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 201 35,942 SH   SOLE   35,942 0 0
ALLIANCE BANCORP INC PA NEW COM 01890A108 5,095 223,575 SH   SOLE   223,575 0 0
ALLIANCEBERNSTEIN INCOME FUN COM 01881E101 341 45,848 SH   SOLE   45,848 0 0
AR CAP ACQUISITION CORP UNIT 10/06/2019 00191R208 338 33,500 SH   SOLE   33,500 0 0
AUDIENCE INC COM 05070J102 1,425 291,345 SH   SOLE   291,345 0 0
AVENUE INCOME CR STRATEGIES COM 05358E106 424 29,808 SH   SOLE   29,808 0 0
BABCOCK & WILCOX CO NEW COM 05615F102 7,380 225,000 SH   SOLE   225,000 0 0
BARINGTON HILCO ACQUISITION COM 06759V101 241 24,740 SH   SOLE   24,740 0 0
BDCA VENTURE INC COM 05543L106 583 129,581 SH   SOLE   129,581 0 0
BIGLARI HLDGS INC COM 08986R101 815 1,970 SH   SOLE   1,970 0 0
BRIDGE CAP HLDGS COM 108030107 3,299 110,700 SH   SOLE   110,700 0 0
BROADCOM CORP CL A 111320107 1,236 24,000 SH Put SOLE   24,000 0 0
BROOKFIELD GLOBL LISTED INFR COM SHS 11273Q109 482 29,120 SH   SOLE   29,120 0 0
BROOKFIELD TOTAL RETURN FD I COM 11283U108 548 24,490 SH   SOLE   24,490 0 0
C B PHARMA ACQUISITION CORP SHS G2029P126 124 12,500 SH   SOLE   12,500 0 0
CATAMARAN CORP COM 148887102 1,845 30,200 SH   SOLE   30,200 0 0
CATAMARAN CORP COM 148887102 489 8,000 SH Call SOLE   8,000 0 0
CBS CORP NEW CL B 124857202 288 5,191 SH   SOLE   5,191 0 0
CENTER COAST MLP & INFRSTR F COM SHS 151461100 904 59,217 SH   SOLE   59,217 0 0
CHINA MOBILE GAMES & ENTMT G SPONSORED ADR 16952T100 894 42,300 SH   SOLE   42,300 0 0
CITY NATL CORP COM 178566105 7,972 88,200 SH   SOLE   88,200 0 0
CLECO CORP NEW COM 12561W105 1,644 30,528 SH   SOLE   30,528 0 0
COHEN & STEERS TOTAL RETURN COM 19247R103 208 17,079 SH   SOLE   17,079 0 0
COMMUNICATIONS SALES&LEAS IN COM 20341J104 1,778 71,914 SH   SOLE   71,914 0 0
COPART INC COM 217204106 962 27,100 SH   SOLE   27,100 0 0
CORNERSTONE STRATEGIC VALUE COM PAR $0.001 21924B302 6,100 291,876 SH   SOLE   291,876 0 0
COVISINT CORP COM 22357R103 62 19,110 SH   SOLE   19,110 0 0
CYAN INC COM 23247W104 1,163 221,968 SH   SOLE   221,968 0 0
DELAWARE INVTS DIV & INCOME COM 245915103 206 20,764 SH   SOLE   20,764 0 0
DIRECTV COM 25490A309 11,200 120,700 SH   SOLE   120,700 0 0
DISCOVERY COMMUNICATNS NEW COM SER C 25470F302 6,906 222,196 SH   SOLE   222,196 0 0
DNP SELECT INCOME FD COM 23325P104 793 78,401 SH   SOLE   78,401 0 0
DRESSER-RAND GROUP INC COM 261608103 1,847 21,679 SH   SOLE   21,679 0 0
E M C CORP MASS COM 268648102 1,267 48,000 SH   SOLE   48,000 0 0
ENDOCYTE INC COM 29269A102 74 14,200 SH   SOLE   14,200 0 0
EXCEL TR INC COM 30068C109 595 37,738 SH   SOLE   37,738 0 0
FAMILY DLR STORES INC COM 307000109 12,657 160,598 SH   SOLE   160,598 0 0
FIDELITY NATIONAL FINANCIAL FNF GROUP COM 31620R303 218 5,891 SH   SOLE   5,891 0 0
FIDELITY NATIONAL FINANCIAL FNFV GROUP COM 31620R402 117 7,634 SH   SOLE   7,634 0 0
FIRSTHAND TECH VALUE FD INC COM 33766Y100 273 21,139 SH   SOLE   21,139 0 0
FULL CIRCLE CAP CORP COM 359671104 77 21,700 SH   SOLE   21,700 0 0
GABELLI EQUITY TR INC COM 362397101 3,475 555,168 SH   SOLE   555,168 0 0
GABELLI GLOBL UTIL & INCOME COM SH BEN INT 36242L105 448 24,652 SH   SOLE   24,652 0 0
GARNERO GROUP ACQUISITION CO SHS G5866L108 2,917 297,000 SH   SOLE   297,000 0 0
GLOBAL DEFENSE & NATL SEC SY COM 37953N108 2,226 211,963 SH   SOLE   211,963 0 0
GLOBAL NET LEASE INC COM 379378102 255 28,840 SH   SOLE   28,840 0 0
GULF COAST ULTRA DEEP RTY TR ROYALTY TR UNT 40222T104 10 14,923 SH   SOLE   14,923 0 0
HARMONY MERGER CORP UNIT 99/99/9999 413247206 762 75,000 SH   SOLE   75,000 0 0
HARVEST NATURAL RESOURCES IN COM 41754V103 429 245,107 SH   SOLE   245,107 0 0
HERITAGE FINL GROUP INC COM 42726X102 8,727 289,180 SH   SOLE   289,180 0 0
HOME PROPERTIES INC COM 437306103 3,407 46,646 SH   SOLE   46,646 0 0
HOSPIRA INC COM 441060100 3,049 34,373 SH   SOLE   34,373 0 0
HOSPIRA INC COM 441060100 1,331 15,000 SH Call SOLE   15,000 0 0
HUDSON VALLEY HOLDING CORP COM 444172100 1,282 45,442 SH   SOLE   45,442 0 0
HYDRA INDS ACQUISITION CORP COM 448740100 1,083 112,015 SH   SOLE   112,015 0 0
IGATE CORP COM 45169U105 572 12,000 SH   SOLE   12,000 0 0
INFORMATICA CORP COM 45666Q102 582 12,000 SH   SOLE   12,000 0 0
INTERNATIONAL GAME TECHNOLOG SHS USD G4863A108 188 10,609 SH   SOLE   10,609 0 0
INTERNET PATENTS CORP COM 46063G101 393 130,165 SH   SOLE   130,165 0 0
KCG HLDGS INC CL A 48244B100 215 17,448 SH   SOLE   17,448 0 0
KOPIN CORP COM 500600101 88 25,412 SH   SOLE   25,412 0 0
LEARNING TREE INTL INC COM 522015106 23 17,988 SH   SOLE   17,988 0 0
LEVY ACQUISITION CORP COM 52748T104 707 46,444 SH   SOLE   46,444 0 0
LIBERTY ALL STAR EQUITY FD SH BEN INT 530158104 576 100,186 SH   SOLE   100,186 0 0
LIBERTY GLOBAL PLC SHS CL C G5480U120 6,637 131,085 SH   SOLE   131,085 0 0
LIFEVANTAGE CORP COM 53222K106 17 32,161 SH   SOLE   32,161 0 0
LMP REAL ESTATE INCOME FD IN COM 50208C108 1,024 87,530 SH   SOLE   87,530 0 0
LNB BANCORP INC COM 502100100 1,110 60,000 SH   SOLE   60,000 0 0
LOEWS CORP COM 540424108 7,278 189,000 SH   SOLE   189,000 0 0
LUNA INNOVATIONS COM 550351100 36 34,483 SH   SOLE   34,483 0 0
MCG CAPITAL CORP COM 58047P107 2,194 481,158 SH   SOLE   481,158 0 0
MEADWESTVACO CORP COM 583334107 2,946 62,420 SH   SOLE   62,420 0 0
MITEL NETWORKS CORP COM 60671Q104 133 15,021 SH   SOLE   15,021 0 0
MODUSLINK GLOBAL SOLUTIONS I COM NEW 60786L206 258 75,970 SH   SOLE   75,970 0 0
NEUBERGER BERMAN RE ES SEC F COM 64190A103 1,778 375,004 SH   SOLE   375,004 0 0
NISOURCE INC COM 65473P105 2,507 55,000 SH   SOLE   55,000 0 0
NUVEEN DIVERSIFIED COMMODTY COM UT BEN INT 67074P104 312 26,165 SH   SOLE   26,165 0 0
NUVEEN GLOBAL HIGH INCOME FD SHS 67075G103 614 36,727 SH   SOLE   36,727 0 0
NUVEEN LG/SHT COMMODITY TOTR COM UT BEN INT 670731108 958 58,299 SH   SOLE   58,299 0 0
OCCIDENTAL PETE CORP DEL COM 674599105 467 6,000 SH   SOLE   6,000 0 0
OMNICARE INC COM 681904108 1,131 12,000 SH   SOLE   12,000 0 0
OMNIVISION TECHNOLOGIES INC COM 682128103 525 20,039 SH   SOLE   20,039 0 0
ONEIDA FINL CORP MD COM 682479100 1,935 94,616 SH   SOLE   94,616 0 0
P A M TRANSN SVCS INC COM 693149106 203 3,500 SH   SOLE   3,500 0 0
PALMETTO BANCSHARES INC COM NEW 697062206 621 31,403 SH   SOLE   31,403 0 0
PEPCO HOLDINGS INC COM 713291102 734 27,259 SH   SOLE   27,259 0 0
PMFG INC COM 69345P103 2,671 415,325 SH   SOLE   415,325 0 0
POLYPORE INTL INC COM 73179V103 886 14,800 SH   SOLE   14,800 0 0
PPL CORP COM 69351T106 530 18,000 SH   SOLE   18,000 0 0
QLT INC COM 746927102 452 109,340 SH   SOLE   109,340 0 0
QUINPARIO ACQUISITION CORP 2 COM 74874U101 635 63,850 SH   SOLE   63,850 0 0
REALD INC COM 75604L105 279 22,600 SH   SOLE   22,600 0 0
REALNETWORKS INC COM NEW 75605L708 247 45,570 SH   SOLE   45,570 0 0
REAVES UTIL INCOME FD COM SH BEN INT 756158101 849 29,616 SH   SOLE   29,616 0 0
RENTECH INC COM 760112102 923 862,545 SH   SOLE   862,545 0 0
ROI ACQUISITION CORP II COM 74966G101 1,561 152,281 SH   SOLE   152,281 0 0
ROSETTA RESOURCES INC COM 777779307 3,041 131,407 SH   SOLE   131,407 0 0
RTI INTL METALS INC COM 74973W107 1,914 60,711 SH   SOLE   60,711 0 0
SAFEGUARD SCIENTIFICS INC COM NEW 786449207 6,683 343,447 SH   SOLE   343,447 0 0
SAMSON OIL & GAS LTD SPON ADR NEW 796043206 13 14,119 SH   SOLE   14,119 0 0
SANOFI RIGHT 12/31/2020 80105N113 115 164,477 SH   SOLE   164,477 0 0
SIGMA ALDRICH CORP COM 826552101 1,254 9,000 SH   SOLE   9,000 0 0
SIRIUS XM HLDGS INC COM 82968B103 332 89,133 SH   SOLE   89,133 0 0
SIZMEK INC COM 83013P105 74 10,354 SH   SOLE   10,354 0 0
SUSQUEHANNA BANCSHARES INC P COM 869099101 3,499 247,781 SH   SOLE   247,781 0 0
TELEPHONE & DATA SYS INC COM NEW 879433829 697 23,691 SH   SOLE   23,691 0 0
TIME WARNER CABLE INC COM 88732J207 624 3,500 SH   SOLE   3,500 0 0
TIVO INC COM 888706108 226 22,300 SH   SOLE   22,300 0 0
TRANS WORLD ENTMT CORP COM 89336Q100 38 10,400 SH   SOLE   10,400 0 0
UNIVERSAL TRUCKLOAD SVCS INC COM 91388P105 921 41,941 SH   SOLE   41,941 0 0
VALLEY FINL CORP VA COM 919629105 1,901 89,001 SH   SOLE   89,001 0 0
VIDEOCON D2H LTD ADR 92657J101 1,727 136,979 SH   SOLE   136,979 0 0
VISTEON CORP COM NEW 92839U206 472 4,500 SH   SOLE   4,500 0 0
VODAFONE GROUP PLC NEW SPNSR ADR NO PAR 92857W308 239 6,544 SH   SOLE   6,544 0 0
WENDYS CO COM 95058W100 1,469 130,200 SH   SOLE   130,200 0 0
WINDSTREAM HLDGS INC COM NEW 97382A200 86 13,500 SH   SOLE   13,500 0 0
WRIGHT MED GROUP INC RIGHT 03/01/2019 98235T115 153 38,308 SH   SOLE   38,308 0 0
YAHOO INC COM 984332106 5,972 152,000 SH   SOLE   152,000 0 0
ZYNGA INC CL A 98986T108 173 60,500 SH   SOLE   60,500 0 0