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
ABERDEEN SINGAPORE FD INC COM 003244100 875 93,379 SH   SOLE   93,379 0 0
ADAMS EXPRESS COMPANY COM 006212104 2,195 166,914 SH   SOLE   166,914 0 0
ADVENT/CLAYMORE ENH GR & INC COM 00765E104 12,206 1,461,794 SH   SOLE   1,461,794 0 0
ANDINA ACQUISITION CORP II SHS G0441P104 1,989 201,285 SH   SOLE   201,285 0 0
ANDINA ACQUISITION CORP II RIGHT 09/01/2017 G0441P120 56 201,285 SH   SOLE   201,285 0 0
ANDINA ACQUISITION CORP II *W EXP 11/23/202 G0441P138 32 201,285 SH   SOLE   201,285 0 0
AR CAPITAL ACQUISITION-CW19 *W EXP 10/06/201 00191R117 12 200,173 SH   SOLE   200,173 0 0
AROWANA INC SHS G05011104 4,076 400,000 SH   SOLE   400,000 0 0
AROWANA INC RIGHT 01/01/2017 G05011120 74 400,000 SH   SOLE   400,000 0 0
AROWANA INC *W EXP 04/29/202 G05011112 39 400,000 SH   SOLE   400,000 0 0
ASIA TIGERS FUND INC COM 04516T105 833 82,840 SH   SOLE   82,840 0 0
ATLANTIC ALLIANCE PARTNER CO SHS G04897107 210 20,000 SH   SOLE   20,000 0 0
BARINGTON HILCO ACQUISITION COM 06759V101 512 50,823 SH   SOLE   50,823 0 0
BARINGTON HILCO ACQUISITION Rights 06759V119 8 50,823 SH   SOLE   50,823 0 0
BARINGTON HILCO ACQUISITION *W EXP 02/11/201 06759V127 5 50,823 SH   SOLE   50,823 0 0
BOULDER GROWTH & INCM FD INC COM 101507101 3,575 426,605 SH   SOLE   426,605 0 0
CENTRAL SECS CORP COM COM 155123102 2,924 137,645 SH   SOLE   137,645 0 0
CHINA LENDING CORP *W EXP 03/30/202 G21612117 50 251,050 SH   SOLE   251,050 0 0
CLOUGH GLOBAL EQUITY FUND COM 18914C100 8,781 773,418 SH   SOLE   773,418 0 0
COPSYNC INC COM NEW 217712207 21 30,000 SH   SOLE   30,000 0 0
COPSYNC INC *W EXP 11/12/202 217712116 3 30,000 SH   SOLE   30,000 0 0
COTY INC-CL A COM CL A 222070203 588 25,000 SH   SOLE   25,000 0 0
CREDIT SUISSE ASSET MGMT INC COM 224916106 2,101 669,142 SH   SOLE   669,142 0 0
CROSSROADS CAPITAL INC COM 227656105 2,309 1,121,032 SH   SOLE   1,121,032 0 0
CUSHING RENAISSANCE FD COM 231647108 10,508 635,722 SH   SOLE   635,722 0 0
DELAWARE INV DIVIDEND & INV COM 245915103 139 14,049 SH   SOLE   14,049 0 0
DEUTSCHE HIGH INCOME OPPORT COM 25158Y102 14,325 1,012,392 SH   SOLE   1,012,392 0 0
DEUTSCHE HIGH INCOME TRUST SHS 25155R100 4,818 496,077 SH   SOLE   496,077 0 0
DEUTSCHE MULTI-MARKET INCOME SHS 25160E102 609 71,219 SH   SOLE   71,219 0 0
E-COMPASS ACQUISITION CORP ORD SHS G2920Y101 1,024 100,000 SH   SOLE   100,000 0 0
E-COMPASS ACQUISITION CORP RIGHT 02/18/2017 G2920Y119 55 100,000 SH   SOLE   100,000 0 0
ELECTRUM SPL ACQUISITION COR *W EXP 99/99/999 G3105C112 44 151,020 SH   SOLE   151,020 0 0
ELLSWORTH FUND INC COM 289074106 279 34,123 SH   SOLE   34,123 0 0
EMERGENT CAPITAL INC COM 29102N105 11,815 4,032,377 SH   SOLE   4,032,377 0 0
EQUUS TOTAL RETURN INC COM 294766100 925 497,162 SH   SOLE   497,162 0 0
FIRST TRUST ABERDEEN GLOBAL COM SHR 337319107 9,051 768,304 SH   SOLE   768,304 0 0
FIRST TRUST DIVIDEND AND INC COM 33731L100 19,952 2,190,168 SH   SOLE   2,190,168 0 0
FIRSTHAND TECHNOLOGY VALUE COM 33766Y100 2,473 315,041 SH   SOLE   315,041 0 0
FULL CIRCLE CAP CORP COM 359671104 4,625 1,752,062 SH   SOLE   1,752,062 0 0
GDL FUND COM 361570104 284 28,598 SH   SOLE   28,598 0 0
GENERAL AMERICAN INVESTORS COM 368802104 6,179 189,259 SH   SOLE   189,259 0 0
GORES HOLDINGS INC *W EXP 08/13/202 382866119 19 21,500 SH   SOLE   21,500 0 0
GSV CAPITAL CORP COM 36191J101 381 80,704 SH   SOLE   80,704 0 0
HARMONY MERGER CORP-WARRANT *W EXP 01/01/202 413247123 110 200,918 SH   SOLE   200,918 0 0
HILL INTERNATIONAL INC COM 431466101 17,866 3,875,519 SH   SOLE   3,875,519 0 0
IMPERIAL HLDGS INC NOTE 8.500% 2/1 452834AE4 8,082 9,243,000 PRN   SOLE   9,243,000 0 0
ISHARES US REAL 10/21/2016 72.00 Put Options 464287959 1 12,800 PRN   SOLE   12,800 0 0
ISHARES US REAL 10/21/2016 82.00 Call Options 464287909 13 25,000 SH   SOLE   25,000 0 0
JAPAN SMALLER CAPTLZTN FD INC COM 47109U104 4,792 444,626 SH   SOLE   444,626 0 0
JETPAY CORP COM 477177109 388 144,207 SH   SOLE   144,207 0 0
JPMORGAN CHINA REGION FD INC COM 48126T104 2,288 132,784 SH   SOLE   132,784 0 0
KOREA EQUITY FD INC COM 50063B104 4,756 555,167 SH   SOLE   555,167 0 0
LAZARD GLOBAL TOT RT & INC COM 52106W103 12,400 887,641 SH   SOLE   887,641 0 0
LIBERTY ALL STAR EQUITY FD SH Common Stock 530158104 4,409 851,229 SH   SOLE   851,229 0 0
M I ACQUISITION CORP UNIT 99/99/9999 55304A203 3,908 390,000 SH   SOLE   390,000 0 0
M III ACQUISITION CORP UNIT 99/99/9999T 55378T203 1,617 165,000 SH   SOLE   165,000 0 0
MEDALLION FINL CORP COM 583928106 42 10,000 SH   SOLE   10,000 0 0
MORGAN STANLEY ASIA PAC FD COM 61744U106 746 49,443 SH   SOLE   49,443 0 0
MVC CAPITAL INC COM 553829102 11,430 1,378,812 SH   SOLE   1,378,812 0 0
NEUBERGER BERMAN REAL ESTATE COM 64190A103 32,422 5,698,062 SH   SOLE   5,698,062 0 0
NEW IRELAND FUND INC COM 645673104 171 13,985 SH   SOLE   13,985 0 0
NEW YORK REIT INC COM 64976L109 22,539 2,463,293 SH   SOLE   2,463,293 0 0
NUVEEN DIVERSIFIED COMMODITY COM 67074P104 5,640 621,807 SH   SOLE   621,807 0 0
NUVEEN GLOBAL EQU INC FD COM 6706EH103 32,874 2,753,299 SH   SOLE   2,753,299 0 0
NUVEEN LONG/SHORT COMMODITY COM 670731108 19,417 1,468,743 SH   SOLE   1,468,743 0 0
ORIGO ACQUISITION COR. WT *W EXP 12/17/202 G67789118 8 75,000 SH   SOLE   75,000 0 0
ORIGO ACQUISITION CORP-RTS RIGHT 12/12/2016 G67789134 14 75,000 SH   SOLE   75,000 0 0
PACHOLDER HIGH YIELD FUND COM 693742108 9,359 1,312,701 SH   SOLE   1,312,701 0 0
PACIFIC SPECIAL ACQUISITION SHS G68588105 3,075 300,000 SH   SOLE   300,000 0 0
PACIFIC SPECIAL ACQUISITION RIGHT 03/15/2017 G68588113 61 300,000 SH   SOLE   300,000 0 0
PACIFIC SPECIAL ACQUISITION *W EXP 10/20/202 G68588121 40 300,000 SH   SOLE   300,000 0 0
PUTNAM HIGH INCOME SECURITIE SHS BEN INT 746779107 4,547 566,995 SH   SOLE   566,995 0 0
QUINPARIO ACQUISITION C-CW23 *W EXP 01/01/202 74874U119 9 51,097 SH   SOLE   51,097 0 0
QUINPARIO ACQUISITION CORP 2 COM 74874U101 506 51,097 SH   SOLE   51,097 0 0
ROYCE VALUE TRUST COM 780910105 1,118 88,300 SH   SOLE   88,300 0 0
SPDR S&P 500 ET 10/21/2016 209.00 Put Options 78462F953 12 16,000 PRN   SOLE   16,000 0 0
STELLAR ACQUISITION III INC UNIT 03/22/2022 Y8172W123 6,510 653,000 SH   SOLE   653,000 0 0
STEWART INFORMATION SERVICES COM 860372101 45,309 1,019,318 SH   SOLE   1,019,318 0 0
SWISS HELVETIA FUND COM 870875101 18,181 1,700,751 SH   SOLE   1,700,751 0 0
TECNOGLASS INC SHS G87264100 876 72,748 SH   SOLE   72,748 0 0
TERRAPIN 3 ACQUISITION-CW19 Warrants 88104P112 36 200,000 SH   SOLE   200,000 0 0
TRI CONTL CORP COM COM 895436103 6,707 313,691 SH   SOLE   313,691 0 0
VIRTUS TOTAL RETURN FD COM 92829A103 23,777 5,016,152 SH   SOLE   5,016,152 0 0
WHEELER REAL ESTATE INVESTME COM 963025101 6,557 3,746,911 SH   SOLE   3,746,911 0 0