Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	INTERVEST BANCSHARES CORP	771,935	$7.758M	5.9%	$9.69	—	COM	460927106
—	CORNERSTONE PROGRESSIVE RTN	454,118	$6.907M	5.3%	$15.21	—	COM NEW	21925C200
—	SAFEGUARD SCIENTIFICS INC	330,285	$6.546M	5.0%	$19.74	—	COM NEW	786449207
—	TRW AUTOMOTIVE HLDGS CORP	58,700	$6.037M	4.6%	$101.85	—	COM	87264S106
—	DIRECTV	66,000	$5.722M	4.4%	$86.37	—	COM	25490A309
—	AVIV REIT INC MD	162,918	$5.617M	4.3%	$34.48	—	COM	05381L101
—	SAFEWAY INC	141,904	$4.984M	3.8%	$34.53	—	COM NEW	786514208
L	LOEWS CORP	117,916	$4.955M	3.8%	$43.26	-8.2%	COM	540424108
—	GLIMCHER RLTY TR	310,996	$4.273M	3.3%	$13.67	—	SH BEN INT	379302102
—	GABELLI EQUITY TR INC	555,168	$3.592M	2.7%	$6.40	—	COM	362397101
—	CAREFUSION CORP	60,000	$3.56M	2.7%	$59.33	—	COM	14170T101
—	PEOPLES FED BANCSHARES INC	156,236	$3.522M	2.7%	$20.66	—	COM	711037101
—	TIME WARNER CABLE INC	23,000	$3.497M	2.7%	$145.61	—	COM	88732J207
—	CORNERSTONE STRATEGIC VALUE	168,596	$3.375M	2.6%	$20.02	—	COM PAR $0.001	21924B302
—	COVANCE INC	31,500	$3.271M	2.5%	$103.84	—	COM	222816100
—	COVIDIEN PLC	28,414	$2.906M	2.2%	$93.82	—	SHS	G2554F113
—	INTERNATIONAL GAME TECHNOLOG	162,503	$2.803M	2.1%	$16.86	—	COM	459902102
—	LIBERTY GLOBAL PLC	51,580	$2.492M	1.9%	$47.10	—	SHS CL C	G5480U120
—	HENNESSY CAP ACQUISITION COR	250,000	$2.463M	1.9%	$9.85	—	COM	425886108
—	SUSQUEHANNA BANCSHARES INC P	181,781	$2.441M	1.9%	$13.43	—	COM	869099101
—	DNP SELECT INCOME FD	227,063	$2.398M	1.8%	$9.57	—	COM	23325P104
—	YAHOO INC	40,400	$2.041M	1.6%	$36.12	—	COM	984332106
TDS	TELEPHONE & DATA SYS INC	78,137	$1.973M	1.5%	$27.61	-10.8%	COM NEW	879433829
—	DRESSER-RAND GROUP INC	21,679	$1.773M	1.4%	$81.78	—	COM	261608103
—	HERITAGE FINL GROUP INC	66,000	$1.709M	1.3%	$25.89	—	COM	42726X102
—	AMER RLTY CAP HEALTHCAR TR I	143,590	$1.709M	1.3%	$10.55	—	COM	02917R108
—	ROI ACQUISITION CORP II	152,281	$1.497M	1.1%	$9.73	—	COM	74966G101
—	YAHOO INC	27,400	$1.384M	1.1%	$36.12	—	Put	984332106
—	PROSENSA HLDG N V	71,406	$1.339M	1.0%	$18.75	—	SHS USD	N71546100
—	NUVEEN GLOBAL HIGH INCOME FD	73,310	$1.265M	1.0%	$17.26	—	SHS	67075G103
—	CBS CORP NEW	21,881	$1.211M	0.9%	$56.78	—	CL B	124857202
—	NICHOLAS FINANCIAL INC	79,466	$1.184M	0.9%	$15.15	—	COM NEW	65373J209
—	BIGLARI HLDGS INC	2,899	$1.158M	0.9%	$347.50	—	COM	08986R101
—	LEVY ACQUISITION CORP	116,513	$1.134M	0.9%	$9.73	—	COM	52748T104
—	REAVES UTIL INCOME FD	34,319	$1.127M	0.9%	$25.89	—	COM SH BEN INT	756158101
—	PLATINUM UNDERWRITER HLDGS L	15,312	$1.124M	0.9%	$73.41	—	COM	G7127P100
—	RIVERBED TECHNOLOGY INC	53,886	$1.1M	0.8%	$19.67	—	COM	768573107
—	VIASYSTEMS GROUP INC	64,481	$1.05M	0.8%	$16.28	—	COM PAR$.01	92553H803
—	CORNERSTONE TOTAL RTRN FD IN	44,114	$856K	0.7%	$19.40	—	COM PAR $0.01	21924U300
—	DISCOVERY COMMUNICATNS NEW	24,457	$825K	0.6%	$33.73	—	COM SER C	25470F302
—	NEUBERGER BERMAN RE ES SEC F	151,351	$801K	0.6%	$4.87	—	COM	64190A103
—	VALLEY FINL CORP VA	36,477	$723K	0.6%	$19.82	—	COM	919629105
SBSI	SOUTHSIDE BANCSHARES INC	23,256	$672K	0.5%	$29.86	0.0%	COM	84470P109
—	BDCA VENTURE INC	129,581	$634K	0.5%	$5.25	—	COM	05543L106
—	NUVEEN MUN ADVANTAGE FD INC	45,158	$617K	0.5%	$13.49	—	COM	67062H106
SVVC	FIRSTHAND TECH VALUE FD INC	32,700	$610K	0.5%	$22.26	-1.7%	COM	33766Y100
—	HARVEST NATURAL RESOURCES IN	333,034	$603K	0.5%	$4.07	—	COM	41754V103
—	LIBERTY ALL STAR EQUITY FD	99,885	$597K	0.5%	$5.87	—	SH BEN INT	530158104
—	BROOKFIELD TOTAL RETURN FD I	24,490	$596K	0.5%	$23.77	—	COM	11283U108
SBSI	SOUTHSIDE BANCSHARES INC	19,800	$572K	0.4%	$29.86	0.0%	Put	84470P109
—	COLONIAL FINL SVCS INC	39,251	$526K	0.4%	$13.36	—	COM	19566B101
—	GABELLI GLOBL UTIL & INCOME	26,317	$511K	0.4%	$20.04	—	COM SH BEN INT	36242L105
OXY	OCCIDENTAL PETE CORP DEL	6,000	$484K	0.4%	$63.89	-7.2%	COM	674599105
—	REALNETWORKS INC	64,675	$455K	0.3%	$7.55	—	COM NEW	75605L708
—	AVENUE INCOME CR STRATEGIES	29,808	$450K	0.3%	$17.58	—	COM	05358E106
TPH	TRI POINTE HOMES INC	28,023	$427K	0.3%	$15.44	-7.7%	COM	87265H109
—	SIRIUS XM HLDGS INC	105,000	$368K	0.3%	$3.23	—	COM	82968B103
—	AR CAP ACQUISITION CORP	33,500	$331K	0.3%	$9.88	—	UNIT 99/99/9999	00191R208
—	NUVEEN DIVID ADVANTAGE MUN I	22,672	$320K	0.2%	$14.10	—	COM	67071L106
—	VMWARE INC	3,840	$317K	0.2%	$82.55	—	CL A COM	928563402
—	CHIQUITA BRANDS INTL INC	20,195	$292K	0.2%	$14.46	—	COM	170032809
—	MODUSLINK GLOBAL SOLUTIONS I	75,970	$285K	0.2%	$4.65	—	COM	60786L107
—	INTERNATIONAL RECTIFIER CORP	7,033	$281K	0.2%	$39.95	—	COM	460254105
LBRDK	LIBERTY BROADBAND CORP	5,618	$280K	0.2%	$46.10	0.0%	COM SER C	530307305
—	HAMPDEN BANCORP INC	12,698	$269K	0.2%	$21.18	—	COM	40867E107
—	GABELLI HLTHCARE & WELLNESS	24,642	$257K	0.2%	$9.90	—	SHS	36246K103
—	OXFORD LANE CAP CORP	16,532	$247K	0.2%	$16.69	—	COM	691543102
—	COHEN & STEERS TOTAL RETURN	17,079	$225K	0.2%	$12.39	—	COM	19247R103
VOD	VODAFONE GROUP PLC NEW	6,544	$224K	0.2%	$36.83	—	SPNSR ADR NO PAR	92857W308
—	DELAWARE INVTS DIV & INCOME	22,364	$220K	0.2%	$10.44	—	COM	245915103
—	INTERNET PATENTS CORP	77,354	$215K	0.2%	$3.01	—	COM	46063G101
FNF	FIDELITY NATIONAL FINANCIAL	5,891	$203K	0.2%	$12.73	+10.5%	FNF GROUP COM	31620R303
—	GLOBAL DEFENSE & NATL SEC SY	19,263	$199K	0.2%	$10.23	—	COM	37953N108
—	WRIGHT MED GROUP INC	38,308	$183K	0.1%	$0.66	—	RIGHT 03/01/2019	98235T115
—	WINTHROP RLTY TR	11,532	$180K	0.1%	$15.61	—	SH BEN INT NEW	976391300
—	AMERICAN CAP LTD	11,000	$161K	0.1%	$14.64	—	COM	02503Y103
HBIO	HARVARD BIOSCIENCE INC	28,408	$161K	0.1%	$4.37	+9.1%	COM	416906105
—	ZYNGA INC	60,500	$161K	0.1%	$3.21	—	CL A	98986T108
—	TIVO INC	12,000	$142K	0.1%	$11.83	—	COM	888706108
—	SANOFI	164,477	$130K	0.1%	$0.34	—	RIGHT 12/31/2020	80105N113
—	CASCADE BANCORP	24,020	$125K	0.1%	$5.20	—	COM NEW	147154207
—	FIDELITY NATIONAL FINANCIAL	7,579	$119K	0.1%	$13.72	—	FNFV GROUP COM	31620R402
—	MERGE HEALTHCARE INC	30,800	$110K	0.1%	$2.31	—	COM	589499102
KOPN	KOPIN CORP	25,412	$92,000	0.1%	$3.84	-10.4%	COM	500600101
—	QLT INC	22,804	$91,000	0.1%	$5.30	—	COM	746927102
—	ENDOCYTE INC	14,200	$89,000	0.1%	$6.62	—	COM	29269A102
—	RENTECH INC	66,668	$84,000	0.1%	$1.75	—	COM	760112102
—	MONSTER WORLDWIDE INC	16,050	$74,000	0.1%	$6.54	—	COM	611742107
—	SIZMEK INC	10,354	$65,000	0.0%	$9.56	—	COM	83013P105
—	GFI GROUP INC	12,000	$65,000	0.0%	$5.42	—	COM	361652209
—	COVISINT CORP	19,110	$51,000	0.0%	$2.67	—	COM	22357R103
LUNA	LUNA INNOVATIONS	35,000	$50,000	0.0%	$1.53	-9.1%	COM	550351100
—	LIFEVANTAGE CORP	32,161	$42,000	0.0%	$1.65	—	COM	53222K106
—	TRANS WORLD ENTMT CORP	10,400	$34,000	0.0%	$3.85	—	COM	89336Q100
LTRE	LEARNING TREE INTL INC	17,988	$31,000	0.0%	$3.09	-26.8%	COM	522015106
—	SAMSON OIL & GAS LTD	141,204	$28,000	0.0%	$0.42	—	SPON ADR	796043107
GULTU	GULF COAST ULTRA DEEP RTY TR	14,923	$19,000	0.0%	$2.95	—	ROYALTY TR UNT	40222T104
—	LIBERTY BROADBAND CORP	1,124	$11,000	0.0%	$9.79	—	RIGHT 01/09/2015	530307115
—	CUBIST PHARMACEUTICALS INC	196,892	$8,000	0.0%	$1.28	—	RIGHT 99/99/9999	229678123