13F-HR 1 sched13f-091q.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: March 31, 2009 ------------------ Check here if Amendment [ ]; Amendment Number: --------- This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: J. Carlo Cannell -------------------------------------- Address: P.O. Box 3459 -------------------------------------- 240 E. Deloney Ave. -------------------------------------- Jackson, WY 83001 -------------------------------------- Form 13F File Number: 28- 6453 ----- The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: J. Carlo Cannell ------------------------------ Title: Managing Member ------------------------------ Phone: 415-835-8300 ------------------------------ Signature, Place, and Date of Signing: /s/ J. Carlo Cannell Jackson, WY 04/30/2009 ------------------------ --------------- -------------- [Signature] [City, State] [Date] Report Type (Check only one.): [X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 -------------- Form 13F Information Table Entry Total: 79 -------------- Form 13F Information Table Value Total: $ 182,254 -------------- (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. [If there are no entries in this list, state "NONE" and omit the column headings and list entries.] NONE
---------------------------------------------------------------------------------------------------------------------------------- COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ---------------------------------------------------------------------------------------------------------------------------------- TITLE OF VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ---------------------------------------------------------------------------------------------------------------------------------- VALUEVISION MEDIA INC CMN CLAS CL A 92047k107 774 1,105,623 SH SOLE 1,105,623 - - ACME UNITED CORP CMN COM 4816104 1,864 244,684 SH SOLE 244,684 - - ACTUATE CORPORATION COMMON STO COM 00508b102 966 315,771 SH SOLE 315,771 - - ALTRA HOLDINGS, INC. CMN COM 02208r106 2,250 580,000 SH SOLE 580,000 - - ANIMAL HEALTH INTERNATIONAL IN COM 03525n109 1,270 1,000,000 SH SOLE 1,000,000 - - BADGER METER INC CMN COM 56525108 1,262 43,700 SH SOLE 43,700 - - DARLING INTERNATIONAL INC CMN COM 237266101 4,248 1,145,000 SH SOLE 1,145,000 - - DELTEK INC CMN COM 24784l105 4,221 974,736 SH SOLE 974,736 - - DOLAN MEDIA COMPANY CMN COM 25659p402 1,873 238,047 SH SOLE 238,047 - - DRUGSTORE.COM INC CMN COM 262241102 5,609 4,793,700 SH SOLE 4,793,700 - - DWS MUNICIPAL INCOME TRUST MUT COM 23338m106 503 54,634 SH SOLE 54,634 - - EASTERN INS HLDGS INC CMN COM 276534104 2,035 261,900 SH SOLE 261,900 - - EDGEWATER TECHNOLOGY INC CMN COM 280358102 1,112 399,935 SH SOLE 399,935 - - ENNIS INC CMN COM 293389102 1,707 192,635 SH SOLE 192,635 - - FIRST FINANCIAL NORTHWEST INC COM 32022k102 8,566 1,027,124 SH SOLE 1,027,124 - - ICO INC (NEW) CMN COM 449293109 3,414 1,657,494 SH SOLE 1,657,494 - - KEY ENERGY SERVICES INC CMN COM 492914106 1,782 618,800 SH SOLE 618,800 - - KHD HUMBOLDT WEDAG INTL LTD CM COM 482462108 3,619 523,742 SH SOLE 523,742 - - MEDIWARE INFORMATION SYS INC C COM 584946107 2,346 558,658 SH SOLE 558,658 - - MERCER INS GROUP INC CMN COM 587902107 1,682 117,655 SH SOLE 117,655 - - MERIDIAN INTERSTATE BANCORP, I COM 58964q104 1,600 190,049 SH SOLE 190,049 - - MET-PRO CORPORATION CMN COM 590876306 2,898 355,547 SH SOLE 355,547 - - MFRI INC CMN COM 552721102 1,318 208,947 SH SOLE 208,947 - - MOCON INC CMN COM 607494101 752 91,650 SH SOLE 91,650 - - MVC CAPITAL INC CLOSED END FUN COM 553829102 9,514 1,131,283 SH SOLE 1,131,283 - - NATIONAL DENTEX CORP CMN COM 63563h109 564 146,404 SH SOLE 146,404 - - NATURAL GAS SERVICES GROUP, IN COM 63886q109 1,463 162,541 SH SOLE 162,541 - - NGAS RESOURCES, INC. CMN COM 62912t103 2,654 2,193,596 SH SOLE 2,193,596 - - NORTH AMERICAN ENERGY PARTNERS COM 656844107 1,727 566,379 SH SOLE 566,379 - - NUVEEN INSD PREM INCOME MUN FD COM 6706d8104 139 13,300 SH SOLE 13,300 - - NUVEEN MUN ADVANTAGE FUND INC COM 67062h106 682 57,817 SH SOLE 57,817 - - NUVEEN PREMIUM INCOME MUNICIPA COM 67062t100 598 52,321 SH SOLE 52,321 - - NUVEEN PREMIUM INCOME MUNICIPA COM 6706k4105 107 10,700 SH SOLE 10,700 - - NUVEEN QUALITY INCOME MUNICIPA COM 670977107 446 37,610 SH SOLE 37,610 - - PC-TEL INC CMN COM 69325q105 3,734 868,300 SH SOLE 868,300 - - PETRO RES CORP CMN COM 71646k106 825 3,300,000 SH SOLE 3,300,000 - - QUADRAMED CORPORATION CMN COM 74730w507 3,377 559,080 SH SOLE 559,080 - - SALARY.COM, INC. CMN COM 794006106 1,599 1,142,183 SH SOLE 1,142,183 - - SCHMITT INDS INC ORE CMN COM 806870200 317 114,430 SH SOLE 114,430 - - SEABRIGHT INSURANCE HLDG INC C COM 811656107 7,717 737,721 SH SOLE 737,721 - - SOLUTIA INC. CMN COM 834376501 1,168 624,800 SH SOLE 624,800 - - SUPERIOR ENERGY SERVICES INC C COM 868157108 4,976 386,000 SH SOLE 386,000 - - T-3 ENERGY SERVICES INC CMN COM 87306E107 1,961 166,500 SH SOLE 166,500 - - TESCO CORPORATION CMN COM 88157k101 6,803 870,000 SH SOLE 870,000 - - THOMPSON CREEK METALS COMPANY COM 884768102 4,536 1,142,550 SH SOLE 1,142,550 - - U.S. CONCRETE INC CMN COM 90333l102 3,343 1,671,635 SH SOLE 1,671,635 - - VAALCO ENERGY, INC. CMN COM 91851c201 6,024 1,138,813 SH SOLE 1,138,813 - - AQUA AMERICA INC CMN COM 03836w103 400 20,000 SH SOLE 20,000 - - ASHLAND INC. CMN COM 44209104 1,486 143,900 SH SOLE 143,900 - - CLEAN HARBORS INC CMN COM 184496107 744 15,500 SH SOLE 15,500 - - COLFAX CORPORATION CMN COM 194014106 486 70,800 SH SOLE 70,800 - - FLOW INTERNATIONAL CORP CMN COM 343468104 188 115,800 SH SOLE 115,800 - - GRAFTECH INTERNATIONAL LTD CMN COM 384313102 2,211 358,918 SH SOLE 358,918 - - HERCULES TECH GR CAP INC. CMN COM 427096508 79 15,700 SH SOLE 15,700 - - KADANT INCORPORATED CMN COM 48282t104 147 12,800 SH SOLE 12,800 - - KEY TECHNOLOGY INC CMN COM 493143101 39 4,400 SH SOLE 4,400 - - LINDSAY CORPORATION CMN COM 535555106 397 14,700 SH SOLE 14,700 - - NATUS MEDICAL INC DEL CMN COM 639050103 1,831 215,200 SH SOLE 215,200 - - REX ENERGY CORPORATION CMN COM 761565100 801 279,000 SH SOLE 279,000 - - ROLLINS INC. CMN COM 775711104 5,148 300,201 SH SOLE 300,201 - - TESSCO TECHNOLOGIES INC CMN COM 872386107 91 11,716 SH SOLE 11,716 - - ALLOY INC CMN COM NEW 19855303 3,669 873,542 SH SOLE 873,542 - - GENTEK INC CMN COM NEW 37245x203 466 26,640 SH SOLE 26,640 - - INSWEB CORPORATION CMN COM NEW 45809k202 442 211,535 SH SOLE 211,535 - - OPLINK COMMUNICATIONS INC CMN COM NEW 68375q403 2,472 320,998 SH SOLE 320,998 - - PRG-SCHULTZ INTERNATIONAL, INC COM NEW 69357c503 610 214,700 SH SOLE 214,700 - - MUELLER WATER PRODUCTS, INC. C COM S A 624758108 788 238,800 SH SOLE 238,800 - - ENCORE ENERGY PARTNERS LP CMN COM UNT 29257a106 201 14,100 SH SOLE 14,100 - - MAGMA DESIGN AUTOMATION, INC. NOTE 559181ac6 5,625 9,000,000 PRN SOLE 9,000,000 - - KEMET CORPORATION 2.25% 11/15/ NOTE 488360ab4 1,260 9,000,000 PRN SOLE 9,000,000 - - LITHIA MOTORS INC 2.875% 05/01 NOTE 536797ab9 10,613 10,720,000 PRN SOLE 10,720,000 - - HERCULES OFFSHORE, INC. 144A 0 NOTE 427093aa7 1,519 5,000,000 PRN SOLE 5,000,000 - - ENCORE CAPITAL GROUP INC 3.375 NOTE 292554ab8 4,563 5,850,000 PRN SOLE 5,850,000 - - FUNDTECH LTD CMN ORD m47095100 12,183 1,429,921 SH SOLE 1,429,921 - - BLUEPHOENIX SOLUTIONS LTD CMN SHS m20157109 1,309 681,560 SH SOLE 681,560 - - LINN ENERGY, LLC CMN UNITS REP UNIT 536020100 158 10,600 SH SOLE 10,600 - - HILAND PARTNERS, LP CMN LTD 431291103 88 10,900 SH SOLE 10,900 - - WTS/BARZEL INDUSTRIES INC 5.50 *W EXP 69744118 50 999,700 SH SOLE 999,700 - - WTS/OWENS CORNING INC. 45.2500 *W EXP 690742127 242 503,622 SH SOLE 503,622 - -