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
Estimated average burden
hours per response: 23.8
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
A H BELO CORP COM CL A 001282102 228 35,942 SH   SOLE   228 0 0
ADVENT CLAYMORE ENH GRW & IN COM 00765E104 129 15,555 SH   SOLE   129 0 0
ALLERGAN PLC SHS G0177J108 1,729 8,235 SH   SOLE   1,729 0 0
AMERICAN CAP LTD COM 02503Y103 30,261 1,688,660 SH   SOLE   30,261 0 0
ANDINA ACQUISITION CORP II UNIT 99/99/9999 G0441P112 1,964 187,500 SH   SOLE   1,964 0 0
AVENUE INCOME CR STRATEGIES COM 05358E106 383 28,482 SH   SOLE   383 0 0
AVISTA HEALTHCARE PUB ACQ CO UNIT 99/99/9999 G0726L109 1,519 150,000 SH   SOLE   1,519 0 0
AXAR ACQUISITION CORP *W EXP 12/31/202 05455L110 11 142,500 SH   SOLE   11 0 0
B/E AEROSPACE INC COM 073302101 3,190 53,000 SH   SOLE   3,190 0 0
BARINGTON HILCO ACQUISITION COM 06759V101 251 24,740 SH   SOLE   251 0 0
BOULEVARD ACQUISITION CL A 10157Q102 379 38,319 SH   SOLE   379 0 0
BOULEVARD ACQUISITION UNIT 99/99/9999 10157Q201 5,278 519,500 SH   SOLE   5,278 0 0
BROADCOM LTD SHS Y09827109 17 98 SH   SOLE   17 0 0
BROADCOM LTD SHS Y09827109 4,242 24,000 SH Put SOLE   4,242 0 0
BROCADE COMMUNICATIONS SYS I COM NEW 111621306 751 60,100 SH   SOLE   751 0 0
CABELAS INC COM 126804301 3,876 66,200 SH   SOLE   3,876 0 0
CASCADE BANCORP COM NEW 147154207 1,027 126,500 SH   SOLE   1,027 0 0
CORNERSTONE STRATEGIC VALUE COM 21924B302 3,566 235,072 SH   SOLE   3,566 0 0
COTY INC COM CL A 222070203 2,770 151,294 SH   SOLE   2,770 0 0
COVISINT CORP COM 22357R103 35 18,549 SH   SOLE   35 0 0
CROSSROADS CAP INC COM 227656105 303 142,096 SH   SOLE   303 0 0
CST BRANDS INC COM 12646R105 2,663 55,299 SH   SOLE   2,663 0 0
DELL TECHNOLOGIES INC COM CL V 24703L103 964 17,539 SH   SOLE   964 0 0
DISCOVERY COMMUNICATNS NEW COM SER A 25470F104 2,141 78,111 SH   SOLE   2,141 0 0
DIVIDEND & INCOME FUND COM NEW 25538A204 347 29,306 SH   SOLE   347 0 0
DOUBLE EAGLE ACQUISITION COR UNIT 99/99/9999 G28195108 4,684 444,000 SH   SOLE   4,684 0 0
ELECTRUM SPL ACQUISITION COR SHS G3105C104 1,285 129,645 SH   SOLE   1,285 0 0
ENDOCYTE INC COM 29269A102 36 14,200 SH   SOLE   36 0 0
ENDURANCE SPECIALTY HLDGS LT SHS G30397106 1,313 14,205 SH   SOLE   1,313 0 0
FIDELITY & GTY LIFE COM 315785105 1,256 53,000 SH   SOLE   1,256 0 0
FIDELITY NATIONAL FINANCIAL FNFV GROUP COM 31620R402 241 17,563 SH   SOLE   241 0 0
FIRSTHAND TECH VALUE FD INC COM 33766Y100 162 21,139 SH   SOLE   162 0 0
G & K SVCS INC CL A 361268105 811 8,408 SH   SOLE   811 0 0
GABELLI EQUITY TR INC COM 362397101 1,732 313,808 SH   SOLE   1,732 0 0
GAS NAT INC COM 367204104 561 44,680 SH   SOLE   561 0 0
GP INVTS ACQUISITION COR SHS G40357124 716 72,301 SH   SOLE   716 0 0
HARMONY MERGER CORP UNIT 99/99/9999 413247206 773 75,000 SH   SOLE   773 0 0
HARMONY MERGER CORP COM 413247107 911 90,000 SH   SOLE   911 0 0
HARVEST NATURAL RESOURCES IN COM NEW 41754V202 948 153,375 SH   SOLE   948 0 0
HENNESSY CAP ACQUISITION COR COM 42588J100 1,210 120,000 SH   SOLE   1,210 0 0
INTEROIL CORP COM 460951106 1,801 37,842 SH   SOLE   1,801 0 0
KLA-TENCOR CORP COM 482480100 2,932 37,268 SH   SOLE   2,932 0 0
KOPIN CORP COM 500600101 67 23,746 SH   SOLE   67 0 0
LIBERTY ALL STAR EQUITY FD SH BEN INT 530158104 477 92,538 SH   SOLE   477 0 0
LIBERTY GLOBAL PLC SHS CL A G5480U104 2,833 92,610 SH   SOLE   2,833 0 0
LIBERTY GLOBAL PLC LILAC SHS CL C G5480U153 3,316 156,628 SH   SOLE   3,316 0 0
LUNA INNOVATIONS COM 550351100 51 34,483 SH   SOLE   51 0 0
MEDIA GEN INC NEW COM 58441K100 9,300 493,893 SH   SOLE   9,300 0 0
MERCHANTS BANCSHARES COM 588448100 1,109 20,465 SH   SOLE   1,109 0 0
MIDDLEBURG FINANCIAL CORP COM 596094102 2,650 76,253 SH   SOLE   2,650 0 0
MODUSLINK GLOBAL SOLUTIONS I COM NEW 60786L206 102 69,804 SH   SOLE   102 0 0
NEUBERGER BERMAN RE ES SEC F COM 64190A103 2,956 550,467 SH   SOLE   2,956 0 0
NORTHSTAR ASSET MGMT GROUP I COM 66705Y104 632 42,353 SH   SOLE   632 0 0
ORIGO ACQUISITION CORP SHS G67789126 3,214 309,070 SH   SOLE   3,214 0 0
PENNANTPARK FLOATING RATE CA COM 70806A106 581 41,160 SH   SOLE   581 0 0
PRISM TECHNOLOGIES GROUP INC COM 74273Y100 40 132,586 SH   SOLE   40 0 0
QUINPARIO ACQUISITION CORP 2 COM 74874U101 2,426 243,850 SH   SOLE   2,426 0 0
REALNETWORKS INC COM NEW 75605L708 139 28,576 SH   SOLE   139 0 0
REAVES UTIL INCOME FD COM SH BEN INT 756158101 3,086 100,500 SH   SOLE   3,086 0 0
RENTECH INC COM NEW 760112201 325 131,249 SH   SOLE   325 0 0
RITE AID CORP COM 767754104 12,618 1,531,272 SH   SOLE   12,618 0 0
SAFEGUARD SCIENTIFICS INC COM NEW 786449207 6,391 475,138 SH   SOLE   6,391 0 0
SAMSON OIL & GAS LTD SPON ADR NEW 796043206 10 14,119 SH   SOLE   10 0 0
SANOFI RIGHT 12/31/2020 80105N113 59 155,177 SH   SOLE   59 0 0
SELECT SECTOR SPDR TR SBI INT-UTILS 81369Y886 271 5,580 SH   SOLE   271 0 0
SPECTRA ENERGY CORP COM 847560109 8,976 218,450 SH   SOLE   8,976 0 0
ST JUDE MED INC COM 790849103 7,057 88,000 SH   SOLE   7,057 0 0
SUFFOLK BANCORP COM 864739107 1,656 38,676 SH   SOLE   1,656 0 0
SYNGENTA AG SPONSORED ADR 87160A100 6,353 80,368 SH   SOLE   6,353 0 0
TIME WARNER INC COM NEW 887317303 3,861 40,000 SH   SOLE   3,861 0 0
TRANS WORLD ENTMT CORP COM 89336Q100 34 10,400 SH   SOLE   34 0 0
TRIBUNE MEDIA CO CL A 896047503 1,098 31,400 SH   SOLE   1,098 0 0
VALSPAR CORP COM 920355104 269 2,600 SH   SOLE   269 0 0
VIACOM INC NEW CL B 92553P201 1,591 45,334 SH   SOLE   1,591 0 0
VIDEOCON D2H LTD ADR 92657J101 390 47,423 SH   SOLE   390 0 0
WEBMD HEALTH CORP COM 94770V102 1,441 29,062 SH   SOLE   1,441 0 0
WELLS FARGO MULTI SECTOR INC COM 94987D101 514 40,100 SH   SOLE   514 0 0
WESTAR ENERGY INC COM 95709T100 4,583 81,337 SH   SOLE   4,583 0 0
WESTERN REFNG INC COM 959319104 5,455 144,115 SH   SOLE   5,455 0 0
WHITEWAVE FOODS CO COM 966244105 2,274 40,900 SH Put SOLE   2,274 0 0
WHITEWAVE FOODS CO COM 966244105 2,591 46,600 SH Call SOLE   2,591 0 0
WHITEWAVE FOODS CO COM 966244105 4,837 87,000 SH   SOLE   4,837 0 0
WRIGHT MED GROUP N V RIGHT 03/01/2019 N96617126 51 38,308 SH   SOLE   51 0 0
YAHOO INC COM 984332106 9,897 255,925 SH   SOLE   9,897 0 0