Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
—	SUNAMERICA FCSED ALPHA GRW F	2,109,252	$28.92M	12.7%	$13.71	$13.71	—	Com	867037103
—	INSURED MUN INCOME FD	1,984,734	$27.96M	12.2%	$14.09	$14.09	—	Com	45809F104
—	TRIAN ACQUISITION I CORP	2,837,934	$27.93M	12.2%	$9.84	$9.84	—	Com	89582E108
—	CLAYMORE DIVID & INCOME FD	1,544,568	$24.17M	10.6%	$15.65	$15.65	—	COM	18385J105
—	SUNAMERICA FOCUSED ALPHA L/C	1,488,554	$20.35M	8.9%	$13.67	$13.67	—	Mutual Funds	867038101
—	ATLAS ACQUISITION HLDGS CORP	1,035,249	$10.35M	4.5%	$10.00	$10.00	—	Com	049162100
—	GYRODYNE CO AMER INC	237,332	$9.94M	4.4%	$41.88	$41.88	—	Com	403820103
—	LIBERTY ACQUISITION HLDGS CO	932,800	$9.02M	3.9%	$9.67	$9.67	—	Com	53015Y107
—	ASIA SPECIAL SIT ACQST CORP	818,850	$8.139M	3.6%	$9.94	$9.94	—	Com	G0538M105
—	BPW ACQUISITION CORP	758,474	$7.987M	3.5%	$10.53	$10.53	—	Com	055637102
—	FIRST TR FOUR CRNRS SR FLT R	491,418	$5.936M	2.6%	$12.08	$12.08	—	COM SHS	33733Q107
—	OVERTURE ACQUISITION CORP	585,099	$5.851M	2.6%	$10.00	$10.00	—	Com	G6830P100
—	DWS RREEF REAL ESTATE FD INC	1,322,502	$5.356M	2.3%	$4.05	$4.05	—	COM	233384106
—	NEUBERGER BERMAN REAL ESTATE	1,429,444	$4.36M	1.9%	$3.05	$3.05	—	COM	64190A103
—	DWS RREEF REAL ESTATE FD II	3,999,238	$4.292M	1.9%	$1.07	$1.07	—	Com	23338X102
—	COHEN & STEERS REIT & UTIL I	295,800	$3.141M	1.4%	$10.62	$10.62	—	Com	19247Y108
—	SPORTS PPTYS ACQUISITION COR	286,999	$2.848M	1.2%	$9.92	$9.92	—	Com	84920F107
—	LIBERTY ALL-STAR GROWTH FD I	666,111	$2.238M	1.0%	$3.36	$3.36	—	Com	529900102
—	PENWEST PHARMACEUTICALS CO	771,808	$1.999M	0.9%	$2.59	$2.59	—	COM	709754105
—	OLD MUTUAL CLAYMORE LNG SHT	225,246	$1.915M	0.8%	$8.50	$8.50	—	COM	68003N103
—	NAVIOS MARITIME ACQUIS CORP	173,200	$1.702M	0.7%	$9.83	$9.83	—	SHS	Y62159101
—	ELLSWORTH FUND LTD	226,112	$1.481M	0.6%	$6.55	$6.55	—	Com	289074106
—	KOREA EQUITY FD INC	157,306	$1.455M	0.6%	$9.25	$9.25	—	Com	50063B104
—	ZWEIG FD	325,982	$1.079M	0.5%	$3.31	$3.31	—	Com	989834106
—	MEXICO EQUITY AND INCOME FD	128,845	$986K	0.4%	$7.65	$7.65	—	Com	592834105
—	ROBERTS REALTY INVS	736,202	$957K	0.4%	$1.30	$1.30	—	Com	769900101
—	SAPPHIRE INDUSTRIALS CORP	84,500	$848K	0.4%	$10.04	$10.04	—	Com	80306T109
—	RIVUS BOND FUND	51,564	$843K	0.4%	$16.35	$16.35	—	COM	769667106
—	GLOBAL INCOME&CURRENCY FD IN	36,244	$509K	0.2%	$14.04	$14.04	—	COM	378968101
LGL	LGL GROUP INC	146,048	$480K	0.2%	$3.29	$3.29	—	Com	50186A108
—	NEW GERMANY FUND	30,769	$369K	0.2%	$11.99	$11.99	—	Com	644465106
—	JOHN HANCOCK BK &THRIFT OPP	22,994	$324K	0.1%	$14.09	$14.09	—	SH BEN INT NEW	409735206
—	EATON VANCE SENIOR INCOME TR	49,263	$308K	0.1%	$6.25	$6.25	—	Mutual Funds	27826S103
—	NEUBERGER BERMAN INCOME OPP	47,313	$297K	0.1%	$6.28	$6.28	—	COM SHS	64126L108
—	MVC CAPITAL INC	24,900	$294K	0.1%	$11.81	$11.81	—	Com	553829102
—	FORT DEARBORN INCOME SECS IN	18,800	$272K	0.1%	$14.47	$14.47	—	Com	347200107
—	STREAM GLOBAL SVCS INC	517,426	$266K	0.1%	$0.51	$0.51	—	*W EXP 10/17/201	86323M118
—	SAMSON OIL & GAS LTD	1,093,300	$262K	0.1%	$0.24	$0.24	—	SPON ADR	796043107
—	WARWICK VALLEY TEL CO	17,350	$227K	0.1%	$13.08	$13.08	—	Com	936750108
—	FIRST TR/FOUR CRNRS SR FLOAT	18,000	$214K	0.1%	$11.89	$11.89	—	Com	33733U108
—	FRANKLIN UNVL TR	35,954	$208K	0.1%	$5.79	$5.79	—	SH BEN INT	355145103
—	ENTERPRISE ACQUISITION CORP	18,999	$189K	0.1%	$9.95	$9.95	—	Com	29365R108
—	H & Q LIFE SCIENCES INVS	18,955	$179K	0.1%	$9.44	$9.44	—	SH BEN INT	404053100
—	DWS DREMAN VAL INCOME EDGE F	14,597	$176K	0.1%	$12.06	$12.06	—	Com	23339M204
—	ROYCE MICRO-CAP TR INC	22,550	$166K	0.1%	$7.36	$7.36	—	Com	780915104
—	LMP CAP & INCOME FD INC	15,100	$156K	0.1%	$10.33	$10.33	—	Com	50208A102
—	GABELLI DIVD & INCOME TR	11,572	$152K	0.1%	$13.14	$13.14	—	Com	36242H104
—	AMERITRANS CAPTL CORPORATION	94,800	$123K	0.1%	$1.30	$1.30	—	Common Stocks	03073H108
—	NUVEEN MULTI STRAT INC & GR	16,300	$122K	0.1%	$7.48	$7.48	—	Com	67073B106
—	ROYCE VALUE TR INC	10,800	$116K	0.1%	$10.74	$10.74	—	Com	780910105
—	RIVERSOURCE LASALLE INTL R/E	15,569	$115K	0.1%	$7.39	$7.39	—	Com	76932W102
—	WINTHROP RLTY TR	10,263	$111K	0.0%	$10.82	$10.82	—	SH BEN INT	976391300
—	MORGAN STANLEY HIGH YIELD FD	15,970	$89,000	0.0%	$5.57	$5.57	—	Com	61744M104
—	LIBERTY ALL STAR EQUITY FD	20,300	$88,000	0.0%	$4.33	$4.33	—	SH BEN INT	530158104
—	ULTIMATE ESCAPES INC	708,100	$85,000	0.0%	$0.12	$0.12	—	*W EXP 10/23/201	90385N113
—	NUVEEN MULTI STRAT INC GR FD	10,000	$77,000	0.0%	$7.70	$7.70	—	COM SHS	67073D102
—	INDIA GLOBALIZATION CAP INC	50,000	$69,000	0.0%	$1.38	$1.38	—	COM	45408X100
—	DCW TOTAL RETURN FD	13,254	$62,000	0.0%	$4.68	$4.68	—	Com	23317C103
—	DCA TOTAL RETURN FD	24,400	$58,000	0.0%	$2.38	$2.38	—	Com	233066109
—	ZWEIG TOTAL RETURN FD INC	14,900	$49,000	0.0%	$3.29	$3.29	—	Com	989837109
—	RMR REAL ESTATE INCOME FD	1,827	$39,000	0.0%	$21.35	$21.35	—	COM SHS	74964K609
—	AVIGEN INC	26,735	$35,000	0.0%	$1.31	$1.31	—	COM	053690103
—	GOLF TR AMER INC	14,500	$29,000	0.0%	$2.00	$2.00	—	Com	38168B103
—	BPW ACQUISITION CORP	13,000	$12,000	0.0%	$0.92	$0.92	—	*W EXP 02/26/201	055637110
—	ATLAS ACQUISITION HLDGS CORP	18,000	$4,000	0.0%	$0.22	$0.22	—	*W EXP 01/23/201	049162118
—	SAPPHIRE INDUSTRIALS CORP	27,500	$3,000	0.0%	$0.11	$0.11	—	*W EXP 01/17/201	80306T117
—	OVERTURE ACQUISITION CORP	14,000	$3,000	0.0%	$0.21	$0.21	—	*W EXP 01/30/201	G6830P118
ORCL	ORACLE CORP	25,000	$0	0.0%	$0.00	—	—	Com	68389X105