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
1347 CAP CORP COM 68245V103 755 76,600 SH   SOLE   76,600 0 0
1347 CAP CORP RIGHT07/21/2016 68245V111 2 76,600 SH   SOLE   76,600 0 0
1347 CAP CORP *WEXP07/15/202 68245V129 11 76,600 SH   SOLE   76,600 0 0
1347 CAPITAL CORP Units COM 68245V202 1,779 174,798 SH   SOLE   174,798 0 0
ADAMS EXPRESS COMPANY COM 006212104 2,143 167,036 SH   SOLE   167,036 0 0
ADVENT/CLAYMORE ENH GR & INC COM 00765E104 12,584 1,521,674 SH   SOLE   1,521,674 0 0
ALPINE TOTAL DYNAMIC DIVIDEN COM 021060108 106 13,750 SH   SOLE   13,750 0 0
ANDINA ACQUISITION CORP II SHS G0441P112 2,033 205,000 SH   SOLE   205,000 0 0
AR CAPITAL ACQUISITION-CW19 Warrants 00191R117 36 200,173 SH   SOLE   200,173 0 0
AROWANA INC Units G05011138 4,020 400,000 SH   SOLE   400,000 0 0
BANCROFT FUND LTD CommonStocks 59695106 1,367 75,134 SH   SOLE   75,134 0 0
BLACKROCK RESOURCES & COMMOD CommonStocks 09257A108 2,571 361,572 SH   SOLE   361,572 0 0
BARINGTON HILCO ACQUISITION COM 06759V101 521 53,026 SH   SOLE   53,026 0 0
BARINGTON HILCO ACQUISITION Rights 06759V119 9 53,026 SH   SOLE   53,026 0 0
BARINGTON HILCO ACQUISITION *WEXP02/11/201 06759V127 6 53,026 SH   SOLE   53,026 0 0
BOULDER BRANDS INC CommonStocks 101405108 1,229 111,957 SH   SOLE   111,957 0 0
BOULDER GROWTH & INCM FD INC COM 101507101 7,755 1,001,932 SH   SOLE   1,001,932 0 0
C B PHARMA ACQUISITION CORP Warrants G2029P118 4 23,814 SH   SOLE   23,814 0 0
CB PHARMA ACQUISITION-RTS Rights G2029P134 15 75,000 SH   SOLE   75,000 0 0
COPSYNC INC COMNEW 217712207 62 30,000 SH   SOLE   30,000 0 0
COPSYNC INC *WEXP11/12/202 217712116 15 30,000 SH   SOLE   30,000 0 0
CREDIT SUISSE ASSET MGMT INC COM 224916106 755 271,464 SH   SOLE   271,464 0 0
CROSSROADS CAPITAL INC COM 227656105 3,615 1,126,341 SH   SOLE   1,126,341 0 0
CUSHING RENAISSANCE FD COM 231647108 680 47,682 SH   SOLE   47,682 0 0
DELAWARE INV DIVIDEND & INC COM 245915103 115 12,991 SH   SOLE   12,991 0 0
DIVERSIFIED REAL ASSET INCOM COM 25533B108 4,930 317,845 SH   SOLE   317,845 0 0
DT ASIA INVESTMENTS LTD COM G2615J104 4,370 434,872 SH   SOLE   434,872 0 0
DT ASIA INVESTMENTS LTD-RTS Rights G2615J112 28 251,050 SH   SOLE   251,050 0 0
DT ASIA INVTS LTD WT 033021 Warrants G2615J138 25 253,872 SH   SOLE   253,872 0 0
DWS GLBL HIGH INCOME FD INC COM 23338W104 5,876 778,229 SH   SOLE   778,229 0 0
DWS HIGH INCOME OPPORTUNITIES COM 23339M204 18,119 1,387,377 SH   SOLE   1,387,377 0 0
E-COMPASS ACQUISITION CORP COM G2920Y200 1,000 100,000 SH   SOLE   100,000 0 0
ELECTRUM SPECIAL ACQUISITI-U COM G3105C120 466 46,800 SH   SOLE   46,800 0 0
ELECTRUM SPL ACQUISITION COR SHS G3105C104 1,033 107,117 SH   SOLE   107,117 0 0
ELECTRUM SPL ACQUISITION COR *WEXP99/99/999 G3105C112 24 107,117 SH   SOLE   107,117 0 0
ELLSWORTH FUND INC COM 289074106 388 50,078 SH   SOLE   50,078 0 0
EMERGENT CAPITAL INC COM 29102N105 14,879 4,032,378 SH   SOLE   4,032,378 0 0
EQUUS TOTAL RETURN INC COM 294766100 916 511,628 SH   SOLE   511,628 0 0
FINTECH ACQUISITION CORP COM 31809H209 1,521 150,000 SH   SOLE   150,000 0 0
FIRST TRUST ABERDEEN GLOBAL COMSHR 337319107 1,467 144,780 SH   SOLE   144,780 0 0
FIRST TRUST DIVIDEND AND INC COM 33731L100 8,023 948,305 SH   SOLE   948,305 0 0
FIRSTHAND TECHNOLOGY VALUE COM 33766Y100 6,139 721,410 SH   SOLE   721,410 0 0
FULL CIRCLE CAPITAL CORP COM 359671104 4,145 1,678,185 SH   SOLE   1,678,185 0 0
GABELLI GLOBALDEAL FUND (THE) COM 361570104 576 57,581 SH   SOLE   57,581 0 0
GARNERO GROUP ACQUISIT-CW19 Warrants G5866L116 75 578,822 SH   SOLE   578,822 0 0
GARNERO GROUP ACQUISITION CO COM G5866L108 6,534 666,089 SH   SOLE   666,089 0 0
GARNERO GROUP ACQUISITIO-RTS Rights G5866L132 127 528,456 SH   SOLE   528,456 0 0
GENERAL AMERICAN INVESTORS COM 368802104 10,421 326,288 SH   SOLE   326,288 0 0
GLOBAL HIGH INCOME FUND INC COM 37933G108 16,423 1,932,140 SH   SOLE   1,932,140 0 0
GORES HOLDINGS INC COM 382866200 1,500 150,000 SH   SOLE   150,000 0 0
GSV CAPITAL CORP COM 36191J101 776 82,812 SH   SOLE   82,812 0 0
GYRODYNE LLC COM 403829104 1,210 47,368 SH   SOLE   47,368 0 0
HARMONY MERGER CORP COM 413247107 1,960 200,000 SH   SOLE   200,000 0 0
HARMONY MERGER CORP-WARRANT Warrants 413247123 60 200,918 SH   SOLE   200,918 0 0
HILL INTERNATIONAL INC COM 431466101 15,071 3,884,261 SH   SOLE   3,884,261 0 0
IMPERIAL HOLDINGS INCIFT 8 1/2 02/15/19 Bond 452834AE4 7,753 9,243,000 PRN   SOLE   9,243,000 0 0
ISHARES US REAL 01/15/2016 73.00 PutOptions 464287959 8,703 29,500 PRN   SOLE   29,500 0 0
ISHARES US REAL 01/15/2016 75.50 CallOptions 464287909 18,733 29,500 SH   SOLE   29,500 0 0
JETPAY CORP COM 477177109 211 77,698 SH   SOLE   77,698 0 0
KEARNY FINANCIAL CORP/MD COM 48716P108 760 60,000 SH   SOLE   60,000 0 0
LIBERTY ALL STAR EQUITY FD SH COM 530158104 11,818 2,208,963 SH   SOLE   2,208,963 0 0
LMP REAL ESTATE INCOME FUND COM 50208C108 30,314 2,324,731 SH   SOLE   2,324,731 0 0
MANAGED HI YLD PLUS FUND INC COM 561911108 5,536 3,145,351 SH   SOLE   3,145,351 0 0
MVC CAPITAL INC COM 553829102 10,236 1,388,826 SH   SOLE   1,388,826 0 0
NEUBERGER BERMAN REAL ESTATE COM 64190A103 24,541 4,898,711 SH   SOLE   4,898,711 0 0
NEW YORK REIT INC CommonStocks 64976L109 1,414 122,962 SH   SOLE   122,962 0 0
NUVEEN DIVERSIFIED COMMODITY COM 67074P104 4,295 476,214 SH   SOLE   476,214 0 0
NUVEEN GLOBAL EQU INC FD COM 6706EH103 14,435 1,321,864 SH   SOLE   1,321,864 0 0
NUVEEN LONG/SHORT COMMODITY COM 670731108 17,932 1,153,947 SH   SOLE   1,153,947 0 0
PACHOLDER HIGH YIELD FUND COM 693742108 3,600 593,169 SH   SOLE   593,169 0 0
PACIFIC SPECIAL ACQUISITION UNIT99/99/9999 G68588139 3,015 300,000 SH   SOLE   300,000 0 0
PANGAEA LOGISTICS SOLUTIONS COM G6891L105 53 20,191 SH   SOLE   20,191 0 0
PREFERRED APT CMNTYS INC COM 74039L103 766 58,553 SH   SOLE   58,553 0 0
PUTNAM HIGH INCOME SECURITIE SHSBENINT 746779107 762 104,177 SH   SOLE   104,177 0 0
QUINPARIO ACQUISITION C-CW23 Warrants 74874U119 7 34,389 SH   SOLE   34,389 0 0
QUINPARIO ACQUISITION CORP 2 COM 74874U101 334 34,389 SH   SOLE   34,389 0 0
QUINPARIO ACQUISITION CORP 2 (units) COM 74874U200 192 19,645 SH   SOLE   19,645 0 0
ROYCE VALUE TRUST COM 780910105 519 44,100 SH   SOLE   44,100 0 0
SILVER BAY REALTY TRUST CORP COM 82735Q102 375 23,931 SH   SOLE   23,931 0 0
SOURCE CAP INC COM 836144105 14,036 211,833 SH   SOLE   211,833 0 0
SPDR S&P 500 ET 01/15/16 203.00 PutOptions 78462F953 16 7,200 PRN   SOLE   7,200 0 0
SPDR S&P 500 ET 01/15/16 208.00 CallOptions 78462F903 6 7,200 SH   SOLE   7,200 0 0
STEWART INFORMATION SERVICES COM 860372101 42,388 1,135,499 SH   SOLE   1,135,499 0 0
STRATEGIC GLOBAL INCOME FD COM 862719101 1,337 152,647 SH   SOLE   152,647 0 0
SWISS HELVETIA FUND CommonStock 870875101 9,180 869,357 SH   SOLE   869,357 0 0
TERRAPIN 3 ACQUISITION COR-A COM 88104P104 1,972 200,000 SH   SOLE   200,000 0 0
TERRAPIN 3 ACQUISITION-CW19 Warrants 88104P112 57 200,000 SH   SOLE   200,000 0 0
TRI CONTL CORP COM COM 895436103 7,795 389,371 SH   SOLE   389,371 0 0
VIRTUS TOTAL RETURN FD COM 92829A103 22,138 1,099,076 SH   SOLE   1,099,076 0 0
WHEELER REAL ESTATE INVESTME COM 963025101 8,209 4,253,438 SH   SOLE   4,253,438 0 0
WHEELER REAL ESTATE INVESTME Warrants 963025119 1 23,000 SH   SOLE   23,000 0 0
WINTHROP REALTY TRUST COM 976391300 30,103 2,320,962 SH   SOLE   2,320,962 0 0
ZWEIG TOTAL RETURN FUND INC COMNEW 989837208 641 52,604 SH   SOLE   52,604 0 0