13F-HR 1 form13f-hr.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, 2012 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: /s/ Michael F. Price New York, NY 10/14/12 --------------------- ------------- -------- [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: 1 -- Form 13F Information Table Entry Total: 99 -- Form 13F Information Table Value Total: $679,879 ----------- (thousands) List of Other Included Managers: 1 MFP Investors LLC

INVEST- MENT OTHER VOTING AUTHORITY TITLE OF VALUE SHRS OR SH/ PUT/ DISCRE- MANA- ----------------------- NAME OF ISSUER CLASS CUSIP (x$1000) PRN AMT PRN CALL TION GERS SOLE SHARED NONE --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- TYCO International Ltd. SHS H89128104 5,696 101,250 SH SOLE 1 101,250 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- ALCO Stores Inc. COM 001600105 1,849 264,919 SH SOLE 1 264,919 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Agilent Technologies Inc. COM 00846U101 3,853 100,200 SH SOLE 1 100,200 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Alleghany Corp. COM 017175100 30,370 88,044 SH SOLE 1 88,044 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Allscripts Healthcare Solutn COM 01988P108 5,589 450,000 SH SOLE 1 450,000 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- American River Bankshares COM 029326105 1,938 255,000 SH SOLE 1 255,000 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- SH BEN BRT Realty Trust INT NEW 055645303 1,094 168,369 SH SOLE 1 168,369 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- The Bancorp Bank COM 05969F104 2,465 240,000 SH SOLE 1 240,000 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Bank of America Corporation COM 060505104 1,254 142,027 SH SOLE 142,027 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Barnes & Noble Inc. COM 067774109 10,352 810,000 SH SOLE 1 810,000 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Becton, Dickinson & Co. COM 075887109 19,051 242,500 SH SOLE 1 242,500 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Big 5 Sporting Goods Corp. COM 08915P101 3,534 353,414 SH SOLE 1 353,414 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Big Lots, Inc. COM 089302103 1,479 50,000 SH SOLE 1 50,000 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Boeing Co. COM 097023105 1,392 20,000 SH SOLE 20,000 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Boston Scientific Corp. COM 101137107 8,610 1,500,000 SH SOLE 1 1,500,000 --------------------------- ---------- ---------- -------- --------- ------- ------- ----- --------- Bridgepoint Ed Inc. COM 10807M105 2,785 274,390 SH SOLE 1 274,390 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- CIT Group Inc. COM NEW 125581801 11,325 287,500 SH SOLE 1 287,500 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- CNO Financial Group Inc. COM 12621E103 925 95,894 SH SOLE 95,894 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Cache, Inc. COM NEW 127150308 7,030 2,203,749 SH SOLE 1 2,203,749 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Cape Bancorp Inc. COM 139209100 1,994 213,000 SH SOLE 1 213,000 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Capitol Federal Financial Inc. COM 14057J101 220 23,149 SH SOLE 1 23,149 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Castle A M & Co. COM 148411101 3,625 290,237 SH SOLE 1 290,237 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Citigroup Inc. COM NEW 172967101 26,224 801,454 SH SOLE 1 801,454 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Clearwater Paper Corp. COM 18538R103 2,922 70,739 SH SOLE 1 70,739 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Clifton Savings Bancorp, Inc. COM 18712Q103 550 50,000 SH SOLE 1 50,000 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Colfax Corp. COM 194014106 4,400 120,000 SH SOLE 1 120,000 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- ConocoPhillips COM 20825C104 19,813 346,500 SH SOLE 1 346,500 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Cott Corp Que COM 22163N106 8,126 1,028,545 SH SOLE 1 1,028,545 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Courier Corporation COM 222660102 428 35,000 SH SOLE 1 35,000 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Cubist Pharmaceuticals Inc. COM 229678107 8,703 182,500 SH SOLE 1 182,500 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Dell Inc. COM 24702R101 2,365 240,000 SH SOLE 1 240,000 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Education Management Corp COM 28140M103 550 177,000 SH SOLE 1 177,000 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Elan plc ADR 284131208 9,648 900,000 SH SOLE 1 900,000 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Enzon Pharmaceuticals Inc. COM 293904108 5,255 755,000 SH SOLE 1 755,000 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Exelis Inc COM 30162A108 1,065 103,000 SH SOLE 103,000 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Exxon Mobil Corp. COM 30231G102 1,097 12,000 SH SOLE 12,000 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Farmer Bros Co. COM 307675108 3,203 336,833 SH SOLE 1 336,833 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Forest City Enterprises Inc. CL A 345550107 15,850 1,000,000 SH SOLE 1 1,000,000 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Franklin Financial Corp VA COM 35353C102 12,177 713,798 SH SOLE 1 713,798 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- GAMCO Investors Inc. COM 361438104 3,592 72,200 SH SOLE 1 72,200 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Gencorp Inc. COM 368682100 7,248 763,794 SH SOLE 1 763,794 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- General Electric Co. COM 369604103 1,703 75,000 SH SOLE 75,000 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Getty Realty Corp. COM 374297109 1,280 71,318 SH SOLE 1 71,318 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Goldman Sachs Group Inc. COM 38141G104 4,547 40,000 SH SOLE 1 40,000 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Great Florida Bk Miami Lakes Fla CL A 390528107 10 28,469 SH SOLE 28,469 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- GulfMark Offshore, Inc. CL A NEW 402629208 19,867 601,300 SH SOLE 1 601,300 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Gyrodyne Co. America Inc. COM 403820103 4,629 42,610 SH SOLE 1 42,610 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Hardinge, Inc. COM 412324303 3,438 335,368 SH SOLE 1 335,368 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Harris Corp Del COM 413875105 16,647 325,000 SH SOLE 1 325,000 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Heritage Commerce Corp. COM 426927109 8,883 1,280,000 SH SOLE 1 1,280,000 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Heritage Oaks Bancorp COM 42724R107 6,719 1,166,575 SH SOLE 1 1,166,575 --------------------------- ---------- ---------- -------- --------- ------- ------- ----- --------- Hewlett Packard Co COM 428236103 13,904 815,000 SH SOLE 1 815,000 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Hilltop Holdings, Inc. COM 432748101 3,782 297,600 SH SOLE 1 297,600 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- HomeTrust Bancshares, Inc. COM 437872104 7,294 550,470 SH SOLE 1 550,470 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Hospira Inc. COM 441060100 7,795 237,500 SH SOLE 1 237,500 --------------------------- ---------- ---------- -------- --------- ------- ------- ----- --------- Hudson City Bancorp COM 443683107 6,482 815,800 SH SOLE 1 815,800 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- UNIT BEN Hugoton RTY TR TEX INT 444717102 231 35,000 SH SOLE 35,000 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Huntsman Corp. COM 447011107 5,673 380,000 SH SOLE 1 380,000 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- ITT Corp New COM NEW 450911201 5,190 257,550 SH SOLE 1 257,550 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Intel Corp. COM 458140100 37,267 1,645,000 SH SOLE 1 1,645,000 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Investors Bancorp Inc. COM 46146P102 1,824 100,000 SH SOLE 1 100,000 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Janus Capital Group Inc. COM 47102X105 3,444 364,800 SH SOLE 1 364,800 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Johnson & Johnson COM 478160104 3,101 45,000 SH SOLE 45,000 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Johnson Outdoors Inc. CL A 479167108 7,888 368,781 SH SOLE 1 368,781 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- COM PAR Kaiser Aluminum Corp. $0.01 483007704 17,751 304,002 SH SOLE 1 304,002 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Kemper Corp. Del COM 488401100 1,904 62,000 SH SOLE 1 62,000 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- LHC Group Inc COM 50187A107 1,339 72,500 SH SOLE 1 72,500 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Lakes Entertainment, Inc. COM 51206P109 164 76,767 SH SOLE 1 76,767 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- MVC Capital Inc. COM 553829102 2,109 164,800 SH SOLE 1 164,800 --------------------------- ---------- ---------- -------- --------- ------- ------- ----- --------- McGraw Hill Companies Inc. COM 580645109 27,295 500,000 SH SOLE 1 500,000 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Mercer International Inc. COM 588056101 389 52,200 SH SOLE 1 52,200 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- MIPS Technologies, Inc. COM 604567107 1,478 200,000 SH SOLE 1 200,000 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- National Presto Industries, Inc. COM 637215104 7,064 96,924 SH SOLE 1 96,924 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Nexen Inc. COM 65334H102 3,041 120,000 SH SOLE 1 120,000 --------------------------- ---------- ---------- -------- --------- ------- ------- ----- --------- Northeast Bancorp COM NEW 663904209 2,725 286,800 SH SOLE 1 286,800 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Old Republic Intl Corp. COM 680223104 196 21,093 SH SOLE 21,093 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- OmniAmerican Bancorp Inc COM 68216R107 6,819 300,000 SH SOLE 1 300,000 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- One Liberty Properties Inc COM 682406103 2,907 155,876 SH SOLE 1 155,876 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Penny JC Inc. COM 708160106 19,432 800,000 SH SOLE 1 800,000 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Pfizer Inc. COM 717081103 16,329 657,100 SH SOLE 1 657,100 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Phillips 66 COM 718546104 2,481 53,500 SH SOLE 53,500 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Prudential Bancorp Inc. PA COM 744319104 562 95,200 SH SOLE 1 95,200 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Quanex Building Products COM 747619104 1,765 93,709 SH SOLE 1 93,709 --------------------------- ---------- ---------- -------- --------- ------- ------- ----- --------- Resolute Forest Products Inc. COM 76117W109 5,655 435,000 SH SOLE 1 435,000 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Spon Royal Dutch Shell PLC ADR A 780259206 1,040 14,979 SH SOLE 14,979 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Ruths Hospitality Group Inc. COM 783332109 14,014 2,193,267 SH SOLE 1 2,193,267 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Safeguard Scientifics, Inc. COM NEW 786449207 1,710 109,006 SH SOLE 1 109,006 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- RIGHT Sanofi 12/31/2020 80105N113 7,392 4,400,000 SH SOLE 1 4,400,000 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- SeaChange Intl Inc. COM 811699107 1,978 252,000 SH SOLE 1 252,000 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Seacor Holdings Inc. COM 811904101 917 11,000 SH SOLE 1 11,000 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- CL A SUB Smart Technologies Inc VTG 83172R108 1,018 624,400 SH SOLE 1 624,400 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Symetra Financial Corp. COM 87151Q106 22,017 1,790,000 SH SOLE 1 1,790,000 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Tejon Ranch Co. COM 879080109 15,678 521,900 SH SOLE 1 521,900 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Teva Pharmaceutical Inds Ltd. ADR 881624209 4,141 100,000 SH SOLE 1 100,000 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Ubiquiti Networks, Inc. COM 90347A100 86 7,235 SH SOLE 7,235 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Verifone Systems Inc. COM 92342Y109 5,152 185,000 SH SOLE 1 185,000 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- West Coast Bancorp Ore. New COM 952145100 38,442 1,707,000 SH SOLE 1 1,707,000 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Wright Medical Group Inc. COM 98235T107 11,055 500,000 SH SOLE 1 500,000 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ---- Xylem Inc. COM 98419M100 2,590 103,000 SH SOLE 103,000 --------------------------- ---------- ---------- -------- --------- ------- ---- ------- ----- --------- ------ ----