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
ALPHA PRO TECH LTD CMN COM 020772109 9 3,400 SH   SOLE   3,400 0 0
ALPHABET INC. CMN CLASS C COM 02079K107 8,296 10,000 SH   SOLE   10,000 0 0
AMAZON.COM INC CMN COM 023135106 17,731 20,000 SH   SOLE   20,000 0 0
AMERICAN SHARED HOSP SVCS CMN COM 029595105 325 75,058 SH   SOLE   75,058 0 0
AMGEN INC. CMN COM 031162100 1,641 10,000 SH   SOLE   10,000 0 0
APPLIED MATERIALS INC CMN COM 038222105 7,750 199,230 SH   SOLE   199,230 0 0
ARALEZ PHARMACEUTICALS INC. CMN COM 03852X100 2 1,076 SH   SOLE   1,076 0 0
AXCELIS TECHNOLOGIES INC CMN COM 054540208 64 3,379 SH   SOLE   3,379 0 0
BANCOLOMBIA S.A. SPONSORED ADR PFD USD0.1156 COM 05968L102 109 2,730 SH   SOLE   2,730 0 0
BANK OF AMERICA CORP CMN COM 060505104 3,539 150,000 SH   SOLE   150,000 0 0
BERKSHIRE HATHAWAY INC CL-A (DEL) CLASS A COM 084670108 13,742 55 SH   SOLE   55 0 0
BERKSHIRE HATHAWAY INC. CLASS B COM 084670702 70 420 SH   SOLE   420 0 0
BLUCORA INC CMN COM 095229100 17 1,000 SH   SOLE   1,000 0 0
BOULDER GROWTH & INCOME FD INC MUTUAL FUND COM 101507101 671 72,106 SH   SOLE   72,106 0 0
C&F FINANCIAL CORP CMN COM 12466Q104 51 1,111 SH   SOLE   1,111 0 0
CSW INDUSTRIALS, INC. CMN COM 126402106 274 7,477 SH   SOLE   7,477 0 0
CU BANCORP CMN COM 126534106 293 7,397 SH   SOLE   7,397 0 0
CAPITAL SOUTHWEST CORPORATION MUTUAL FUND COM 140501107 126 7,477 SH   SOLE   7,477 0 0
CAPITOL ACQUISITION CORP III UNIT OTHER 14055M205 1,082 93,700 SH   SOLE   93,700 0 0
CAPSTEAD MORTGAGE CORPORATION CMN COM 14067E506 211 20,000 SH   SOLE   20,000 0 0
CEMTREX INC CMN COM 15130G303 141 40,000 SH   SOLE   40,000 0 0
CENTENNIAL RESOURCE DEV INC CMN COM 15136A102 18 1,000 SH   SOLE   1,000 0 0
WTS/CENTENNIAL RESOURCE DEVELOPMENT, INC. 11.5000 EXP10/11/2021 WTS 15136A110 2 333 SH Call SOLE   333 0 0
CENTRAL SECURITIES CORP. MUTUAL FUND COM 155123102 599 25,000 SH   SOLE   25,000 0 0
CITIZENS, INC. CMN CLASS A COM 174740100 3 405 SH   SOLE   405 0 0
CITY OFFICE REIT, INC. CMN COM 178587101 226 18,600 SH   SOLE   18,600 0 0
CONTINENTAL MATERIALS CORP CMN COM 211615307 8 300 SH   SOLE   300 0 0
DEL TACO RESTAURANTS INC CMN COM 245496104 1 100 SH   SOLE   100 0 0
DIAMOND HILL INVESTMENT GROUP CMN COM 25264R207 195 1,000 SH   SOLE   1,000 0 0
DIGIRAD CORPORATION CMN COM 253827109 159 30,000 SH   SOLE   30,000 0 0
DIXIE GROUP, INC. (THE) CMN CLASS A COM 255519100 4 1,000 SH   SOLE   1,000 0 0
DOVER DOWNS GAMING & ENTMT INC CMN COM 260095104 17 16,157 SH   SOLE   16,157 0 0
ELLINGTON RESIDENTIAL MORT REIT CMN COM 288578107 1,264 86,225 SH   SOLE   86,225 0 0
EMERSON RADIO CORP CMN COM 291087203 20 14,700 SH   SOLE   14,700 0 0
EXPRESS, INC. CMN COM 30219E103 146 16,000 SH   SOLE   16,000 0 0
FACEBOOK, INC. CMN CLASS A COM 30303M102 2,841 20,000 SH   SOLE   20,000 0 0
CALL/FB @ 170 EXP 06/15/2018 CALL 30303M102 290 500 SH Call SOLE   500 0 0
FIRST CMNTY CORP S C CMN COM 319835104 425 19,301 SH   SOLE   19,301 0 0
FORTIVE CORPORATION CMN COM 34959J108 301 5,000 SH   SOLE   5,000 0 0
FULL HOUSE RESORTS CMN COM 359678109 3 1,216 SH   SOLE   1,216 0 0
GAMING AND LEISURE PROP, INC. CMN COM 36467J108 295 8,840 SH   SOLE   8,840 0 0
GAMESTOP CORP CMN CLASS A COM 36467W109 94 4,149 SH   SOLE   4,149 0 0
GENVEC INC CMN COM 37246C406 7 1,180 SH   SOLE   1,180 0 0
GILEAD SCIENCES CMN COM 375558103 69 1,010 SH   SOLE   1,010 0 0
GOLUB CAPITAL BDC LLC MUTUAL FUND COM 38173M102 1,601 80,527 SH   SOLE   80,527 0 0
GREAT AJAX CORP CMN COM 38983D300 326 25,000 SH   SOLE   25,000 0 0
GREAT ELM CAPITAL GROUP, INC. CMN CLASS COM 39036P209 182 55,166 SH   SOLE   55,166 0 0
GUARANTY FEDERAL BANCSHARES INC COM 40108P101 95 5,000 SH   SOLE   5,000 0 0
HARVARD BIOSCIENCE INC CMN COM 416906105 16 6,200 SH   SOLE   6,200 0 0
HEARTLAND FINL USA INC CMN COM 42234Q102 16 326 SH   SOLE   326 0 0
HERCULES CAPITAL INC . COM 427096508 15 1,000 SH   SOLE   1,000 0 0
HISTOGENICS CORP CMN COM 43358V109 2 1,000 SH   SOLE   1,000 0 0
HUDSON GLOBAL, INC. CMN COM 443787106 6 4,845 SH   SOLE   4,845 0 0
ISHARES MSCI IRELAND CAPPED ETF ETF 46429B507 778 19,411 SH   SOLE   19,411 0 0
JPMORGAN CHASE & CO CMN COM 46625H100 3,514 40,000 SH   SOLE   40,000 0 0
JMP GROUP LLC. CMN COM 46629U107 207 34,174 SH   SOLE   34,174 0 0
JAKKS PACIFIC INC CMN COM 47012E106 54 9,900 SH   SOLE   9,900 0 0
KAYNE ANDERSON ACQUISITION CORP. CORP OTHER 48661U201 5,980 596,816 SH   SOLE   596,816 0 0
KEMET CORPORATION CMN COM 488360207 1 100 SH   SOLE   100 0 0
LANDMARK BANCORP INC CMN COM 51504L107 327 11,025 SH   SOLE   11,025 0 0
LIQUIDITY SERVICES INC CMN COM 53635B107 120 15,000 SH   SOLE   15,000 0 0
LORAL SPACE &COMMUNICATION INC. CMN COM 543881106 77 1,957 SH   SOLE   1,957 0 0
LUBYS INC CMN STOCK CMN COM 549282101 3 900 SH   SOLE   900 0 0
MGIC INVESTMENT CORP COMMON STOCK COM 552848103 4,450 439,300 SH   SOLE   439,300 0 0
MRV COMMUNICATIONS, INC. CMN COM 553477407 19 1,800 SH   SOLE   1,800 0 0
MARLIN BUSINESS SERVICES CORP. CMN COM 571157106 551 21,400 SH   SOLE   21,400 0 0
MICROSOFT CORPORATION CMN COM 594918104 13,172 200,000 SH   SOLE   200,000 0 0
MODUSLINK GLOBAL SOLUTIONS, INC CMN COM 60786L206 18 10,000 SH   SOLE   10,000 0 0
MORGAN STANLEY CHINA A SHARE FUND, INC. COM 617468103 19 1,000 SH   SOLE   1,000 0 0
NATIONAL OILWELL VARCO, INC. COMMON STOCK CMN COM 637071101 40 1,000 SH   SOLE   1,000 0 0
NATIONSTAR MTG HLDGS INC CMN COM 63861C109 16 1,000 SH   SOLE   1,000 0 0
NEW IRELAND FUND INC MUTUAL FUND COM 645673104 571 45,075 SH   SOLE   45,075 0 0
NEW MOUNTAIN FINANCE CORP MUTUAL FUND COM 647551100 15 1,000 SH   SOLE   1,000 0 0
NICHOLAS FINANCIAL, INC. CMN COM 65373J209 137 12,846 SH   SOLE   12,846 0 0
NORTHRIM BANCORP INC CMN COM 666762109 117 3,895 SH   SOLE   3,895 0 0
OCWEN FINANCIAL CORPORATION CMN COM 675746309 5 1,000 SH   SOLE   1,000 0 0
PARK ELECTROCHEMICAL CRP CMN COM 700416209 18 1,000 SH   SOLE   1,000 0 0
PARKE BANCORP INC CMN COM 700885106 197 9,210 SH   SOLE   9,210 0 0
PENNANTPARK INVESTMENT CORP MUTUAL FUND COM 708062104 11 1,405 SH   SOLE   1,405 0 0
PENNANTPARK FLOATING RATE CAP LTD COM 70806A106 87 6,245 SH   SOLE   6,245 0 0
PEPSICO INC CMN COM 713448108 2,349 21,000 SH   SOLE   21,000 0 0
CALL/PEP @ 120 EXP 01/18/2019 CALL 713448108 223 500 SH Call SOLE   500 0 0
PINNACLE ENTERTAINMENT INC. CMN COM 72348Y105 203 10,400 SH   SOLE   10,400 0 0
CALL/SVXY @ 40 EXP 01/19/2018 CALL 74347W627 20,350 2,000 SH Call SOLE   2,000 0 0
PUT/SVXY @ 80 EXP 06/16/2017 PUT 74347W627 425 2,500 SH Put SOLE   2,500 0 0
RADIANT LOGISTICS INC CMN COM 75025X100 182 36,410 SH   SOLE   36,410 0 0
RESOLUTE FOREST PRODUCTS INC CMN COM 76117W109 5 1,000 SH   SOLE   1,000 0 0
ROYAL GOLD, INC. CMN COM 780287108 7 100 SH   SOLE   100 0 0
SPDR S&P 500 ETF TRUST ETF 78462F103 359,143 1,523,471 SH   SOLE   1,523,471 0 0
PUT/SPY @ 200 EXP 05/19/2017 PUT 78462F103 39 2,000 SH Put SOLE   2,000 0 0
SAFEGUARD SCIENTIFICS INC CMN COM 786449207 36 2,800 SH   SOLE   2,800 0 0
THE FINANCIAL SELECT SECTOR SPDR FUND ETF 81369Y605 119 5,000 SH   SOLE   5,000 0 0
SHIRE LIMITED SPONSORED ADR CMN COM 82481R106 2,582 14,820 SH   SOLE   14,820 0 0
SILVER RUN ACQUISITION CORPORATION II UNIT OTHER 82812A202 7,562 725,000 SH   SOLE   725,000 0 0
SNAP INC. CMN CLASS A COM 83304A106 586 26,000 SH   SOLE   26,000 0 0
SOLAR CAPITAL LTD. MUTUAL FUND COM 83413U100 113 5,000 SH   SOLE   5,000 0 0
TCP CAP CORP MUTUAL FUND COM 87238Q103 17 1,000 SH   SOLE   1,000 0 0
THL CREDIT INC MUTUAL FUND COM 872438106 219 21,964 SH   SOLE   21,964 0 0
TRI POINTE GROUP INC CMN COM 87265H109 376 30,000 SH   SOLE   30,000 0 0
TEMPLETON GLOBAL INCOME FUND MUTUAL FUND COM 880198106 266 40,000 SH   SOLE   40,000 0 0
PUT/TSLA @ 200 EXP 01/18/2019 PUT 88160R101 579 240 SH Put SOLE   240 0 0
TOLL BROTHERS, INC. CMN COM 889478103 875 24,231 SH   SOLE   24,231 0 0
TRIANGLE CAPITAL CORPORATION MUTUAL FUND COM 895848109 19 1,000 SH   SOLE   1,000 0 0
TRUSTCO BANK CORP NY CMN COM 898349105 2,041 260,000 SH   SOLE   260,000 0 0
CALL/TWTR @ 30 EXP 01/19/2018 CALL 90184L102 1 40 SH Call SOLE   40 0 0
U.S. GLOBAL INVESTORS INC A CMN COM 902952100 2 1,000 SH   SOLE   1,000 0 0
U S GEOTHERMAL INC CMN COM 90338S201 280 68,366 SH   SOLE   68,366 0 0
VANGUARD SPECIALIZED PORTFOLIO VANGUARD DIVIDEND APPRECIATION MUTUAL FUND CL ETF SER VIPERS ETF 921908844 34,245 380,756 SH   SOLE   380,756 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 328,813 1,519,818 SH   SOLE   1,519,818 0 0
VIDEOCON D2H LIMITED ADR CMN COM 92657J101 575 50,000 SH   SOLE   50,000 0 0
VIRTU FINANCIAL, INC. CMN CLASS A COM 928254101 3,782 222,481 SH   SOLE   222,481 0 0
VOLT INFO SCIENCES, INC. CMN COM 928703107 8 1,203 SH   SOLE   1,203 0 0
WAYSIDE TECHNOLOGY GROUP, INC CMN COM 946760105 158 8,390 SH   SOLE   8,390 0 0
WEBSTER FINANCIAL CORP CMN COM 947890109 175 3,500 SH   SOLE   3,500 0 0
CALL/XLNX @ 75 EXP 01/18/2019 CALL 983919101 255 1,000 SH Call SOLE   1,000 0 0
ALLERGAN PLC CMN COM G0177J108 239 1,000 SH   SOLE   1,000 0 0
ASIA PACIFIC WIRE & CABLE CORP CMN COM G0535E106 50 18,188 SH   SOLE   18,188 0 0
ELECTRUM SPL ACQUISITION CORP UNIT OTHER G3105C120 517 50,000 SH   SOLE   50,000 0 0
ESSENT GROUP LTD. CMN COM G3198U102 72 2,000 SH   SOLE   2,000 0 0
MICHAEL KORS HOLDINGS LIMITED CMN COM G60754101 99 2,600 SH   SOLE   2,600 0 0