13F-HR 1 sched13f-113q.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: September 30, 2011 ------------------ 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 -------------------------------------- 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 11/14/2011 ------------------------ --------------- -------------- [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: 60 -------------- Form 13F Information Table Value Total: $ 126,476 -------------- (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 ---------------------------------------------------------------------------------------------------------------------------------- ACORN ENERGY INC COM 004848107 307 58,000 SH SOLE 58,000 - - AFC ENTERPRISES INC COM 00104q107 4,365 368,965 SH SOLE 368,965 - - ALLIANCEBERNSTEIN INCOME FUN COM 01881E101 107 13,398 SH SOLE 13,398 - - AVATAR HLDGS INC COM 053494100 2,568 313,976 SH SOLE 313,976 - - BIGLARI HLDGS INC COM 08986r101 415 1,400 SH SOLE 1,400 - - CAL DIVE INTL INC DEL COM 12802t101 831 435,000 SH SOLE 435,000 - - COMFORT SYS USA INC COM 199908104 1,367 164,319 SH SOLE 164,319 - - CVR PARTNERS LP COM 126633106 348 14,800 SH SOLE 14,800 - - DOUGLAS DYNAMICS INC COM 25960r105 4,585 358,787 SH SOLE 358,787 - - ECHO GLOBAL LOGISTICS INC COM 27875t101 4,933 370,896 SH SOLE 370,896 - - GENERAL AMERN INVS INC COM 368802104 475 20,670 SH SOLE 20,670 - - GOLFSMITH INTL HOLDINGS INC COM 38168y103 1,307 407,024 SH SOLE 407,024 - - HAWAIIAN TELCOM HOLDCO INC COM 420031106 2,814 201,900 SH SOLE 201,900 - - HOOPER HOLMES INC COM 439104100 1,623 2,459,558 SH SOLE 2,459,558 - - IKANOS COMMUNICATIONS COM 45173e105 1,317 1,531,827 SH SOLE 1,531,827 - - KENNEDY-WILSON HLDGS INC COM 489398107 392 37,000 SH SOLE 37,000 - - KRISPY KREME DOUGHNUTS INC COM 501014104 2,796 410,022 SH SOLE 410,022 - - LECROY CORP COM 52324w109 3,088 390,858 SH SOLE 390,858 - - LEMAITRE VASCULAR INC COM 525558201 1,740 279,686 SH SOLE 279,686 - - LIMONEIRA CO COM 532746104 1,068 74,812 SH SOLE 74,812 - - MAGNUM HUNTER RES CORP DEL COM 55973b102 3,486 1,053,197 SH SOLE 1,053,197 - - MEDLEY CAP CORP COM 58503f106 555 55,050 SH SOLE 55,050 - - MOCON INC COM 607494101 1,660 105,467 SH SOLE 105,467 - - NATUS MEDICAL INC DEL COM 639050103 4,658 489,786 SH SOLE 489,786 - - NEW YORK & CO INC COM 649295102 3,930 1,231,972 SH SOLE 1,231,972 - - ONEIDA FINL CORP MD COM 682479100 505 56,500 SH SOLE 56,500 - - ONLINE RES CORP COM 68273g101 2,692 1,055,781 SH SOLE 1,055,781 - - PC-TEL INC COM 69325q105 2,780 452,063 SH SOLE 452,063 - - PEERLESS SYS CORP COM 705536100 160 43,970 SH SOLE 43,970 - - PEP BOYS MANNY MOE & JACK COM 713278109 6,086 616,590 SH SOLE 616,590 - - PERVASIVE SOFTWARE INC COM 715710109 1,202 200,383 SH SOLE 200,383 - - REIS INC COM 75936p105 3,982 449,478 SH SOLE 449,478 - - RICHARDSON ELECTRS LTD COM 763165107 5,993 440,336 SH SOLE 440,336 - - ROLLINS INC COM 775711104 3,190 170,500 SH SOLE 170,500 - - SABRA HEALTH CARE REIT INC COM 78573l106 375 39,300 SH SOLE 39,300 - - SHORETEL INC COM 825211105 1,949 391,383 SH SOLE 391,383 - - SPARK NETWORKS INC COM 84651p100 1,270 403,153 SH SOLE 403,153 - - STANDARD REGISTER CO COM 853887107 3,367 1,331,004 SH SOLE 1,331,004 - - STONERIDGE INC COM 86183p102 1,018 195,000 SH SOLE 195,000 - - SUN HEALTHCARE GROUP INC NEW COM 86677E100 4,141 1,533,866 SH SOLE 1,533,866 - - THERAGENICS CORP COM 883375107 1,938 1,446,121 SH SOLE 1,446,121 - - VIRTUS INVT PARTNERS INC COM 92828q109 1,973 36,800 SH SOLE 36,800 - - W P CAREY & CO LLC COM 92930y107 557 15,300 SH SOLE 15,300 - - QUANTUM CORP COM DSSG 747906204 4,104 2,267,313 SH SOLE 2,267,313 - - HANGER ORTHOPEDIC GROUP INC COM NEW 41043f208 4,156 220,000 SH SOLE 220,000 - - MULTIBAND CORP COM NEW 62544x209 2,060 837,394 SH SOLE 837,394 - - OUTDOOR CHANNEL HLDGS INC COM NEW 690027206 1,442 252,025 SH SOLE 252,025 - - POINTS INTL LTD COM NEW 730843208 1,574 160,438 SH SOLE 160,438 - - BERKSHIRE HATHAWAY INC DEL CL A 084670108 2,243 21 SH SOLE 21 - - CRAWFORD & CO CL A 224633206 42 11,199 SH SOLE 11,199 - - LEAPFROG ENTERPRISES INC CL A 52186n106 4,324 1,283,187 SH SOLE 1,283,187 - - MAXLINEAR INC CL A 57776j100 5,317 823,011 SH SOLE 823,011 - - TELECOMMUNICATION SYS INC CL A 87929j103 1,097 317,963 SH SOLE 317,963 - - VALUEVISION MEDIA INC CL A 92047k107 2,393 1,013,804 SH SOLE 1,013,804 - - LECROY CORP NOTE 4% 52324wab5 1,476 1,495,000 SH SOLE 1,495,000 - - AVATAR HLDGS INC NOTE7.5% 053494ag5 1,237 1,300,000 SH SOLE 1,300,000 - - CONCUR TECHNOLOGIES INC PUT 206708959 19 210 SH SOLE 210 - - HARBIN ELECTRIC INC PUT 41145w959 913 2,200 SH SOLE 2,200 - - PITNEY BOWES INC PUT 724479950 91 850 SH SOLE 850 - - SS&C TECHNOLOGIES HLDGS INC PUT 78467j100 75 1,000 SH SOLE 1,000 - -