–
DEA	Exit	EASTERLY GOVERNMENT PROPERTY	$0	–	-320,833	–	-0.55%	–
TWX	Exit	TIME WARNER INC	$0	–	-75,000	–	-0.55%	–
CCOI	Exit	COGENT COMMUNICATIONScall	$0	–	-200,000	–	-0.58%	–
TMUS	Exit	T-MOBILE US INC	$0	–	-142,700	–	-0.61%	–
FRBK	Exit	REPUBLIC FIRST BANCORP	$0	–	-1,570,012	–	-0.62%	–
CMAWS	Exit	WTS COMERICA EXP 11/14/18*w exp 11/14/2018	$0	–	-500,000	–	-0.67%	–
AVHI	Exit	AV HOMES INC	$0	–	-538,232	–	-0.78%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-273,500	–	-1.29%	–
CCK	Exit	CROWN HOLDINGS INC	$0	–	-284,233	–	-1.39%	–
BDGE	Exit	BRIDGE BANCORP INC	$0	–	-521,400	–	-1.49%	–
DFS	Exit	DISCOVER FINANCIAL SERVICES	$0	–	-270,000	–	-1.50%	–
IAC	Exit	IAC INTERACTIVECORP	$0	–	-221,429	–	-1.54%	–
FSGI	Exit	FIRST SECURITY GROUP INC	$0	–	-6,000,000	–	-1.60%	–
BUD	Exit	ANHEUSER BUSCH COsponsored adr	$0	–	-147,000	–	-1.67%	–
IAC	Exit	IAC INTERACTIVECORPcall	$0	–	-266,900	–	-1.86%	–
IL	Exit	INTRALINKS HLDG	$0	–	-2,127,891	–	-1.88%	–
MLM	Exit	MARTIN MARIETTA MATERIALS	$0	–	-125,000	–	-2.03%	–
C	Exit	CITIGROUP INC	$0	–	-420,000	–	-2.22%	–
CCOI	Exit	COGENT COMMUNICATIONS	$0	–	-857,925	–	-2.49%	–
IDCC	Exit	INTERDIGITAL INC	$0	–	-475,000	–	-2.57%	–
SFLY	Exit	SHUTTERFLY INC	$0	–	-732,947	–	-2.80%	–
DFS	Exit	DISCOVER FINANCIAL SERVICEScall	$0	–	-650,000	–	-3.61%	–
C	Exit	CITIGROUP INCcall	$0	–	-998,400	–	-5.29%	–
BUD	Exit	ANHEUSER BUSCH COcall	$0	–	-800,000	–	-9.08%	–
IWM	Exit	ISHARESRUT2000put	$0	–	-1,700,000	–	-19.82%	–
SPY	Exit	SPDR S&P 500 ETF TRput	$0	–	-1,255,000	–	-25.67%	–

Q3 2015

			Value		Shares		↓ Weighting
SPY	Buy	SPDR S&P 500 ETF TRput	$240,496,000	+24.3%	1,255,000	+33.5%	25.67%	+11.4%
IWM	Sell	ISHARESRUT2000put	$185,640,000	-19.6%	1,700,000	-8.1%	19.82%	-28.0%
BUD	Buy	ANHEUSER BUSCH COcall	$85,056,000	+76.2%	800,000	+100.0%	9.08%	+57.9%
C	Buy	CITIGROUP INCcall	$49,530,000	+796.6%	998,400	+898.4%	5.29%	+703.5%
DFS	New	DISCOVER FINANCIAL SERVICEScall	$33,793,000	–	650,000	–	3.61%	–
SFLY	Buy	SHUTTERFLY INC	$26,203,000	-20.1%	732,947	+6.9%	2.80%	-28.4%
IDCC	Buy	INTERDIGITAL INC	$24,035,000	+1.3%	475,000	+13.9%	2.57%	-9.2%
CCOI	Buy	COGENT COMMUNICATIONS	$23,301,000	-14.8%	857,925	+6.2%	2.49%	-23.6%
C	Buy	CITIGROUP INC	$20,836,000	-6.9%	420,000	+3.7%	2.22%	-16.5%
IL	Buy	INTRALINKS HLDG	$17,640,000	-20.5%	2,127,891	+14.2%	1.88%	-28.8%
IAC	Buy	IAC INTERACTIVECORPcall	$17,420,000	-12.6%	266,900	+6.6%	1.86%	-21.7%
IAC	Buy	IAC INTERACTIVECORP	$14,453,000	-6.7%	221,429	+13.9%	1.54%	-16.4%
DFS	Buy	DISCOVER FINANCIAL SERVICES	$14,037,000	+121.5%	270,000	+145.5%	1.50%	+98.4%
AVHI	Buy	AV HOMES INC	$7,277,000	+266.6%	538,232	+289.6%	0.78%	+229.2%
FRBK	Buy	REPUBLIC FIRST BANCORP	$5,840,000	+7.9%	1,570,012	+0.6%	0.62%	-3.4%
TMUS	Sell	T-MOBILE US INC	$5,681,000	-48.5%	142,700	-49.9%	0.61%	-53.9%
TWX	New	TIME WARNER INC	$5,156,000	–	75,000	–	0.55%	–
DEA	Buy	EASTERLY GOVERNMENT PROPERTY	$5,117,000	+81.8%	320,833	+81.4%	0.55%	+63.0%
XLF	New	FINANCIAL SELECT SPDRsbi int-finl	$4,532,000	–	200,000	–	0.48%	–
FOX	New	TWENTY FIRST CENTY FOX INCcl b	$3,519,000	–	130,000	–	0.38%	–
TBK	Buy	TRIUMPH BANCORP	$3,410,000	+29.7%	202,971	+1.5%	0.36%	+16.3%
DISCK	New	DISCOVERY COMM.-C	$3,401,000	–	140,000	–	0.36%	–
BPOP	Sell	POPULAR INC	$3,326,000	-11.4%	110,000	-15.4%	0.36%	-20.6%
STL	New	STERLING BANCORP	$2,973,000	–	199,900	–	0.32%	–
PFE	New	PFIZER INCcall	$2,513,000	–	80,000	–	0.27%	–
WBMD	New	WEBMD HEALTH	$2,391,000	–	60,000	–	0.26%	–
MCD	Buy	MCDONALDS	$2,217,000	+55.5%	22,500	+50.0%	0.24%	+39.4%
SCNB	Buy	SUFFOLK BANKCORP	$2,049,000	+13.4%	75,000	+6.5%	0.22%	+1.9%
OUTR	New	OUTERWALL INC	$1,993,000	–	35,000	–	0.21%	–
JNJ	New	JOHNSON & JOHNSON	$1,167,000	–	12,500	–	0.12%	–
ELY	Sell	CALLAWAY GOLF CO	$817,000	-53.2%	97,800	-49.9%	0.09%	-58.2%
FBNK	Buy	FIRST CONN BANCORP	$806,000	+1.9%	50,000	+0.4%	0.09%	-8.5%
PYPL	New	PAYPAL HOLDINGS INC	$621,000	–	20,000	–	0.07%	–
MU	Buy	MICRON TECHNOLOGY INCcall	$524,000	-7.3%	35,000	+16.7%	0.06%	-16.4%
CSTM	Sell	CONSTELLIUMcl a	$364,000	-69.2%	60,000	-40.0%	0.04%	-72.3%
NBBC	New	NEWBRDIGE BANCORPcl a no par	$22,000	–	2,514	–	0.00%	–
VBTX	Exit	VERITEX HLDGS	$0	–	-18,061	–	-0.03%	–
TASR	Exit	TASER INTL	$0	–	-15,000	–	-0.06%	–
UAA	Exit	UNDER ARMOURcl a	$0	–	-12,500	–	-0.12%	–
PMT	Exit	PENNYMAC MTG INVT TR	$0	–	-70,000	–	-0.14%	–
RKUS	Exit	RUCKUS WIRELESS	$0	–	-120,000	–	-0.15%	–
FAST	Exit	FASTENAL CO.	$0	–	-30,000	–	-0.15%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-45,000	–	-0.36%	–
DOW	Exit	DOW CHEM CO	$0	–	-125,000	–	-0.76%	–
HVB	Exit	HUDSON VALLEY HLDG CO	$0	–	-394,300	–	-1.32%	–

Q2 2015

			Value		Shares		↓ Weighting
IWM	New	ISHARES TRput	$230,991,000	–	1,850,000	–	27.52%	–
SPY	New	SPDR S&P 500 ETF TRput	$193,499,000	–	940,000	–	23.05%	–
BUD	New	ANHEUSER BUSCH CO.call	$48,268,000	–	400,000	–	5.75%	–
SFLY	New	SHUTTERFLY INC	$32,795,000	–	685,939	–	3.91%	–
CCOI	New	COGENT COMMUNICATIONS	$27,340,000	–	807,925	–	3.26%	–
IDCC	New	INTERDIGITAL INC	$23,723,000	–	417,000	–	2.83%	–
C	New	CITIGROUP INC	$22,372,000	–	405,000	–	2.66%	–
IL	New	INTRALINKS HLDG	$22,197,000	–	1,863,780	–	2.64%	–
IAC	New	IAC INTERACTIVECORPcall	$19,939,000	–	250,300	–	2.38%	–
BUD	New	ANHEUSER BUSCH CO.sponsored adr	$17,739,000	–	147,000	–	2.11%	–
MLM	New	MARTIN MARIETTA MATERIALS	$17,688,000	–	125,000	–	2.11%	–
IAC	New	IAC INTERACTIVECORP	$15,488,000	–	194,429	–	1.84%	–
CCK	New	CROWN HOLDINGS INC	$15,039,000	–	284,233	–	1.79%	–
FSGI	New	FIRST SECURITY GROUP INC	$14,701,000	–	6,000,000	–	1.75%	–
BDGE	New	BRIDGE BANCORP INC	$13,916,000	–	521,400	–	1.66%	–
MSFT	New	MICROSOFT CORP	$12,075,000	–	273,500	–	1.44%	–
HVB	New	HUDSON VALLEY HLDG CO	$11,123,000	–	394,300	–	1.32%	–
CMAWS	New	WTS COMERICA EXP 11/14/18w exp 11/14/2018	$11,060,000	–	500,000	–	1.32%	–
TMUS	New	T-MOBILE US INC	$11,038,000	–	284,700	–	1.32%	–
CCOI	New	COGENT COMMUNICATIONScall	$6,768,000	–	200,000	–	0.81%	–
DOW	New	DOW CHEM CO	$6,397,000	–	125,000	–	0.76%	–
DFS	New	DISCOVER FINANCIAL SERVICES	$6,338,000	–	110,000	–	0.76%	–
C	New	CITIGROUP INCcall	$5,524,000	–	100,000	–	0.66%	–
FRBK	New	REPUBLIC FIRST BANCORP	$5,413,000	–	1,560,000	–	0.64%	–
BPOP	New	POPULAR INC	$3,752,000	–	130,000	–	0.45%	–
EBIX	New	EBIX INCput	$3,261,000	–	100,000	–	0.39%	–
JPM	New	JPMORGAN CHASE & CO	$3,049,000	–	45,000	–	0.36%	–
LAMR	New	LAMAR ADVERTISING CO.CLASS Acl a	$2,874,000	–	50,000	–	0.34%	–
DEA	New	EASTERLY GOVERNMENT PROPERTY	$2,815,000	–	176,824	–	0.34%	–
PEP	New	PEPSICO INCcall	$2,800,000	–	30,000	–	0.33%	–
TBK	New	TRIUMPH BANCORP	$2,630,000	–	200,000	–	0.31%	–
AAPL	New	APPLE INCcall	$2,508,000	–	20,000	–	0.30%	–
BSRR	New	SIERRA BANCORP	$2,154,000	–	124,434	–	0.26%	–
TTEC	New	TELETECH HOLDINGS	$2,101,000	–	77,600	–	0.25%	–
AVHI	New	AV HOMES INC	$1,985,000	–	138,133	–	0.24%	–
SCNB	New	SUFFOLK BANKCORP	$1,807,000	–	70,398	–	0.22%	–
ELY	New	CALLAWAY GOLF CO	$1,746,000	–	195,300	–	0.21%	–
MCD	New	MCDONALDS	$1,426,000	–	15,000	–	0.17%	–
FAST	New	FASTENAL CO.	$1,265,000	–	30,000	–	0.15%	–
RKUS	New	RUCKUS WIRELESS	$1,241,000	–	120,000	–	0.15%	–
PMT	New	PENNYMAC MTG INVT TR	$1,220,000	–	70,000	–	0.14%	–
EBAY	New	EBAY INC	$1,205,000	–	20,000	–	0.14%	–
CSTM	New	CONSTELLIUMcl a	$1,183,000	–	100,000	–	0.14%	–
CSCO	New	CISCO SYSTEMS INCcall	$1,099,000	–	40,000	–	0.13%	–
UAA	New	UNDER ARMOURcl a	$1,043,000	–	12,500	–	0.12%	–
FNFG	New	FIRST NIAGARA FINANCIAL GROUP	$1,038,000	–	110,000	–	0.12%	–
PEP	New	PEPSICO INC	$933,000	–	10,000	–	0.11%	–
FBNK	New	FIRST CONN BANCORP	$791,000	–	49,797	–	0.09%	–
TIF	New	TIFFANY & CO.	$689,000	–	7,500	–	0.08%	–
MU	New	MICRON TECHNOLOGY INCcall	$565,000	–	30,000	–	0.07%	–
TASR	New	TASER INTL	$500,000	–	15,000	–	0.06%	–
VBTX	New	VERITEX HLDGS	$270,000	–	18,061	–	0.03%	–

Q4 2014

			Value		Shares		↓ Weighting
CSCO	Exit	CISCO SYSTEMS INC	$0	–	-7,500	–	-0.02%	–
SYMC	Exit	SYMANTECcall	$0	–	-25,000	–	-0.08%	–
PG	Exit	PROCTOR GAMBLE	$0	–	-7,500	–	-0.08%	–
PEP	Exit	PEPSICO INC	$0	–	-10,000	–	-0.12%	–
RKUS	Exit	RUCKUS WIRELESS	$0	–	-75,000	–	-0.13%	–
RDC	Exit	ROWAN COMPANIES LTD	$0	–	-40,000	–	-0.13%	–
ESV	Exit	ENSCO PLC NEW CLASS A ORD	$0	–	-25,000	–	-0.13%	–
CSCO	Exit	CISCO SYSTEMS INCcall	$0	–	-50,000	–	-0.16%	–
MU	Exit	MICRON TECHNOLOGYcall	$0	–	-40,000	–	-0.18%	–
CSTM	Exit	CONSTELLIUMcl a	$0	–	-60,000	–	-0.19%	–
PMT	Exit	PENNYMAC MTG INVT TR	$0	–	-70,000	–	-0.19%	–
ERIC	Exit	ERICSSONadr b sek 10	$0	–	-125,000	–	-0.20%	–
AVHI	Exit	AV HOMES INC	$0	–	-135,595	–	-0.25%	–
DDD	Exit	3D SYSTEMS CORPput	$0	–	-43,500	–	-0.26%	–
GE	Exit	GENERAL ELECTRIC	$0	–	-80,000	–	-0.26%	–
BANC	Exit	BANK OF CALIFORNIA INC	$0	–	-180,000	–	-0.27%	–
BSRR	Exit	SIERRA BANCORP	$0	–	-126,000	–	-0.27%	–
WAG	Exit	WALGREEN CO.	$0	–	-47,500	–	-0.36%	–
EBAY	Exit	EBAY INC	$0	–	-50,000	–	-0.36%	–
TMUS	Exit	T-MOBILE US INCcall	$0	–	-100,000	–	-0.37%	–
AAPL	Exit	APPLE COMPUTER INCcall	$0	–	-30,000	–	-0.39%	–
ELY	Exit	CALLAWAY GOLF CO	$0	–	-420,000	–	-0.39%	–
LAMR	Exit	LAMAR ADVERTISING CO.cl a	$0	–	-70,000	–	-0.44%	–
BPOP	Exit	POPULAR INC	$0	–	-130,000	–	-0.49%	–
IDCC	Exit	INTERDIGITAL INCcall	$0	–	-100,000	–	-0.51%	–
IMCB	Exit	INTERMOUNTAIN COMNTY BANCORP	$0	–	-260,000	–	-0.62%	–
NOVB	Exit	NORTH VALLEY BANCORP	$0	–	-228,895	–	-0.63%	–
GOOGL	Exit	GOOGLE INC CL Acall	$0	–	-10,000	–	-0.75%	–
TWX	Exit	TIME WARNER INC	$0	–	-80,000	–	-0.77%	–
FRBK	Exit	REPUBLIC FIRST BANCORP	$0	–	-1,550,000	–	-0.77%	–
ALLY	Exit	ALLY FINL INC	$0	–	-266,653	–	-0.79%	–
HVB	Exit	HUDSON VALLEY HLDG CO	$0	–	-400,000	–	-0.93%	–
TMUS	Exit	T-MOBILE US INC	$0	–	-259,700	–	-0.96%	–
DOW	Exit	DOW CHEM CO	$0	–	-166,500	–	-1.12%	–
CMAWS	Exit	WTS COMERICA EXP 11/14/18*w exp 11/14/2018	$0	–	-500,000	–	-1.32%	–
EBIX	Exit	EBIX INCput	$0	–	-820,600	–	-1.49%	–
FSGI	Exit	FIRST SECURITY GROUP INC	$0	–	-6,000,000	–	-1.52%	–
IL	Exit	INTRALINKS HLDG	$0	–	-1,560,491	–	-1.62%	–
CCK	Exit	CROWN HOLDINGS INC	$0	–	-290,000	–	-1.65%	–
IDCC	Exit	INTERDIGITAL INC	$0	–	-370,000	–	-1.88%	–
CCOI	Exit	COGENT COMMUNICATIONS HLDGS	$0	–	-439,853	–	-1.89%	–
IAC	Exit	IAC INTERACTIVECORP	$0	–	-233,096	–	-1.96%	–
BUD	Exit	ANHEUSER BUSCH CO.sponsored adr	$0	–	-147,000	–	-2.08%	–
IAC	Exit	IAC INTERACTIVECORPcall	$0	–	-250,000	–	-2.11%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-389,100	–	-2.31%	–
SFLY	Exit	SHUTTERFLY INCcall	$0	–	-374,100	–	-2.33%	–
AIG	Exit	AMERICAN INTL GROUP	$0	–	-339,600	–	-2.34%	–
C	Exit	CITIGROUP INC	$0	–	-354,700	–	-2.35%	–
MOVE	Exit	MOVE INC	$0	–	-1,495,840	–	-4.01%	–
SFLY	Exit	SHUTTERFLY INC	$0	–	-703,000	–	-4.38%	–
PEP	Exit	PEPSICO INCcall	$0	–	-493,300	–	-5.87%	–
IWM	Exit	ISHARESRUT2000put	$0	–	-1,040,000	–	-14.54%	–
SPY	Exit	S&P DEP.put	$0	–	-1,222,500	–	-30.79%	–

Q3 2014

			Value		Shares		↓ Weighting
SPY	Buy	S&P DEP.put	$240,856,950,000	+77.1%	1,222,500	+75.9%	30.79%	+38.8%
IWM	Buy	ISHARESRUT2000put	$113,724,000,000	-3.8%	1,040,000	+4.5%	14.54%	-24.6%
SFLY	Sell	SHUTTERFLY INC	$34,264,220,000	+11.4%	703,000	-1.6%	4.38%	-12.7%
MOVE	Sell	MOVE INC	$31,352,806,000	+38.6%	1,495,840	-2.2%	4.01%	+8.6%
C	Sell	CITIGROUP INC	$18,380,554,000	+8.4%	354,700	-1.5%	2.35%	-15.0%
SFLY	New	SHUTTERFLY INCcall	$18,233,634,000	–	374,100	–	2.33%	–
MSFT	Sell	MICROSOFT CORP	$18,038,676,000	-21.8%	389,100	-29.6%	2.31%	-38.7%
IAC	Buy	IAC INTERACTIVECORPcall	$16,475,000,000	+58.6%	250,000	+66.7%	2.11%	+24.3%
CCOI	Buy	COGENT COMMUNICATIONS HLDGS	$14,783,459,000	+434.9%	439,853	+449.8%	1.89%	+319.1%
IDCC	Buy	INTERDIGITAL INC	$14,733,400,000	-5.2%	370,000	+13.8%	1.88%	-25.7%
CCK	Buy	CROWN HOLDINGS INC	$12,910,800,000	-3.9%	290,000	+7.4%	1.65%	-24.7%
IL	Buy	INTRALINKS HLDG	$12,639,977,000	+6.0%	1,560,491	+16.3%	1.62%	-16.9%
EBIX	Buy	EBIX INCput	$11,636,108,000	+45.8%	820,600	+47.1%	1.49%	+14.3%
DOW	New	DOW CHEM CO	$8,731,260,000	–	166,500	–	1.12%	–
TMUS	Buy	T-MOBILE US INC	$7,497,540,000	+6.3%	259,700	+23.8%	0.96%	-16.7%
FRBK	Sell	REPUBLIC FIRST BANCORP	$6,029,500,000	-24.0%	1,550,000	-1.6%	0.77%	-40.5%
TWX	New	TIME WARNER INC	$6,016,800,000	–	80,000	–	0.77%	–
GOOGL	New	GOOGLE INC CL Acall	$5,884,100,000	–	10,000	–	0.75%	–
NOVB	Sell	NORTH VALLEY BANCORP	$4,939,554,000	-1.4%	228,895	-0.5%	0.63%	-22.8%
IDCC	New	INTERDIGITAL INCcall	$3,982,000,000	–	100,000	–	0.51%	–
BPOP	Sell	POPULAR INC	$3,826,552,000	-20.9%	130,000	-8.1%	0.49%	-38.0%
LAMR	Buy	LAMAR ADVERTISING CO.cl a	$3,447,500,000	+30.1%	70,000	+40.0%	0.44%	+2.1%
AAPL	Buy	APPLE COMPUTER INCcall	$3,022,500,000	+30.1%	30,000	+20.0%	0.39%	+1.8%
TMUS	New	T-MOBILE US INCcall	$2,887,000,000	–	100,000	–	0.37%	–
EBAY	Buy	EBAY INC	$2,831,500,000	+71.4%	50,000	+51.5%	0.36%	+34.6%
WAG	New	WALGREEN CO.	$2,815,325,000	–	47,500	–	0.36%	–
GE	New	GENERAL ELECTRIC	$2,049,600,000	–	80,000	–	0.26%	–
CSTM	Sell	CONSTELLIUMcl a	$1,476,600,000	-67.1%	60,000	-57.1%	0.19%	-74.2%
MU	Buy	MICRON TECHNOLOGYcall	$1,370,400,000	+38.6%	40,000	+33.3%	0.18%	+8.7%
ESV	New	ENSCO PLC NEW CLASS A ORD	$1,032,750,000	–	25,000	–	0.13%	–
RDC	New	ROWAN COMPANIES LTD	$1,012,400,000	–	40,000	–	0.13%	–
NX	Exit	QUANEX BUILDING PRODUCTS	$0	–	-10,131	–	-0.03%	–
ORCL	Exit	ORACLE CORPput	$0	–	-10,900	–	-0.07%	–
ORCL	Exit	ORACLE CORP	$0	–	-15,000	–	-0.10%	–
AMZN	Exit	AMAZON.COM	$0	–	-2,000	–	-0.11%	–
DWA	Exit	DREAMWORKS ANNIMATIONcl a	$0	–	-338,300	–	-1.28%	–

Q2 2014

			Value		Shares		↓ Weighting
SPY	New	S&P DEP.put	$136,025,400,000	–	695,000	–	22.19%	–
IWM	New	ISHARESRUT2000put	$118,215,950,000	–	995,000	–	19.28%	–
PEP	New	PEPSICO INCcall	$44,071,422,000	–	493,300	–	7.19%	–
SFLY	New	SHUTTERFLY INC	$30,766,370,000	–	714,500	–	5.02%	–
MSFT	New	MICROSOFT CORP	$23,060,100,000	–	553,000	–	3.76%	–
MOVE	New	MOVE INC	$22,628,863,000	–	1,530,011	–	3.69%	–
AIG	New	AMERICAN INTL GROUP	$18,535,368,000	–	339,600	–	3.02%	–
C	New	CITIGROUP INC	$16,956,000,000	–	360,000	–	2.77%	–
BUD	New	ANHEUSER BUSCH CO.sponsored adr	$16,896,180,000	–	147,000	–	2.76%	–
IAC	New	IAC INTERACTIVECORP	$16,137,236,000	–	233,096	–	2.63%	–
IDCC	New	INTERDIGITAL INC	$15,535,000,000	–	325,000	–	2.53%	–
CCK	New	CROWN HOLDINGS INC	$13,435,200,000	–	270,000	–	2.19%	–
FSGI	New	FIRST SECURITY GROUP INC	$13,020,000,000	–	6,000,000	–	2.12%	–
IL	New	INTRALINKS HLDG	$11,923,890,000	–	1,341,270	–	1.94%	–
CMAWS	New	WTS COMERICA EXP 11/14/18*w exp 11/14/2018	$10,530,000,000	–	500,000	–	1.72%	–
IAC	New	IAC INTERACTIVECORPcall	$10,384,500,000	–	150,000	–	1.69%	–
EBIX	New	EBIX INCput	$7,980,687,000	–	557,700	–	1.30%	–
FRBK	New	REPUBLIC FIRST BANCORP	$7,938,000,000	–	1,575,000	–	1.30%	–
DWA	New	DREAMWORKS ANNIMATIONcl a	$7,868,858,000	–	338,300	–	1.28%	–
HVB	New	HUDSON VALLEY HLDG CO	$7,220,000,000	–	400,000	–	1.18%	–
TMUS	New	T-MOBILE US INC	$7,050,114,000	–	209,700	–	1.15%	–
ALLY	New	ALLY FINL INC	$6,375,673,000	–	266,653	–	1.04%	–
NOVB	New	NORTH VALLEY BANCORP	$5,011,700,000	–	230,000	–	0.82%	–
BPOP	New	POPULAR INC	$4,836,470,000	–	141,500	–	0.79%	–
CSTM	New	CONSTELLIUMcl a	$4,488,400,000	–	140,000	–	0.73%	–
IMCB	New	INTERMOUNTAIN COMNTY BANCORP	$4,232,800,000	–	260,000	–	0.69%	–
ELY	New	CALLAWAY GOLF CO	$3,494,400,000	–	420,000	–	0.57%	–
CCOI	New	COGENT COMMUNICATIONS	$2,764,000,000	–	80,000	–	0.45%	–
LAMR	New	LAMAR ADVERTISING CO.cl a	$2,650,000,000	–	50,000	–	0.43%	–
DDD	New	3D SYSTEMS CORPput	$2,601,300,000	–	43,500	–	0.42%	–
AAPL	New	APPLE COMPUTER INCcall	$2,323,250,000	–	25,000	–	0.38%	–
AVHI	New	AV HOMES INC	$2,216,978,000	–	135,595	–	0.36%	–
BSRR	New	SIERRA BANCORP	$1,990,800,000	–	126,000	–	0.32%	–
BANC	New	BANK OF CALIFORNIA	$1,962,000,000	–	180,000	–	0.32%	–
EBAY	New	EBAY INC	$1,651,980,000	–	33,000	–	0.27%	–
PMT	New	PENNYMAC MTG INVT TR	$1,535,800,000	–	70,000	–	0.25%	–
ERIC	New	ERICSSONadr b sek 10	$1,510,000,000	–	125,000	–	0.25%	–
CSCO	New	CISCO SYSTEMS INCcall	$1,242,500,000	–	50,000	–	0.20%	–
MU	New	MICRON TECHNOLOGYcall	$988,500,000	–	30,000	–	0.16%	–
PEP	New	PEPSICO INC	$893,400,000	–	10,000	–	0.15%	–
RKUS	New	RUCKUS WIRELESS	$893,250,000	–	75,000	–	0.15%	–
AMZN	New	AMAZON.COM	$649,560,000	–	2,000	–	0.11%	–
ORCL	New	ORACLE CORP	$607,950,000	–	15,000	–	0.10%	–
PG	New	PROCTOR GAMBLE	$589,425,000	–	7,500	–	0.10%	–
SYMC	New	SYMANTECcall	$572,500,000	–	25,000	–	0.09%	–
ORCL	New	ORACLE CORPput	$441,777,000	–	10,900	–	0.07%	–
NX	New	QUANEX BUILDING PRODUCTS	$181,041,000	–	10,131	–	0.03%	–
CSCO	New	CISCO SYSTEMS INC	$186,375,000	–	7,500	–	0.03%	–

Q4 2013

			Value		Shares		↓ Weighting
GUID	Exit	GUIDANCE SOFTWARE	$0	–	-33,576	–	-0.04%	–
ORCL	Exit	ORACLE CORP	$0	–	-10,000	–	-0.04%	–
HAWK	Exit	BLACKHAWK NETWORK HLDGScl a	$0	–	-15,000	–	-0.05%	–
SYMC	Exit	SYMANTEC	$0	–	-15,000	–	-0.05%	–
CSCO	Exit	CISCO SYSTEMS INCput	$0	–	-17,500	–	-0.05%	–
CSCO	Exit	CISCO SYSTEMS INC	$0	–	-17,500	–	-0.05%	–
UNXLQ	Exit	UNI-PIXEL INC	$0	–	-25,000	–	-0.06%	–
AAPL	Exit	APPLE COMPUTER INC	$0	–	-1,000	–	-0.06%	–
PG	Exit	PROCTOR GAMBLE	$0	–	-7,500	–	-0.07%	–
SNDK	Exit	SANDISK	$0	–	-10,000	–	-0.08%	–
CKSW	Exit	CLICKSOFTWARE TECHNOLOGIESord	$0	–	-100,000	–	-0.08%	–
POT	Exit	POTASH CORP.	$0	–	-20,000	–	-0.08%	–
VRNT	Exit	VERINT SYSTEMS	$0	–	-20,000	–	-0.10%	–
TIVO	Exit	TIVO	$0	–	-60,000	–	-0.10%	–
BRCM	Exit	BROADCOM CORPcl a	$0	–	-30,000	–	-0.10%	–
BPFH	Exit	BOSTON PRIVATE FINCL	$0	–	-70,000	–	-0.10%	–
PEP	Exit	PEPSICO INC	$0	–	-10,000	–	-0.10%	–
AVHI	Exit	AV HOMES INC	$0	–	-54,749	–	-0.12%	–
AAPL	Exit	APPLE COMPUTER INCcall	$0	–	-2,500	–	-0.15%	–
PMT	Exit	PENNYMAC MORTGAGE	$0	–	-55,000	–	-0.16%	–
ELY	Exit	CALLAWAY GOLF CLUB	$0	–	-175,000	–	-0.16%	–
EMC	Exit	EMC CORP MASS	$0	–	-50,000	–	-0.16%	–
IL	Exit	INTRALINKS HLDG	$0	–	-149,190	–	-0.17%	–
CVC	Exit	CABLEVISION SYSTEMSput	$0	–	-80,000	–	-0.17%	–
XOM	Exit	EXXON MOBIL CORP.	$0	–	-17,500	–	-0.19%	–
ERIC	Exit	ERICSSONadr b sek 10	$0	–	-125,000	–	-0.22%	–
TMUS	Exit	T-MOBILE US INC	$0	–	-83,000	–	-0.28%	–
IMCB	Exit	INTERMOUNTAIN COMNTY BANCORP	$0	–	-221,568	–	-0.43%	–
NOVB	Exit	NORTH VALLEY BANCORP	$0	–	-230,000	–	-0.56%	–
MSFT	Exit	MICROSOFT CORPcall	$0	–	-140,000	–	-0.60%	–
VOD	Exit	VODAFONE GROUP PLCspons adr new	$0	–	-151,000	–	-0.68%	–
EBIX	Exit	EBIX INCput	$0	–	-575,000	–	-0.74%	–
HVB	Exit	HUDSON VALLEY HLDG CO	$0	–	-350,000	–	-0.84%	–
OUTR	Exit	OUTERWALL INC	$0	–	-135,000	–	-0.87%	–
CMAWS	Exit	WTS COMERICA EXP 11/14/18*w exp 11/14/2018	$0	–	-500,000	–	-0.89%	–
IDCC	Exit	INTERDIGITAL INC	$0	–	-192,001	–	-0.92%	–
MOS	Exit	MOSAICcall	$0	–	-189,500	–	-1.05%	–
FSGI	Exit	FIRST SECURITY GROUP INC	$0	–	-6,000,000	–	-1.60%	–
IAC	Exit	IAC INTERACTIVECORP	$0	–	-233,467	–	-1.64%	–
MOVE	Exit	MOVE INC	$0	–	-905,432	–	-1.97%	–
BUD	Exit	ANHEUSER BUSCH CO.sponsored adr	$0	–	-155,000	–	-1.98%	–
EXPE	Exit	EXPEDIA INC.	$0	–	-355,900	–	-2.37%	–
GOOGL	Exit	GOOGLEcall	$0	–	-22,500	–	-2.53%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-601,000	–	-2.57%	–
C	Exit	CITIGROUP INC	$0	–	-420,000	–	-2.62%	–
AIG	Exit	AMERICAN INTL GROUP	$0	–	-449,900	–	-2.81%	–
SFLY	Exit	SHUTTERFLY INC	$0	–	-481,500	–	-3.46%	–
PEP	Exit	PEPSICO INCcall	$0	–	-424,000	–	-4.33%	–
IWM	Exit	ISHARESRUT2000put	$0	–	-1,125,000	–	-15.42%	–
SPY	Exit	S&P DEPput	$0	–	-2,135,000	–	-46.11%	–

Q3 2013

			Value		Shares		↓ Weighting
SPY	Buy	S&P DEPput	$358,701,000	+23.2%	2,135,000	+17.6%	46.11%	-0.8%
IWM	Buy	ISHARESRUT2000put	$119,936,000	+71.7%	1,125,000	+56.2%	15.42%	+38.3%
PEP	New	PEPSICO INCcall	$33,708,000	–	424,000	–	4.33%	–
SFLY	Sell	SHUTTERFLY INC	$26,907,000	-22.6%	481,500	-22.5%	3.46%	-37.6%
AIG	Sell	AMERICAN INTL GROUP	$21,879,000	-26.4%	449,900	-32.3%	2.81%	-40.7%
MSFT	Sell	MICROSOFT CORP	$20,001,000	-18.3%	601,000	-15.2%	2.57%	-34.2%
GOOGL	New	GOOGLEcall	$19,708,000	–	22,500	–	2.53%	–
EXPE	Buy	EXPEDIA INC.	$18,439,000	+52.6%	355,900	+77.2%	2.37%	+22.9%
MOVE	Sell	MOVE INC	$15,357,000	+4.3%	905,432	-21.2%	1.97%	-16.0%
IAC	Buy	IAC INTERACTIVECORP	$12,764,000	+19.2%	233,467	+3.8%	1.64%	-4.0%
MOS	New	MOSAICcall	$8,152,000	–	189,500	–	1.05%	–
IDCC	Buy	INTERDIGITAL INC	$7,169,000	+5.6%	192,001	+26.3%	0.92%	-14.9%
OUTR	Buy	OUTERWALL INC	$6,754,000	+91.8%	135,000	+125.0%	0.87%	+54.4%
EBIX	Buy	EBIX INCput	$5,715,000	+393.5%	575,000	+360.0%	0.74%	+297.3%
VOD	Sell	VODAFONE GROUP PLCspons adr new	$5,312,000	-64.2%	151,000	-70.7%	0.68%	-71.2%
MSFT	New	MICROSOFT CORPcall	$4,659,000	–	140,000	–	0.60%	–
NOVB	Buy	NORTH VALLEY BANCORP	$4,347,000	+19.4%	230,000	+4.5%	0.56%	-3.8%
IMCB	Buy	INTERMOUNTAIN COMNTY BANCORP	$3,379,000	+55.8%	221,568	+34.3%	0.43%	+25.4%
TMUS	Sell	T-MOBILE US INC	$2,156,000	-71.6%	83,000	-72.8%	0.28%	-77.1%
ERIC	New	ERICSSONadr b sek 10	$1,669,000	–	125,000	–	0.22%	–
XOM	New	EXXON MOBIL CORP.	$1,506,000	–	17,500	–	0.19%	–
CVC	New	CABLEVISION SYSTEMSput	$1,348,000	–	80,000	–	0.17%	–
IL	Sell	INTRALINKS HLDG	$1,313,000	+1.9%	149,190	-16.0%	0.17%	-18.0%
PMT	New	PENNYMAC MORTGAGE	$1,248,000	–	55,000	–	0.16%	–
AAPL	New	APPLE COMPUTER INCcall	$1,192,000	–	2,500	–	0.15%	–
AVHI	Buy	AV HOMES INC	$956,000	+5.3%	54,749	+6.9%	0.12%	-15.2%
BRCM	Sell	BROADCOM CORPcl a	$780,000	-61.5%	30,000	-50.0%	0.10%	-69.1%
BPFH	Sell	BOSTON PRIVATE FINCL	$777,000	-47.9%	70,000	-50.0%	0.10%	-58.0%
TIVO	Sell	TIVO	$746,000	-10.0%	60,000	-20.0%	0.10%	-27.3%
POT	New	POTASH CORP.	$626,000	–	20,000	–	0.08%	–
CKSW	Sell	CLICKSOFTWARE TECHNOLOGIESord	$609,000	-43.8%	100,000	-23.1%	0.08%	-54.9%
SNDK	New	SANDISK	$595,000	–	10,000	–	0.08%	–
UNXLQ	New	UNI-PIXEL INC	$443,000	–	25,000	–	0.06%	–
CSCO	New	CISCO SYSTEMS INCput	$410,000	–	17,500	–	0.05%	–
SYMC	New	SYMANTEC	$371,000	–	15,000	–	0.05%	–
HAWK	New	BLACKHAWK NETWORK HLDGScl a	$360,000	–	15,000	–	0.05%	–
ORCL	Buy	ORACLE CORP	$332,000	+80.4%	10,000	+66.7%	0.04%	+48.3%
VOCS	Exit	VOCUS INC	$0	–	-10,190	–	-0.02%	–
LLY	Exit	ELI LILLY	$0	–	-5,000	–	-0.04%	–
NLY	Exit	ANNALY CAPITAL MGMT.	$0	–	-50,000	–	-0.10%	–
EBIX	Exit	EBIX INC	$0	–	-95,000	–	-0.14%	–
EBAY	Exit	EBAYcall	$0	–	-20,000	–	-0.16%	–
CMCSA	Exit	COMCAST CORP. CL Acl a	$0	–	-40,000	–	-0.27%	–
ROVI	Exit	ROVI CORP	$0	–	-80,000	–	-0.29%	–
QCOM	Exit	QUALCOMM INC	$0	–	-35,000	–	-0.34%	–
LLY	Exit	ELI LILLYcall	$0	–	-50,000	–	-0.39%	–
JNJ	Exit	JOHNSON & JOHNSON	$0	–	-175,000	–	-2.40%	–

Q2 2013

			Value		Shares		↓ Weighting
SPY	New	SPDR S&P 500 ETF TRput	$291,163,000	–	1,815,000	–	46.48%	–
IWM	New	ISHARESRUT2000put	$69,840,000	–	720,000	–	11.15%	–
SFLY	New	SHUTTERFLY INC	$34,748,000	–	621,500	–	5.55%	–
AIG	New	AMERICAN INTL GROUP	$29,726,000	–	665,000	–	4.74%	–
MSFT	New	MICROSOFT CORP	$24,475,000	–	708,500	–	3.91%	–
C	New	CITIGROUP INC	$20,147,000	–	420,000	–	3.22%	–
JNJ	New	JOHNSON & JOHNSON	$15,026,000	–	175,000	–	2.40%	–
VOD	New	VODAFONE GROUP PLCspons adr new	$14,833,000	–	516,000	–	2.37%	–
MOVE	New	MOVE INC	$14,729,000	–	1,148,935	–	2.35%	–
BUD	New	ANHEUSER BUSCH CO.sponsored adr	$13,990,000	–	155,000	–	2.23%	–
FSGI	New	FIRST SEC GROUP INC	$13,020,000	–	6,000,000	–	2.08%	–
EXPE	New	EXPEDIA INC.	$12,084,000	–	200,900	–	1.93%	–
IAC	New	IAC INTERACTIVECORP	$10,706,000	–	225,000	–	1.71%	–
TMUS	New	T-MOBILE US INC	$7,579,000	–	305,500	–	1.21%	–
CMAWS	New	WTS COMERICA EXP 11/14/18*w exp 11/14/2018	$6,850,000	–	500,000	–	1.09%	–
IDCC	New	INTERDIGITAL INC	$6,787,000	–	152,001	–	1.08%	–
HVB	New	HUDSON VALLEY HLDG CO	$5,943,000	–	350,000	–	0.95%	–
NOVB	New	NORTH VALLEY BANCORP	$3,641,000	–	220,000	–	0.58%	–
OUTR	New	OUTERWALL INC	$3,521,000	–	60,000	–	0.56%	–
LLY	New	ELI LILLYcall	$2,456,000	–	50,000	–	0.39%	–
IMCB	New	INTERMOUNTAIN COMNTY BANCORP	$2,169,000	–	165,000	–	0.35%	–
QCOM	New	QUALCOMM INC	$2,138,000	–	35,000	–	0.34%	–
BRCM	New	BROADCOM CORPcl a	$2,028,000	–	60,000	–	0.32%	–
ROVI	New	ROVI CORP	$1,827,000	–	80,000	–	0.29%	–
CMCSA	New	COMCAST CORP. CL Acl a	$1,670,000	–	40,000	–	0.27%	–
BPFH	New	BOSTON PRIVATE FINCL	$1,490,000	–	140,000	–	0.24%	–
IL	New	INTRALINKS HLDG	$1,289,000	–	177,570	–	0.21%	–
EMC	New	EMC CORP MASS	$1,181,000	–	50,000	–	0.19%	–
EBIX	New	EBIX INCput	$1,158,000	–	125,000	–	0.18%	–
ELY	New	CALLAWAY GOLF CLUB	$1,151,000	–	175,000	–	0.18%	–
CKSW	New	CLICKSOFTWARE TECHNOLOGIESord	$1,084,000	–	130,000	–	0.17%	–
EBAY	New	EBAYcall	$1,035,000	–	20,000	–	0.16%	–
AVHI	New	AV HOMES INC	$908,000	–	51,215	–	0.14%	–
EBIX	New	EBIX INC	$880,000	–	95,000	–	0.14%	–
TIVO	New	TIVO INC	$829,000	–	75,000	–	0.13%	–
PEP	New	PEPSICO INC	$818,000	–	10,000	–	0.13%	–
VRNT	New	VERINT SYSTEMS	$709,000	–	20,000	–	0.11%	–
NLY	New	ANNALY CAPITAL MGMT.	$629,000	–	50,000	–	0.10%	–
PG	New	PROCTOR GAMBLE	$577,000	–	7,500	–	0.09%	–
CSCO	New	CISCO SYSTEMS INC	$426,000	–	17,500	–	0.07%	–
AAPL	New	APPLE COMPUTER INC	$396,000	–	1,000	–	0.06%	–
GUID	New	GUIDANCE SOFTWARE	$294,000	–	33,576	–	0.05%	–
LLY	New	ELI LILLY	$245,000	–	5,000	–	0.04%	–
ORCL	New	ORACLE CORP	$184,000	–	6,000	–	0.03%	–
VOCS	New	VOCUS INC	$107,000	–	10,190	–	0.02%	–

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