The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
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COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ABBVIE INC. CMN COM 00287Y109 3,553 60,700 SH   SOLE   60,700 0 0
AGNICO EAGLE MINES LTD CMN COM 008474108 2,545 91,080 SH   SOLE   91,080 0 0
ALPHA PRO TECH LTD CMN COM 020772109 8 3,600 SH   SOLE   3,600 0 0
AMERCO CMN COM 023586100 330 1,000 SH   SOLE   1,000 0 0
AMERICAN CAPITAL AGENCY CORP. CMN COM 02503X105 213 10,000 SH   SOLE   10,000 0 0
ARES COMMERCIAL REAL ESTATE CO CMN COM 04013V108 768 69,472 SH   SOLE   69,472 0 0
ARROW ELECTRONICS INC. CMN COM 042735100 454 7,426 SH   SOLE   7,426 0 0
BANK OF AMERICA CORP CMN COM 060505104 2,309 150,000 SH   SOLE   150,000 0 0
WTS/BANK OF AMERICA CORP 13.3000 EXP01/16/2019 WTS 060505146 587 100,000 SH Call SOLE   100,000 0 0
BERKSHIRE HATHAWAY INC CL-A (DEL) CLASS A COM 084670108 8,048 37 SH   SOLE   37 0 0
BLACKSTONE MORTGAGE TRUST INC CMN COM 09257W100 6,976 245,882 SH   SOLE   245,882 0 0
BOULDER GROWTH & INCOME FD INC MUTUAL FUND COM 101507101 608 70,906 SH   SOLE   70,906 0 0
CU BANCORP CMN COM 126534106 168 7,397 SH   SOLE   7,397 0 0
CVS HEALTH CORP CMN COM 126650100 1,032 10,000 SH   SOLE   10,000 0 0
CAPSTEAD MORTGAGE CORPORATION CMN COM 14067E506 118 10,000 SH   SOLE   10,000 0 0
CASH AMER INTL INC CMN COM 14754D100 233 10,000 SH   SOLE   10,000 0 0
CENTRAL SECURITIES CORP. MUTUAL FUND COM 155123102 129 5,900 SH   SOLE   5,900 0 0
CIVEO CORP CMN COM 178787107 3 1,000 SH   SOLE   1,000 0 0
CONTINENTAL MATERIALS CORP CMN COM 211615307 86 4,771 SH   SOLE   4,771 0 0
DOVER DOWNS GAMING & ENTMT INC CMN COM 260095104 19 16,157 SH   SOLE   16,157 0 0
ECLIPSE RESOURCES CORPORATION CMN COM 27890G100 6 1,000 SH   SOLE   1,000 0 0
ELLINGTON RESIDENTIAL MORT REIT CMN COM 288578107 1,412 86,225 SH   SOLE   86,225 0 0
ENOVA INTERNATIONAL, INC. CMN COM 29357K103 180 9,150 SH   SOLE   9,150 0 0
E Z CORP INC CL-A NON VTG CMN CLASS A COM 302301106 1,404 153,796 SH   SOLE   153,796 0 0
FEDERATED NATL HLDG CO CMN COM 31422T101 1,527 49,900 SH   SOLE   49,900 0 0
FIRST CMNTY CORP S C CMN COM 319835104 225 19,301 SH   SOLE   19,301 0 0
FORTRESS INVESTMENT GROUP LLC CMN CLASS A COM 34958B106 2,219 274,982 SH   SOLE   274,982 0 0
GENVEC INC CMN COM 37246C307 35 11,800 SH   SOLE   11,800 0 0
GIBRALTAR INDUSTRIES INC CMN COM 374689107 627 38,233 SH   SOLE   38,233 0 0
GOLUB CAPITAL BDC LLC CMN COM 38173M102 1,325 75,527 SH   SOLE   75,527 0 0
GROUP 1 AUTOMOTIVE, INC. CMN COM 398905109 863 10,000 SH   SOLE   10,000 0 0
GUARANTY FEDERAL BANCSHARES INC COM 40108P101 72 5,000 SH   SOLE   5,000 0 0
HARVARD BIOSCIENCE INC CMN COM 416906105 36 6,200 SH   SOLE   6,200 0 0
HERCULES TECHNOLOGY GROWTH CAPITAL, INC. COM 427096508 13 1,000 SH   SOLE   1,000 0 0
HISTOGENICS CORP CMN COM 43358V109 10 1,000 SH   SOLE   1,000 0 0
HUDSON GLOBAL, INC. CMN COM 443787106 13 4,845 SH   SOLE   4,845 0 0
IMPERIAL HOLDINGS, INC. CMN COM 452834104 84 12,100 SH   SOLE   12,100 0 0
INSPERITY INC CMN COM 45778Q107 52 1,000 SH   SOLE   1,000 0 0
ISHARES MSCI JAPAN ETF ge. ETF 464286848 2,506 200,000 SH   SOLE   200,000 0 0
JPMORGAN CHASE & CO CMN COM 46625H100 2,423 40,000 SH   SOLE   40,000 0 0
KEMET CORPORATION CMN COM 488360207 1 100 SH   SOLE   100 0 0
LEUCADIA NATIONAL CORP CMN COM 527288104 455 20,400 SH   SOLE   20,400 0 0
LORAL SPACE &COMMUNICATION INC*. CMN COM 543881106 684 10,000 SH   SOLE   10,000 0 0
LUBYS INC CMN STOCK CMN COM 549282101 5 900 SH   SOLE   900 0 0
MAIN STREET CAPITAL CORP CMN COM 56035L104 692 22,400 SH   SOLE   22,400 0 0
MODUSLINK GLOBAL SOLUTIONS, IN*C CMN COM 60786L206 39 10,000 SH   SOLE   10,000 0 0
NATURES SUNSHINE PRODS INC CMN COM 639027101 315 24,035 SH   SOLE   24,035 0 0
NEW MOUNTAIN FINANCE CORP MUTUAL FUND COM 647551100 15 1,000 SH   SOLE   1,000 0 0
PACIFIC PREMIER BANCORP CMN COM 69478X105 1,318 81,391 SH   SOLE   81,391 0 0
PEAK RESORTS, INC. CMN COM 70469L100 616 100,000 SH   SOLE   100,000 0 0
PENNANTPARK INVESTMENT CORP MUTUAL FUND COM 708062104 13 1,405 SH   SOLE   1,405 0 0
PENNANTPARK FLOATING RATE CAP LTD COM 70806A106 88 6,245 SH   SOLE   6,245 0 0
PEPSICO INC CMN COM 713448108 96 1,000 SH   SOLE   1,000 0 0
QC HOLDINGS, INC. CMN COM 74729T101 6 2,749 SH   SOLE   2,749 0 0
RADIANT LOGISTICS INC CMN COM 75025X100 44 8,410 SH   SOLE   8,410 0 0
SPDR S&P 500 ETF TRUST ETF 78462F103 314,490 1,523,471 SH   SOLE   1,523,471 0 0
TCP CAP CORP MUTUAL FUND COM 87238Q103 16 1,000 SH   SOLE   1,000 0 0
THL CREDIT INC MUTUAL FUND COM 872438106 270 21,964 SH   SOLE   21,964 0 0
TRI POINTE HOMES INC CMN COM 87265H109 154 10,000 SH   SOLE   10,000 0 0
TOLL BROTHERS, INC. CMN COM 889478103 953 24,231 SH   SOLE   24,231 0 0
TRIANGLE CAPITAL CORPORATION MUTUAL FUND COM 895848109 23 1,000 SH   SOLE   1,000 0 0
U.S. GLOBAL INVESTORS INC A CMN COM 902952100 3 1,000 SH   SOLE   1,000 0 0
VANGUARD SPECIALIZED PORTFOLIO VANGUARD DIVIDEND APPRECIATION MUTUAL FUND CL ETF SER VIPERS ETF 921908844 30,639 380,756 SH   SOLE   380,756 0 0
VANGUARD FTSE DEVELOPED MKTS CMN ETF ETF 921943858 15,932 400,000 SH   SOLE   400,000 0 0
VANGUARD INDEX FUNDS (VANGUARD HIGH DIVIDEND YIELD ETF ETF 921946406 1,359 19,900 SH   SOLE   19,900 0 0
VANGUARD FTSE ALL-WORLD EX-US INDEX FUND ETF ETF 922042775 26 542 SH   SOLE   542 0 0
VANGUARD S&P 500 ETF ETF 922908363 286,793 1,515,818 SH   SOLE   1,515,818 0 0
VOLT INFO SCIENCES, INC. CMN COM 928703107 13 1,102 SH   SOLE   1,102 0 0
YAMANA GOLD INC CMN COM 98462Y100 561 156,352 SH   SOLE   156,352 0 0
ESSENT GROUP LTD. CMN COM G3198U102 48 2,000 SH   SOLE   2,000 0 0
GREENLIGHT CAPITAL RE LTD-A CMN COM G4095J109 626 19,696 SH   SOLE   19,696 0 0
NORD ANGLIA EDUCATION, INC. CMN COM G6583A102 227 10,000 SH   SOLE   10,000 0 0
SODASTREAM INTERNATIONAL LTD. CMN COM M9068E105 1,013 50,000 SH   SOLE   50,000 0 0