13F-HR 1 form13f-hr.txt 13F HOLDINGS REPORT UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: September 30, 2010 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: Michael F. Price Address: c/o MFP Investors LLC 667 Madison Ave. 25th Floor New York, New York 10065 13F File Number: 28-13081 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Michael F. Price Title: Investment Manager Phone: (212) 752-7280 Signature, Place, and Date of Signing: Michael F. Price New York, NY 11/12/10 ---------------- ------------- -------- [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)). 2 FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 1 - Form 13F Information Table Entry Total: 114 --- Form 13F Information Table Value Total: $503,678 ----------- (thousands) List of Other Included Managers: 1 MFP Investors LLC 5
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 ---------------------------- ----------- --------- -------- --------- --- ---- ---------- -------- --------- ------ ---- Allied World Assur Hldg Ltd. SHS G0219G203 3,333 58,893 SH SOLE 1 58,893 Enstar Group Ltd. SHS G3075P101 4,541 62,550 SH SOLE 1 62,550 Ingersoll-Rand PLC SHS G47791101 14,142 396,034 SH SOLE 1 396,034 Alcon Inc. COM SHS H01301102 6,438 38,600 SH SOLE 1 38,600 TYCO International Ltd. SHS H89128104 1,148 31,250 SH SOLE 31,250 BP PLC PUT 55622954 1 100,000 SH PUT SOLE 1 100,000 A.C. Moore Arts & Crafts Inc. COM 00086T103 315 138,700 SH SOLE 1 138,700 Abington Community Bancorp Inc. COM 00350L109 2,108 200,000 SH SOLE 1 200,000 American River Bankshares COM 029326105 785 125,000 SH SOLE 1 125,000 Arkansas Best Corp. COM 040790107 6,608 272,720 SH SOLE 1 272,720 SH BEN BRT Realty Trust INT NEW 055645303 985 154,129 SH SOLE 1 154,129 Bank of America Corporation COM 060505104 10,912 832,800 SH SOLE 1 832,800 Becton, Dickinson & Co. COM 075887109 12,227 165,000 SH SOLE 1 165,000 W.R. Berkley Corp. COM 084423102 271 10,000 SH SOLE 1 10,000 Berkshire Hathaway Inc. CL A 084670108 6,599 53 SH SOLE 1 53 Boeing Co. COM 097023105 1,331 20,000 SH SOLE 20,000 Builders FirstSource Inc. COM 12008R107 377 165,222 SH SOLE 1 165,222 CNO Financial Group Inc. COM 12621E103 11,760 2,122,814 SH SOLE 1 2,122,814 Cache, Inc. COM NEW 127150308 9,183 1,800,512 SH SOLE 1 1,800,512 Cape Bancorp Inc. COM 139209100 1,619 213,000 SH SOLE 1 213,000 DBCV CapitalSource Inc. 3.50% 7/1 14055XAD4 2,970 3,000,000 PRN SOLE 1 3,000,000 DBCV CapitalSource Inc. 4.00% 7/2 14055XAE2 4,950 5,000,000 PRN SOLE 1 5,000,000 DBCV CapitalSource Inc. 7.25% 7/3 14055XAG7 7,824 7,873,000 PRN SOLE 1 7,873,000 CapitalSource Inc. COM 14055X102 4,159 778,800 SH SOLE 1 778,800 Charming Shoppes, Inc. COM 161133103 1,154 327,900 SH SOLE 1 327,900 Chubb Corp. COM 171232101 3,989 70,000 SH SOLE 1 70,000 Citigroup Inc. COM 172967101 19,550 5,000,000 SH SOLE 1 5,000,000 Coca-Cola Enterprises Inc. COM 191219104 10,773 347,500 SH SOLE 1 347,500 Compass Minerals Intl Inc. COM 20451N101 1,916 25,000 SH SOLE 1 25,000 ConocoPhillips COM 20825C104 19,899 346,500 SH SOLE 1 346,500 Covanta Holding Corp COM 22282E102 1,575 100,000 SH SOLE 1 100,000 Cowen Group Inc NEW CL A 223622101 1,490 452,772 SH SOLE 1 452,772 Destination Maternity Corp. COM 25065D100 9,876 300,000 SH SOLE 1 300,000 Dow Chemical Co. COM 260543103 3,224 117,400 SH SOLE 1 117,400 Duckwall-Alco Stores, Inc. COM 264142100 3,420 264,919 SH SOLE 1 264,919 Earthlink Inc. COM 270321102 185 20,359 SH SOLE 20,359 Ebay Inc. COM 278642103 3,555 145,700 SH SOLE 1 145,700 Encore Cap Group Inc COM 292554102 4,827 267,854 SH SOLE 1 267,854 Enzon Pharmaceuticals Inc. COM 293904108 6,380 567,524 SH SOLE 1 567,524 Exxon Mobil Corp. COM 30231G102 741 12,000 SH SOLE 12,000 Farmer Bros Co. COM 307675108 3,711 231,949 SH SOLE 1 231,949 First Savings Finl Group Inc COM 33621E109 1,067 81,561 SH SOLE 1 81,561 Forest City Enterprises Inc. CL A 345550107 12,481 972,800 SH SOLE 1 972,800 Fox Chase Bancorp Inc. COM 35137T108 1,230 130,000 SH SOLE 1 130,000 GAMCO Investors Inc. COM 361438104 3,013 78,200 SH SOLE 1 78,200 Gencorp Inc. COM 368682100 3,758 763,794 SH SOLE 1 763,794 Genzyme Corporation COM 372917104 10,682 150,900 SH SOLE 1 150,900 Getty Realty Corp. COM 374297109 972 36,218 SH SOLE 36,218 Global Industries Ltd. COM 379336100 1,006 183,900 SH SOLE 1 183,900 Goldman Sachs and Company COM 38141G104 5,783 40,000 SH SOLE 1 40,000 Goodrich Corp. COM 382388106 3,023 41,000 SH SOLE 1 41,000 Granite Construction Inc COM 387328107 3,841 168,913 SH SOLE 1 168,913 Great Florida Bk Miami Lakes Fla CL A 390528107 13 28,469 SH SOLE 28,469 GulfMark Offshore, Inc. CL A NEW 402629208 16,961 552,100 SH SOLE 1 552,100 Gyrodyne Co. America Inc. COM 403820103 713 9,291 SH SOLE 1 9,291 Harris Corp Del COM 413875105 5,979 135,000 SH SOLE 1 135,000 Heckmann Corp. COM 422680108 2,277 583,970 SH SOLE 1 583,970 Heritage Commerce Corp. COM 426927109 4,480 1,280,000 SH SOLE 1 1,280,000 Heritage Oaks Bancorp COM 42724R107 3,847 1,165,846 SH SOLE 1 1,165,846 Herley Inds Inc. COM 427398102 3,561 215,827 SH SOLE 1 215,827 Hilltop Holdings, Inc. COM 432748101 2,851 297,600 SH SOLE 1 297,600 Huntsman Corp. COM 447011107 4,624 400,000 SH SOLE 1 400,000 Huron Consulting Group Inc. COM 447462102 6,107 277,700 SH SOLE 1 277,700 John Bean Technologies Corp. COM 477839104 4,146 257,331 SH SOLE 1 257,331 Johnson & Johnson COM 478160104 2,788 45,000 SH SOLE 45,000 Johnson Outdoors Inc. CL A 479167108 4,880 380,666 SH SOLE 1 380,666 COM PAR Kaiser Aluminum Corp. $0.01 483007704 12,957 302,800 SH SOLE 1 302,800 LSB Industries Inc. COM 502160104 587 31,610 SH SOLE 1 31,610 Louisiana Bancorp Inc New COM 54619P104 294 20,836 SH SOLE 1 20,836 M & F Worldwide Corp. COM 552541104 2,325 95,500 SH SOLE 1 95,500 MVC Capital Inc. COM 553829102 2,158 166,400 SH SOLE 1 166,400 Malvern Federal Bancorp, Inc. COM 561410101 1,346 199,700 SH SOLE 1 199,700 Mariner Energy Inc. COM 56845T305 2,423 100,000 SH SOLE 1 100,000 Marlin Business Services Corp. COM 571157106 6,389 532,449 SH SOLE 1 532,449 McAfee Inc. COM 579064106 3,781 80,000 SH SOLE 1 80,000 McGraw Hill Companies Inc. COM 580645109 14,712 445,000 SH SOLE 1 445,000 Miller Inds Inc Tenn COM NEW 600551204 3,840 283,826 SH SOLE 1 283,826 National Fuel Gas Co N J COM 636180101 5,114 98,700 SH SOLE 1 98,700 Newell Rubbermaid Inc. COM 651229106 4,274 240,000 SH SOLE 1 240,000 O'Charleys Inc. COM 670823103 4,676 650,335 SH SOLE 1 650,335 Old Republic Intl Corp. COM 680223104 292 21,093 SH SOLE 21,093 OmniAmerican Bancorp Inc COM 68216R107 3,381 300,000 SH SOLE 1 300,000 One Liberty Properties Inc COM 682406103 1,930 121,312 SH SOLE 1 121,312 Palomar Medical Technologies, Inc. COM NEW 697529303 1,159 112,182 SH SOLE 1 112,182 Peapack-Gladstone Financial Corp. COM 704699107 63 5,329 SH SOLE 5,329 Pfizer Inc. COM 717081103 2,182 127,100 SH SOLE 127,100 Presidential Life Corp. COM 740884101 1,575 160,700 SH SOLE 1 160,700 Primoris Services Corp. COM 74164F103 2,744 419,500 SH SOLE 1 419,500 Prudential Bancorp Inc. PA COM 744319104 714 95,200 SH SOLE 1 95,200 QLT Inc. COM 746927102 842 133,893 SH SOLE 1 133,893 RBC Bearings Inc COM 75524B104 2,090 61,499 SH SOLE 1 61,499 Rowan Companies, Inc. COM 779382100 9,669 318,485 SH SOLE 1 318,485 Royal Dutch Shell PLC Spon ADR A 780259206 920 14,800 SH SOLE 14,800 Ruths Hospitality Group Inc. COM 783332109 10,228 2,550,602 SH SOLE 1 2,550,602 S L Industries Inc. COM 784413106 70 4,964 SH SOLE 4,964 SLM Corp. COM 78442P106 1,897 164,300 SH SOLE 1 164,300 Safeguard Scientifics, Inc. COM NEW 786449207 3,954 315,525 SH SOLE 1 315,525 SeaChange Intl Inc. COM 811699107 639 86,300 SH SOLE 1 86,300 Sears Holdings Corp. COM 812350106 6,719 93,138 SH SOLE 93,138 Somerset Hills Bancorp COM 834728107 200 24,785 SH SOLE 1 24,785 Symetra Financial Corp. COM 87151Q106 18,723 1,790,000 SH SOLE 1 1,790,000 Syms Corp. COM 871551107 1,642 215,487 SH SOLE 1 215,487 Synta Pharmaceuticals Corp. COM 87162T206 491 123,058 SH SOLE 1 123,058 TFS Financial Corp. COM 87240R107 1,287 140,000 SH SOLE 1 140,000 Tejon Ranch Co. COM 879080109 8,760 404,243 SH SOLE 1 404,243 Transatlantic Hldgs Inc COM 893521104 4,162 81,900 SH SOLE 1 81,900 United Therapeutics Corp COM 91307C102 5,360 95,700 SH SOLE 1 95,700 Unitrin Inc. COM 913275103 3,537 145,000 SH SOLE 1 145,000 Verifone Systems Inc. COM 92342Y109 1,554 50,000 SH SOLE 1 50,000 Verisk Analytics Inc. CL A 92345Y106 280 10,000 SH SOLE 10,000 COM PAR WHX Corp. $.01 NEW 929248607 236 28,188 SH SOLE 28,188 Warwick Valley Tel Co COM 936750108 149 10,568 SH SOLE 1 10,568 Washington Post Co CL B 939640108 959 2,400 SH SOLE 1 2,400 West Coast Bancorp Ore. New COM 952145100 19,460 8,535,000 SH SOLE 1 8,535,000 ---------------------------- ----------- --------- -------- --------- --- ---- ---------- -------- --------- ------ ----