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: June 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: 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 8/12/11 -------------------- ------------- ------- [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: 109 --- Form 13F Information Table Value Total: $689,078 -------- (thousands) List of Other Included Managers: 1 MFP Investors LLC

INVEST- MENT OTHER VOTING AUTHORITY VALUE SHRS OR SH/ PUT/ DISCRE- MANA- --------------------- NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRNAMT PRN CALL TION GERS SOLE SHARED NONE --------------------------------- ----------------- ---------- -------- ---------- ----- ----- ------- ------ --------- ------ ---- Enstar Group Ltd. SHS G3075P101 1,724 16,500 SH SOLE 1 16,500 TYCO International Ltd. SHS H89128104 1,545 31,250 SH SOLE 31,250 A.C. Moore Arts & Crafts Inc. COM 00086T103 347 138,700 SH SOLE 1 138,700 American International Group, Inc. COM NEW 026874784 2,932 100,000 SH SOLE 1 100,000 American River Bankshares COM 029326105 842 138,218 SH SOLE 1 138,218 Arkansas Best Corp. COM 040790107 6,472 272,720 SH SOLE 1 272,720 BRT Realty Trust SH BEN INT NEW 055645303 985 156,129 SH SOLE 1 156,129 The Bancorp Bank COM 05969F104 2,090 200,000 SH SOLE 1 200,000 Bank of America Corporation COM 060505104 9,229 842,027 SH SOLE 1 842,027 Becton, Dickinson & Co. COM 075887109 20,681 240,000 SH SOLE 1 240,000 Big 5 Sporting Goods Corp. COM 08915P101 2,050 260,818 SH SOLE 1 260,818 Boeing Co. COM 097023105 1,479 20,000 SH SOLE 20,000 Brocade Communications Sys Inc. COM NEW 111621306 3,230 500,000 SH SOLE 1 500,000 Bucyrus International Inc. COM 118759109 2,292 25,000 SH SOLE 1 25,000 Build-a-Bear Workshop, Inc. COM 120076104 226 34,697 SH SOLE 34,697 CIT Group Inc. COM NEW 125581801 7,967 180,000 SH SOLE 1 180,000 CNO Financial Group Inc. COM 12621E103 16,791 2,122,814 SH SOLE 1 2,122,814 Cache, Inc. COM NEW 127150308 10,864 2,203,749 SH SOLE 1 2,203,749 Cape Bancorp Inc. COM 139209100 2,130 213,000 SH SOLE 1 213,000 CapitalSource Inc. COM 14055X102 5,575 864,304 SH SOLE 1 864,304 Capitol Federal Financial Inc. COM 14057J101 3,528 300,000 SH SOLE 1 300,000 Charming Shoppes, Inc. COM 161133103 7,646 1,837,900 SH SOLE 1 1,837,900 Chubb Corp. COM 171232101 2,504 40,000 SH SOLE 1 40,000 Citigroup Inc. COM 172967101 33,789 811,454 SH SOLE 1 811,454 ConocoPhillips COM 20825C104 26,053 346,500 SH SOLE 1 346,500 Cott Corp COM 22163N106 12,164 1,446,403 SH SOLE 1 1,446,403 Courier Corporation COM 222660102 298 27,003 SH SOLE 1 27,003 Cubist Pharmaceuticals Inc. COM 229678107 3,784 105,145 SH SOLE 1 105,145 Destination Maternity Corp. COM 25065D100 7,505 375,643 SH SOLE 1 375,643 Duckwall-Alco Stores, Inc. COM 264142100 2,808 264,919 SH SOLE 1 264,919 EXCO Resources Inc. COM 269279402 8,614 488,060 SH SOLE 1 488,060 Earthlink Inc. COM 270321102 157 20,359 SH SOLE 20,359 Ebay Inc. COM 278642103 2,120 65,700 SH SOLE 1 65,700 El Paso Corporation COM 28336L109 8,080 400,000 SH SOLE 1 400,000 Elan plc ADR 284131208 11,370 1,000,000 SH SOLE 1 1,000,000 Enzon Pharmaceuticals Inc. COM 293904108 7,035 700,000 SH SOLE 1 700,000 Exxon Mobil Corp. COM 30231G102 977 12,000 SH SOLE 12,000 Farmer Bros Co. COM 307675108 2,669 263,209 SH SOLE 1 263,209 Forest City Enterprises Inc. CL A 345550107 18,162 972,800 SH SOLE 1 972,800 Fox Chase Bancorp Inc. COM 35137T108 2,171 160,200 SH SOLE 1 160,200 Franklin Financial Corp COM 35353C102 7,236 600,000 SH SOLE 1 600,000 GAMCO Investors Inc. COM 361438104 3,620 78,200 SH SOLE 1 78,200 Gencorp Inc. COM 368682100 4,904 763,794 SH SOLE 1 763,794 Getty Realty Corp. COM 374297109 914 36,218 SH SOLE 36,218 Goldman Sachs and Company COM 38141G104 7,320 55,000 SH SOLE 1 55,000 Granite Construction Inc COM 387328107 4,271 174,113 SH SOLE 1 174,113 Great Florida Bk Miami Lakes Fla CL A 390528107 8 28,469 SH SOLE 28,469 GulfMark Offshore, Inc. CL A NEW 402629208 26,728 604,851 SH SOLE 1 604,851 Gyrodyne Co. America Inc. COM 403820103 2,259 33,216 SH SOLE 1 33,216 Hardinge, Inc. COM 412324303 546 50,000 SH SOLE 1 50,000 Harris Corp Del COM 413875105 12,441 276,100 SH SOLE 1 276,100 Heritage Commerce Corp. COM 426927109 6,541 1,280,000 SH SOLE 1 1,280,000 Heritage Oaks Bancorp COM 42724R107 4,435 1,167,046 SH SOLE 1 1,167,046 Hilltop Holdings, Inc. COM 432748101 2,631 297,600 SH SOLE 1 297,600 Hudson City Bancorp COM 443683107 4,095 500,000 SH SOLE 1 500,000 Huntsman Corp. COM 447011107 7,163 380,000 SH SOLE 1 380,000 ITT Corporation New COM 450911102 36,973 627,400 SH SOLE 1 627,400 Janus Capital Group Inc. COM 47102X105 3,776 400,000 SH SOLE 1 400,000 John Bean Technologies Corp. COM 477839104 4,792 257,331 SH SOLE 1 257,331 Johnson & Johnson COM 478160104 2,993 45,000 SH SOLE 45,000 Johnson Outdoors Inc. CL A 479167108 6,517 380,666 SH SOLE 1 380,666 Kaiser Aluminum Corp. COM PAR $0.01 483007704 16,539 302,800 SH SOLE 1 302,800 KeyCorp New COM 493267108 2,916 350,000 SH SOLE 1 350,000 Lubrizol Corp COM 549271104 3,061 22,800 SH SOLE 1 22,800 M & F Worldwide Corp. COM 552541104 1,545 59,800 SH SOLE 1 59,800 MVC Capital Inc. COM 553829102 2,201 166,400 SH SOLE 1 166,400 Malvern Federal Bancorp, Inc. COM 561410101 1,548 199,700 SH SOLE 1 199,700 Marlin Business Services Corp. COM 571157106 6,735 532,449 SH SOLE 1 532,449 McGraw Hill Companies Inc. COM 580645109 18,650 445,000 SH SOLE 1 445,000 Miller Inds Inc Tenn COM NEW 600551204 3,222 172,389 SH SOLE 1 172,389 National Fuel Gas Co N J COM 636180101 7,185 98,700 SH SOLE 1 98,700 National Semiconductor Corp COM 637640103 861 35,000 SH SOLE 1 35,000 Newell Rubbermaid Inc. COM 651229106 3,787 240,000 SH SOLE 1 240,000 Novartis AG ADR Spon ADR 66987V109 8,859 144,969 SH SOLE 1 144,969 Old Republic Intl Corp. COM 680223104 248 21,093 SH SOLE 21,093 OmniAmerican Bancorp Inc COM 68216R107 4,491 300,000 SH SOLE 1 300,000 One Liberty Properties Inc COM 682406103 2,291 148,376 SH SOLE 1 148,376 Oritani Financial Corp. COM 68633D103 1,279 100,000 SH SOLE 1 100,000 Palomar Medical Technologies,Inc. COM NEW 697529303 1,727 153,106 SH SOLE 1 153,106 Peapack-Gladstone Financial Corp. COM 704699107 63 5,329 SH SOLE 5,329 Penny JC Inc. COM 708160106 25,905 750,000 SH SOLE 1 750,000 Pfizer Inc. COM 717081103 8,798 427,100 SH SOLE 1 427,100 Presidential Life Corp. COM 740884101 1,678 160,700 SH SOLE 1 160,700 Prudential Bancorp Inc. PA COM 744319104 547 95,200 SH SOLE 1 95,200 RBC Bearings Inc COM 75524B104 851 22,544 SH SOLE 1 22,544 Resources Connection Inc COM 76122Q105 361 30,000 SH SOLE 1 30,000 Richardson Electronics Ltd. COM 763165107 1,133 83,346 SH SOLE 1 83,346 Rowan Companies, Inc. COM 779382100 12,259 315,860 SH SOLE 1 315,860 Royal Dutch Shell PLC Spon ADR A 780259206 1,053 14,800 SH SOLE 14,800 Ruths Hospitality Group Inc. COM 783332109 14,328 2,553,977 SH SOLE 1 2,553,977 S L Industries Inc. COM 784413106 117 4,964 SH SOLE 4,964 Safeguard Scientifics, Inc. COM NEW 786449207 5,910 313,025 SH SOLE 1 313,025 Sanofi RIGHT 12/31/2020 80105N113 4,820 2,000,000 SH SOLE 1 2,000,000 SeaChange Intl Inc. COM 811699107 2,717 252,000 SH SOLE 1 252,000 Sears Holdings Corp. COM 812350106 6,654 93,138 SH SOLE 93,138 Sunoco Inc. COM 86764P109 839 20,107 SH SOLE 1 20,107 Symetra Financial Corp. COM 87151Q106 24,040 1,790,000 SH SOLE 1 1,790,000 Syms Corp. COM 871551107 3,412 316,494 SH SOLE 1 316,494 Tejon Ranch Co. COM 879080109 10,895 319,500 SH SOLE 1 319,500 Transatlantic Hldgs Inc COM 893521104 4,295 87,635 SH SOLE 1 87,635 United Therapeutics Corp COM 91307C102 689 12,500 SH SOLE 1 12,500 Unitrin Inc. COM 913275103 4,302 145,000 SH SOLE 1 145,000 Verifone Systems Inc. COM 92342Y109 11,975 270,000 SH SOLE 1 270,000 Verisk Analytics Inc. CL A 92345Y106 346 10,000 SH SOLE 10,000 Visteon Corporation COM NEW 92839U206 1,710 25,000 SH SOLE 1 25,000 West Coast Bancorp Ore. New COM 952145100 28,609 1,707,000 SH SOLE 1 1,707,000 Wilshire Bancorp COM 97186T108 2,352 800,000 SH SOLE 1 800,000 Wright Medical Group Inc. COM 98235T107 8,723 581,518 SH SOLE 1 581,518 Yahoo Inc COM 984332106 1,504 100,000 SH SOLE 1 100,000