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
ADVANCED DRAIN SYS INC DEL COM 00790R104 1,918 87,569 SH   SOLE   87,569 0 0
AIR TRANS SVCS GRP INC COM 00922R105 25,872 1,611,989 SH   SOLE   1,611,989 0 0
ARMSTRONG FLOORING INC COM 04238R106 24,487 1,329,374 SH   SOLE   1,329,374 0 0
BAY BANCORP INC COM 07203T106 270 34,333 SH   SOLE   34,333 0 0
CAPITAL SOUTHWEST CORP COM 140501107 27,568 1,630,252 SH   SOLE   1,630,252 0 0
CENVEO CORP NOTE 7.000% 5/15/17 15671BAJ0 1,712 1,729,000 PRN   SOLE   1,729,000 0 0
COMMERCEHUB INC COM SER A 20084V108 3,330 215,110 SH   SOLE   215,110 0 0
COMMERCEHUB INC COM SER C 20084V306 6,434 414,301 SH   SOLE   414,301 0 0
COTT CORP QUE COM 22163N106 5,254 425,062 SH   SOLE   425,062 0 0
CROWN CRAFTS INC COM 228309100 5,436 660,967 SH   SOLE   660,967 0 0
CST BRANDS INC COM 12646R105 7,443 154,763 SH   SOLE   154,763 0 0
ENTERCOM COMMUNICATIONS CORP CL A 293639100 11,423 798,827 SH   SOLE   798,827 0 0
ISHARES TR 7-10YR TR BD ETF 464287440 17,549 166,200 SH   SOLE   166,200 0 0
J ALEXANDERS HLDGS INC COM 46609J106 1,194 118,771 SH   SOLE   118,771 0 0
LEVEL 3 COMMUNICATIONS INC COM NEW 52729N308 7,959 139,100 SH   SOLE   139,100 0 0
MACQUARIE INFRASTRUCTURE COR COM 55608B105 28,794 357,335 SH   SOLE   357,335 0 0
MEAD JOHNSON NUTRITION CO COM 582839106 2,200 24,700 SH   SOLE   24,700 0 0
MOBILEYE N V AMSTELVEEN ORD SHS N51488117 7,402 120,550 SH   SOLE   120,550 0 0
NAVISTAR INTL CORP NEW NOTE 4.500% 10/15/18 63934EAQ1 7,295 7,420,000 PRN   SOLE   7,420,000 0 0
NETSOL TECHNOLOGIES INC COM PAR $.001 64115A402 3,069 601,692 SH   SOLE   601,692 0 0
NXP SEMICONDUCTORS N V COM N6596X109 932 9,000 SH   SOLE   9,000 0 0
PERCEPTRON INC COM 71361F100 5,321 638,019 SH   SOLE   638,019 0 0
STAR GAS PARTNERS L P UNIT LTD PARTNR 85512C105 8,946 972,442 SH   SOLE   972,442 0 0
TIME WARNER INC COM NEW 887317303 4,521 46,269 SH   SOLE   46,269 0 0
TOWER SEMICONDUCTOR LTD SHS NEW M87915274 43,213 1,874,737 SH   SOLE   1,874,737 0 0
VAIL RESORTS INC COM 91879Q109 17,444 90,900 SH   SOLE   90,900 0 0
VAREX IMAGING CORP COM 92214X106 18,991 565,194 SH   SOLE   565,194 0 0
VCA INC COM 918194101 22,607 247,072 SH   SOLE   247,072 0 0
VIAD CORP COM NEW 92552R406 47,591 1,052,899 SH   SOLE   1,052,899 0 0
XERIUM TECHNOLOGIES INC COM NEW 98416J118 989 154,609 SH   SOLE   154,609 0 0