13F-HR 1 q408.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: December 31, 2008 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: Private Capital Management, L.P. Address: 8889 Pelican Bay Blvd. Suite 500 Naples, FL 34108 13F File Number: 28-3428 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: Victor Fernandez Title: Chief Compliance Officer Phone: 239-254-2500 Signature, Place, and Date of Signing: Victor Fernandez Naples, Florida February 13, 2009 Report Type (Check only one.): [ X] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT. List of Other Managers Reporting for this Manager: I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934. FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 1 Form 13F Information Table Entry Total: 90 Form 13F Information Table Value Total: $2,420,863 (thousands) List of Other Included Managers: No. 13F File Number Name 1 28-1700 Legg Mason, Inc. FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- ASTA Funding COM 046220109 3287 1208443 SH DEFINED 01 1208443 Ameriprise Finl Inc. COM 03076C106 1930 82600 SH DEFINED 01 82600 Ameristar Casinos Inc. COM 03070Q101 13285 1537630 SH DEFINED 01 1537630 AutoNation Inc. COM 05329W102 45609 4616286 SH DEFINED 01 10800 4605486 Avatar Holdings Inc. COM 053494100 17370 654979 SH DEFINED 01 44800 610179 Avid Technology Inc. COM 05367P100 30576 2802530 SH DEFINED 01 16300 2786230 Bank of Hawaii Corp. COM 062540109 54652 1209929 SH DEFINED 01 9400 1200529 Berkshire Hills Bancorp Inc. COM 084680107 5140 166555 SH DEFINED 01 166555 Bio-Rad Laboratories Inc. CL A COM 090572207 7767 103133 SH DEFINED 01 103133 Boyd Gaming Corp. COM 103304101 24044 5083219 SH DEFINED 01 54400 5028819 Broadridge Financial Solutions COM 11133T103 2822 225075 SH DEFINED 01 225075 Brookline Bancorp Inc. COM 11373M107 7110 667623 SH DEFINED 01 667623 CA Inc. COM 12673P105 236085 12740697 SH DEFINED 01 1022066 11718631 Capital City Bank Group Inc. COM 139674105 19570 718418 SH DEFINED 01 718418 Center Bancorp Inc. COM 151408101 2713 331689 SH DEFINED 01 331689 Centrue Financial Corp. New COM 15643B106 274 44335 SH DEFINED 01 44335 Citizens First Bancorp Inc. COM 17461R106 787 374796 SH DEFINED 01 374796 Cymer Inc COM 232572107 19166 874763 SH DEFINED 01 7300 867463 Datascope Corp. COM 238113104 17349 332106 SH DEFINED 01 33200 298906 Diamonds Trust - Unit Series 1 COM 252787106 1707 19500 SH DEFINED 01 19500 Dover Downs Gaming & Entmt. COM 260095104 6033 1897100 SH DEFINED 01 101500 1795600 Dundee Corp. CL A COM 264901109 28439 5719870 SH DEFINED 01 537900 5181970 Eastman Kodak Co. COM 277461109 56831 8636968 SH DEFINED 01 483900 8153068 Electro Rent Corp. COM 285218103 19598 1756095 SH DEFINED 01 1027724 728371 Electro Scientific Industries COM 285229100 1577 232239 SH DEFINED 01 7500 224739 Electronics for Imaging Inc. COM 286082102 4791 501196 SH DEFINED 01 393200 107996 Elmira Savings Bank FSB COM 289660102 387 28648 SH DEFINED 01 28648 First Citizens Bancshares Inc. COM 31946M103 16418 107448 SH DEFINED 01 107448 First Defiance Financial Corp. COM 32006W106 1423 184152 SH DEFINED 01 184152 First Financial Holdings Inc. COM 320239106 7715 381161 SH DEFINED 01 6200 374961 Forest City Enterprises Inc. C COM 345550107 6662 994300 SH DEFINED 01 994300 Fulton Financial Corp. COM 360271100 21341 2218348 SH DEFINED 01 10800 2207548 GAMCO Investors Inc. COM 361438104 1765 64600 SH DEFINED 01 64600 Glacier Bancorp Inc. COM 37637Q105 23183 1218882 SH DEFINED 01 1218882 Health Management Assoc. Inc. COM 421933102 19365 10818542 SH DEFINED 01 532700 10285842 Hearst-Argyle Television Inc. COM 422317107 46808 7724125 SH DEFINED 01 293200 7430925 Hewlett-Packard Co. COM 428236103 199606 5500303 SH DEFINED 01 458300 5042003 IShares S&P 500 Value COM 464287408 258 5700 SH DEFINED 01 5700 Imation Corp. COM 45245A107 18188 1340295 SH DEFINED 01 190300 1149995 Independent Bank Corp.-MA COM 453836108 11188 427675 SH DEFINED 01 11200 416475 International Business Machine COM 459200101 15224 180894 SH DEFINED 01 180894 International Game Technology COM 459902102 106069 8920897 SH DEFINED 01 235493 8685404 John Wiley & Sons Inc. CL A COM 968223206 115947 3258757 SH DEFINED 01 75700 3183057 MGM Mirage COM 552953101 76823 5583073 SH DEFINED 01 326299 5256774 Marcus Corp. COM 566330106 43264 2665657 SH DEFINED 01 53487 2612170 Mentor Graphics Corp. COM 587200106 33193 6420375 SH DEFINED 01 809100 5611275 MicroStrategy Inc COM 594972408 1567 42200 SH DEFINED 01 42200 Mine Safety Appliances Co. COM 602720104 30532 1276960 SH DEFINED 01 98300 1178660 Motorola Inc. COM 620076109 66477 15006044 SH DEFINED 01 403000 14603044 MutualFirst Financial Inc. COM 62845B104 1117 165488 SH DEFINED 01 165488 Newport Corp. COM 651824104 14190 2092881 SH DEFINED 01 53800 2039081 Northern Trust Corp. COM 665859104 103070 1976785 SH DEFINED 01 1700 1975085 Novellus Systems Inc. COM 670008101 63512 5146828 SH DEFINED 01 420600 4726228 OceanFirst Financial Corp. COM 675234108 2527 152233 SH DEFINED 01 4300 147933 Oppenheimer Holdings Inc. COM 683797104 12706 986527 SH DEFINED 01 129304 857223 Pope Resources LP COM 732857107 12556 627787 SH DEFINED 01 303461 324326 Powershares Exchange Traded Fu COM 73935x682 250 25000 SH DEFINED 01 25000 Progress Software Corp. COM 743312100 11670 605901 SH DEFINED 01 605901 Provident New York Bancorp COM 744028101 3813 307490 SH DEFINED 01 307490 Qualcomm Inc. COM 747525103 26349 735376 SH DEFINED 01 172000 563376 Quantum Corp. COM 747906204 11471 31862832 SH DEFINED 01 9492200 22370632 Quest Software COM 74834T103 3890 309000 SH DEFINED 01 309000 Raymond James Financial Inc. COM 754730109 84964 4959932 SH DEFINED 01 71237 4888695 Royal Caribbean Cruises Ltd COM V7780T103 116009 8436992 SH DEFINED 01 203700 8233292 Russell 2000 Value Index I sha COM 464287630 273 5550 SH DEFINED 01 5550 Russell 3000 Index I Shares COM 464287689 3099 59600 SH DEFINED 01 59600 Seacoast Banking Corp. of Flor COM 811707306 4944 749084 SH DEFINED 01 8200 740884 Sotheby's COM 835898107 43824 4929547 SH DEFINED 01 33400 4896147 Sprint Nextel Corporation COM 852061100 38669 21130389 SH DEFINED 01 865500 20264889 Standard & Poor's Depositary R COM 78462f103 2676 29650 SH DEFINED 01 29650 Sterling Financial Corp. COM 859319105 18247 2073519 SH DEFINED 01 2073519 Suffolk Bancorp COM 864739107 13555 377275 SH DEFINED 01 71887 305388 Sun Bancorp Inc.-NJ COM 86663B102 4460 595494 SH DEFINED 01 42673 552821 Symantec Corp. COM 871503108 126816 9379864 SH DEFINED 01 779744 8600120 TF Financial Corp. COM 872391107 1606 83192 SH DEFINED 01 83192 Tibco Software Inc. COM 88632Q103 33305 6417148 SH DEFINED 01 514000 5903148 TierOne Corp. COM 88650R108 4272 1139127 SH DEFINED 01 10000 1129127 Triumph Group Inc. COM 896818101 20203 475821 SH DEFINED 01 61300 414521 Universal Health Services Inc. COM 913903100 49548 1318820 SH DEFINED 01 31700 1287120 WSFS Financial Corp. COM 929328102 10095 210348 SH DEFINED 01 210348 West Pharmaceutical Services I COM 955306105 15518 410853 SH DEFINED 01 21200 389653 Whitney Holding Corp. COM 966612103 31435 1965929 SH DEFINED 01 115299 1850630 Windstream Corp. COM 97381W104 37968 4126977 SH DEFINED 01 253632 3873345