13F-HR 1 rapidan13fhr111309.txt FORM 13F-HR - RAPIDAN CAPITAL, LLC UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F Report for the Calendar Year or Quarter Ended: September 30, 2009 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: Rapidan Capital, LLC Address: 510 Thornall Street, Suite 320 Edison, NJ 08837 Form 13F File Number: 28-11846 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 the 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: David L. Berkowitz Title: Managing Member Phone: 732.632.8835 Signature, Place, and Date of Signing: /s/ David L. Berkowitz Edison, NJ 11/13/09 ---------------------- ------------- ------------ [Signature] [City, State] [Date] Report Type: [X] 13F HOLDINGS REPORT [ ] 13F NOTICE [ ] 13F COMBINATION REPORT Form 13F SUMMARY PAGE REPORT SUMMARY Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 64 Form 13F Information Table Value Total: $74,036 (in thousands) List of Other Included Managers: None

Rapidan Capital, LLC 13F-HR