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
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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
HOUGHTON MIFFLIN HARCOURT CO Equity 44157R109 13,752 1,478,659 SH   SOLE   1,478,659 0 0
TEGNA INC Equity 87901J105 4,230 300,422 SH   SOLE   300,422 0 0
DONNELLEY FINL SOLUTIONS INC Equity 25787G100 12,790 656,253 SH   SOLE   656,253 0 0
ORBITAL ATK INC Equity 68557N103 13,378 101,735 SH   SOLE   101,735 0 0
GRAY TELEVISION INC Equity 389375106 5,113 305,278 SH   SOLE   305,278 0 0
NATIONAL CINEMEDIA INC Equity 635309107 5,457 795,527 SH   SOLE   795,527 0 0
BARRACUDA NETWORKS INC Equity 068323104 23,954 871,058 SH   SOLE   871,058 0 0
NXP SEMICONDUCTORS N V Equity N6596X109 61,347 523,929 SH   SOLE   523,929 0 0
POTBELLY CORP Equity 73754Y100 13,129 1,067,370 SH   SOLE   1,067,370 0 0
VANGUARD WORLD FDS Equity 92204A504 10,482 68,000 SH   SOLE   68,000 0 0
GENERAL CABLE CORP DEL NEW Equity 369300108 14,095 476,168 SH   SOLE   476,168 0 0
SUN BANCORP INC Equity 86663B201 605 24,877 SH   SOLE   24,877 0 0
MOBILEIRON INC Equity 60739U204 152 38,951 SH   SOLE   38,951 0 0
TIME INC NEW Equity 887228104 13,330 722,475 SH   SOLE   722,475 0 0
LIBERTY GLOBAL PLC Equity G5480U138 10,773 534,652 SH   SOLE   534,652 0 0
KEMET CORP Equity 488360207 3,693 245,197 SH   SOLE   245,197 0 0
BROADSOFT INC Equity 11133B409 24,017 437,472 SH   SOLE   437,472 0 0
AKORN INC Equity 009728106 4,177 129,592 SH   SOLE   129,592 0 0
BERKSHIRE HATHAWAY INC DEL Equity 084670108 13,690 46 SH   SOLE   46 0 0
STRAIGHT PATH COMMUNICATNS I Equity 862578101 1,174 6,458 SH   SOLE   6,458 0 0
TELENAV INC Equity 879455103 1,500 272,749 SH   SOLE   272,749 0 0
AMERISOURCEBERGEN CORP Equity 03073E105 3,813 41,532 SH   SOLE   41,532 0 0
HOUSTON WIRE & CABLE CO Equity 44244K109 289 40,114 SH   SOLE   40,114 0 0
NEXSTAR MEDIA GROUP INC Equity 65336K103 12,632 161,537 SH   SOLE   161,537 0 0
GREEN PLAINS INC Equity 393222104 7,384 438,244 SH   SOLE   438,244 0 0
ATLANTIC COAST FINL CORP Equity 048426100 3,550 376,485 SH   SOLE   376,485 0 0
BERKSHIRE HATHAWAY INC DEL Equity 084670702 569 2,870 SH   SOLE   2,870 0 0
REGAL ENTMT GROUP Equity 758766109 18,004 782,451 SH   SOLE   782,451 0 0
BLACKHAWK NETWORK HLDGS INC Equity 09238E104 6,224 174,583 SH   SOLE   174,583 0 0
KINGSWAY FINL SVCS INC Equity 496904202 2,580 510,914 SH   SOLE   510,914 0 0
REALOGY HLDGS CORP Equity 75605Y106 6,228 235,000 SH   SOLE   235,000 0 0
MICROSTRATEGY INC Equity 594972408 13,105 99,808 SH   SOLE   99,808 0 0
IGNYTA INC Equity 451731103 17,975 673,224 SH   SOLE   673,224 0 0
LUXFER HOLDINGS PLC Equity G5698W116 9,762 617,863 SH   SOLE   617,863 0 0
SILVER SPRING NETWORKS INC Equity 82817Q103 8,293 510,631 SH   SOLE   510,631 0 0
RESOURCE CAP CORP Equity 76120W708 15,918 1,698,869 SH   SOLE   1,698,869 0 0
BUFFALO WILD WINGS INC Equity 119848109 40,741 260,574 SH   SOLE   260,574 0 0
INDUSTREA ACQUISITION CORP Equity 45579J203 2,764 275,000 SH   SOLE   275,000 0 0
GREAT ELM CAP GROUP INC Equity 39036P209 110 27,144 SH   SOLE   27,144 0 0
DARLING INGREDIENTS INC Equity 237266101 21,667 1,195,087 SH   SOLE   1,195,087 0 0
DISNEY WALT CO Equity 254687106 8,354 77,700 SH   SOLE   77,700 0 0
BAZAARVOICE INC Equity 073271108 7,663 1,406,026 SH   SOLE   1,406,026 0 0
BECTON DICKINSON & CO Equity 075887109 23,502 109,790 SH   SOLE   109,790 0 0
SUCAMPO PHARMACEUTICALS INC Equity 864909106 11,445 637,578 SH   SOLE   637,578 0 0
SELECT SECTOR SPDR TR Equity 81369Y506 8,245 114,100 SH   SOLE   114,100 0 0
SHUTTERFLY INC Equity 82568P304 10,597 213,002 SH   SOLE   213,002 0 0
VISHAY PRECISION GROUP INC Equity 92835K103 1,414 56,214 SH   SOLE   56,214 0 0
AMERICAN INTL GROUP INC Equity 026874784 5,628 94,465 SH   SOLE   94,465 0 0
KAPSTONE PAPER & PACKAGING C Equity 48562P103 2,847 125,470 SH   SOLE   125,470 0 0