Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	FAMILY DLR STORES INC	160,598	$12.66M	6.7%	$79.06	—	COM	307000109
—	DIRECTV	120,700	$11.2M	5.9%	$88.31	—	COM	25490A309
—	HERITAGE FINL GROUP INC	289,180	$8.727M	4.6%	$26.93	—	COM	42726X102
—	CITY NATL CORP	88,200	$7.972M	4.2%	$89.94	—	COM	178566105
—	BABCOCK & WILCOX CO NEW	225,000	$7.38M	3.9%	$32.80	—	COM	05615F102
L	LOEWS CORP	189,000	$7.278M	3.8%	$41.13	-6.0%	COM	540424108
—	DISCOVERY COMMUNICATNS NEW	222,196	$6.906M	3.6%	$31.15	—	COM SER C	25470F302
—	SAFEGUARD SCIENTIFICS INC	343,447	$6.683M	3.5%	$19.65	—	COM NEW	786449207
—	LIBERTY GLOBAL PLC	131,085	$6.637M	3.5%	$49.12	—	SHS CL C	G5480U120
—	CORNERSTONE STRATEGIC VALUE	291,876	$6.1M	3.2%	$20.47	—	COM PAR $0.001	21924B302
—	YAHOO INC	152,000	$5.972M	3.1%	$39.80	—	COM	984332106
—	ALLIANCE BANCORP INC PA NEW	223,575	$5.095M	2.7%	$22.28	—	COM	01890A108
—	SUSQUEHANNA BANCSHARES INC P	247,781	$3.499M	1.8%	$13.56	—	COM	869099101
—	GABELLI EQUITY TR INC	555,168	$3.475M	1.8%	$6.40	—	COM	362397101
—	HOME PROPERTIES INC	46,646	$3.407M	1.8%	$73.04	—	COM	437306103
—	BRIDGE CAP HLDGS	110,700	$3.299M	1.7%	$29.80	—	COM	108030107
—	HOSPIRA INC	34,373	$3.049M	1.6%	$88.06	—	COM	441060100
—	ROSETTA RESOURCES INC	131,407	$3.041M	1.6%	$23.14	—	COM	777779307
—	MEADWESTVACO CORP	62,420	$2.946M	1.6%	$47.20	—	COM	583334107
—	GARNERO GROUP ACQUISITION CO	297,000	$2.917M	1.5%	$9.82	—	SHS	G5866L108
—	PMFG INC	415,325	$2.671M	1.4%	$6.43	—	COM	69345P103
NI	NISOURCE INC	55,000	$2.507M	1.3%	$12.70	0.0%	COM	65473P105
—	GLOBAL DEFENSE & NATL SEC SY	211,963	$2.226M	1.2%	$10.48	—	COM	37953N108
—	MCG CAPITAL CORP	481,158	$2.194M	1.2%	$4.44	—	COM	58047P107
—	ONEIDA FINL CORP MD	94,616	$1.935M	1.0%	$20.45	—	COM	682479100
—	RTI INTL METALS INC	60,711	$1.914M	1.0%	$33.30	—	COM	74973W107
—	VALLEY FINL CORP VA	89,001	$1.901M	1.0%	$20.12	—	COM	919629105
—	DRESSER-RAND GROUP INC	21,679	$1.847M	1.0%	$81.78	—	COM	261608103
—	CATAMARAN CORP	30,200	$1.845M	1.0%	$61.09	—	COM	148887102
—	NEUBERGER BERMAN RE ES SEC F	375,004	$1.778M	0.9%	$4.84	—	COM	64190A103
—	COMMUNICATIONS SALES&LEAS IN	71,914	$1.778M	0.9%	$24.72	—	COM	20341J104
—	VIDEOCON D2H LTD	136,979	$1.727M	0.9%	$12.61	—	ADR	92657J101
—	CLECO CORP NEW	30,528	$1.644M	0.9%	$54.26	—	COM	12561W105
—	ROI ACQUISITION CORP II	152,281	$1.561M	0.8%	$9.73	—	COM	74966G101
WEN	WENDYS CO	130,200	$1.469M	0.8%	$11.02	0.0%	COM	95058W100
—	AUDIENCE INC	291,345	$1.425M	0.8%	$4.89	—	COM	05070J102
—	HOSPIRA INC	15,000	$1.331M	0.7%	$88.06	—	Call	441060100
—	HUDSON VALLEY HOLDING CORP	45,442	$1.282M	0.7%	$25.86	—	COM	444172100
—	E M C CORP MASS	48,000	$1.267M	0.7%	$26.40	—	COM	268648102
—	SIGMA ALDRICH CORP	9,000	$1.254M	0.7%	$139.33	—	COM	826552101
—	BROADCOM CORP	24,000	$1.236M	0.7%	—	—	Put	111320107
—	CYAN INC	221,968	$1.163M	0.6%	$5.24	—	COM	23247W104
—	OMNICARE INC	12,000	$1.131M	0.6%	$94.25	—	COM	681904108
—	LNB BANCORP INC	60,000	$1.11M	0.6%	$17.83	—	COM	502100100
—	HYDRA INDS ACQUISITION CORP	112,015	$1.083M	0.6%	$9.67	—	COM	448740100
—	LMP REAL ESTATE INCOME FD IN	87,530	$1.024M	0.5%	$11.70	—	COM	50208C108
CPRT	COPART INC	27,100	$962K	0.5%	$4.51	0.0%	COM	217204106
—	NUVEEN LG/SHT COMMODITY TOTR	58,299	$958K	0.5%	$16.43	—	COM UT BEN INT	670731108
—	RENTECH INC	862,545	$923K	0.5%	$1.16	—	COM	760112102
ULH	UNIVERSAL TRUCKLOAD SVCS INC	41,941	$921K	0.5%	$21.39	0.0%	COM	91388P105
—	CENTER COAST MLP & INFRSTR F	59,217	$904K	0.5%	$15.27	—	COM SHS	151461100
—	CHINA MOBILE GAMES & ENTMT G	42,300	$894K	0.5%	$21.13	—	SPONSORED ADR	16952T100
—	POLYPORE INTL INC	14,800	$886K	0.5%	$59.86	—	COM	73179V103
—	REAVES UTIL INCOME FD	29,616	$849K	0.4%	$25.89	—	COM SH BEN INT	756158101
—	BIGLARI HLDGS INC	1,970	$815K	0.4%	$347.50	—	COM	08986R101
—	DNP SELECT INCOME FD	78,401	$793K	0.4%	$9.57	—	COM	23325P104
—	HARMONY MERGER CORP	75,000	$762K	0.4%	$10.00	—	UNIT 99/99/9999	413247206
—	PEPCO HOLDINGS INC	27,259	$734K	0.4%	$26.93	—	COM	713291102
—	LEVY ACQUISITION CORP	46,444	$707K	0.4%	$9.73	—	COM	52748T104
TDS	TELEPHONE & DATA SYS INC	23,691	$697K	0.4%	$27.61	+3.9%	COM NEW	879433829
—	QUINPARIO ACQUISITION CORP 2	63,850	$635K	0.3%	$9.95	—	COM	74874U101
—	TIME WARNER CABLE INC	3,500	$624K	0.3%	$145.61	—	COM	88732J207
—	PALMETTO BANCSHARES INC	31,403	$621K	0.3%	$19.78	—	COM NEW	697062206
—	NUVEEN GLOBAL HIGH INCOME FD	36,727	$614K	0.3%	$17.26	—	SHS	67075G103
—	EXCEL TR INC	37,738	$595K	0.3%	$15.77	—	COM	30068C109
—	BDCA VENTURE INC	129,581	$583K	0.3%	$5.25	—	COM	05543L106
—	INFORMATICA CORP	12,000	$582K	0.3%	$48.50	—	COM	45666Q102
—	LIBERTY ALL STAR EQUITY FD	100,186	$576K	0.3%	$5.87	—	SH BEN INT	530158104
—	IGATE CORP	12,000	$572K	0.3%	$47.67	—	COM	45169U105
—	BROOKFIELD TOTAL RETURN FD I	24,490	$548K	0.3%	$23.77	—	COM	11283U108
PPL	PPL CORP	18,000	$530K	0.3%	$19.41	0.0%	COM	69351T106
—	OMNIVISION TECHNOLOGIES INC	20,039	$525K	0.3%	$26.35	—	COM	682128103
—	CATAMARAN CORP	8,000	$489K	0.3%	$61.09	—	Call	148887102
—	BROOKFIELD GLOBL LISTED INFR	29,120	$482K	0.3%	$16.55	—	COM SHS	11273Q109
VC	VISTEON CORP	4,500	$472K	0.2%	$60.70	0.0%	COM NEW	92839U206
OXY	OCCIDENTAL PETE CORP DEL	6,000	$467K	0.2%	$63.89	-11.0%	COM	674599105
—	QLT INC	109,340	$452K	0.2%	$4.28	—	COM	746927102
—	GABELLI GLOBL UTIL & INCOME	24,652	$448K	0.2%	$20.04	—	COM SH BEN INT	36242L105
—	HARVEST NATURAL RESOURCES IN	245,107	$429K	0.2%	$4.07	—	COM	41754V103
—	AVENUE INCOME CR STRATEGIES	29,808	$424K	0.2%	$17.58	—	COM	05358E106
—	INTERNET PATENTS CORP	130,165	$393K	0.2%	$2.99	—	COM	46063G101
—	ALLIANCEBERNSTEIN INCOME FUN	45,848	$341K	0.2%	$7.44	—	COM	01881E101
—	AR CAP ACQUISITION CORP	33,500	$338K	0.2%	$9.88	—	UNIT 10/06/2019	00191R208
—	SIRIUS XM HLDGS INC	89,133	$332K	0.2%	$3.23	—	COM	82968B103
—	NUVEEN DIVERSIFIED COMMODTY	26,165	$312K	0.2%	$11.92	—	COM UT BEN INT	67074P104
—	CBS CORP NEW	5,191	$288K	0.2%	$56.78	—	CL B	124857202
—	REALD INC	22,600	$279K	0.1%	$12.79	—	COM	75604L105
SVVC	FIRSTHAND TECH VALUE FD INC	21,139	$273K	0.1%	$22.26	-35.2%	COM	33766Y100
—	MODUSLINK GLOBAL SOLUTIONS I	75,970	$258K	0.1%	$3.84	—	COM NEW	60786L206
—	GLOBAL NET LEASE INC	28,840	$255K	0.1%	$8.84	—	COM	379378102
—	REALNETWORKS INC	45,570	$247K	0.1%	$7.55	—	COM NEW	75605L708
—	BARINGTON HILCO ACQUISITION	24,740	$241K	0.1%	$9.74	—	COM	06759V101
VOD	VODAFONE GROUP PLC NEW	6,544	$239K	0.1%	$36.83	—	SPNSR ADR NO PAR	92857W308
—	TIVO INC	22,300	$226K	0.1%	$11.28	—	COM	888706108
FNF	FIDELITY NATIONAL FINANCIAL	5,891	$218K	0.1%	$12.73	+35.8%	FNF GROUP COM	31620R303
—	KCG HLDGS INC	17,448	$215K	0.1%	$12.32	—	CL A	48244B100
—	COHEN & STEERS TOTAL RETURN	17,079	$208K	0.1%	$12.39	—	COM	19247R103
—	DELAWARE INVTS DIV & INCOME	20,764	$206K	0.1%	$10.44	—	COM	245915103
PAMT	P A M TRANSN SVCS INC	3,500	$203K	0.1%	$14.80	0.0%	COM	693149106
—	A H BELO CORP	35,942	$201K	0.1%	$6.97	—	COM CL A	001282102
BRSL	INTERNATIONAL GAME TECHNOLOG	10,609	$188K	0.1%	$10.73	0.0%	SHS USD	G4863A108
—	ZYNGA INC	60,500	$173K	0.1%	$3.21	—	CL A	98986T108
—	WRIGHT MED GROUP INC	38,308	$153K	0.1%	$0.66	—	RIGHT 03/01/2019	98235T115
—	MITEL NETWORKS CORP	15,021	$133K	0.1%	$8.85	—	COM	60671Q104
—	C B PHARMA ACQUISITION CORP	12,500	$124K	0.1%	$9.92	—	SHS	G2029P126
—	FIDELITY NATIONAL FINANCIAL	7,634	$117K	0.1%	$13.72	—	FNFV GROUP COM	31620R402
—	SANOFI	164,477	$115K	0.1%	$0.34	—	RIGHT 12/31/2020	80105N113
KOPN	KOPIN CORP	25,412	$88,000	0.0%	$3.84	-7.0%	COM	500600101
—	WINDSTREAM HLDGS INC	13,500	$86,000	0.0%	$6.37	—	COM NEW	97382A200
—	FULL CIRCLE CAP CORP	21,700	$77,000	0.0%	$3.55	—	COM	359671104
—	ENDOCYTE INC	14,200	$74,000	0.0%	$6.62	—	COM	29269A102
—	SIZMEK INC	10,354	$74,000	0.0%	$9.56	—	COM	83013P105
—	COVISINT CORP	19,110	$62,000	0.0%	$2.67	—	COM	22357R103
—	TRANS WORLD ENTMT CORP	10,400	$38,000	0.0%	$3.85	—	COM	89336Q100
LUNA	LUNA INNOVATIONS	34,483	$36,000	0.0%	$1.53	-19.9%	COM	550351100
LTRE	LEARNING TREE INTL INC	17,988	$23,000	0.0%	$3.09	-55.6%	COM	522015106
—	LIFEVANTAGE CORP	32,161	$17,000	0.0%	$1.65	—	COM	53222K106
—	SAMSON OIL & GAS LTD	14,119	$13,000	0.0%	$1.42	—	SPON ADR NEW	796043206
GULTU	GULF COAST ULTRA DEEP RTY TR	14,923	$10,000	0.0%	$2.95	—	ROYALTY TR UNT	40222T104