Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	AMERICAN CAP LTD	1,688,660	$30.26M	14.8%	$17.03	—	COM	02503Y103
—	RITE AID CORP	1,531,272	$12.62M	6.2%	$7.89	—	COM	767754104
—	YAHOO INC	255,925	$9.897M	4.8%	$38.32	—	COM	984332106
—	MEDIA GEN INC NEW	493,893	$9.3M	4.5%	$17.86	—	COM	58441K100
—	SPECTRA ENERGY CORP	218,450	$8.976M	4.4%	$41.09	—	COM	847560109
—	ST JUDE MED INC	88,000	$7.057M	3.4%	$78.30	—	COM	790849103
—	SAFEGUARD SCIENTIFICS INC	475,138	$6.391M	3.1%	$18.08	—	COM NEW	786449207
—	SYNGENTA AG	80,368	$6.353M	3.1%	$79.05	—	SPONSORED ADR	87160A100
—	WESTERN REFNG INC	144,115	$5.455M	2.7%	$37.85	—	COM	959319104
—	BOULEVARD ACQUISITION	519,500	$5.278M	2.6%	$9.96	—	UNIT 99/99/9999	10157Q201
—	WHITEWAVE FOODS CO	87,000	$4.837M	2.4%	$55.33	—	COM	966244105
—	DOUBLE EAGLE ACQUISITION COR	444,000	$4.684M	2.3%	$10.14	—	UNIT 99/99/9999	G28195108
—	WESTAR ENERGY INC	81,337	$4.583M	2.2%	$56.34	—	COM	95709T100
—	BROADCOM LTD	24,000	$4.242M	2.1%	$155.00	—	Put	Y09827109
—	CABELAS INC	66,200	$3.876M	1.9%	$58.55	—	COM	126804301
—	TIME WARNER INC	40,000	$3.861M	1.9%	$96.53	—	COM NEW	887317303
—	CORNERSTONE STRATEGIC VALUE	235,072	$3.566M	1.7%	$15.17	—	COM	21924B302
—	LIBERTY GLOBAL PLC	156,628	$3.316M	1.6%	$24.57	—	LILAC SHS CL C	G5480U153
—	ORIGO ACQUISITION CORP	309,070	$3.214M	1.6%	$10.40	—	SHS	G67789126
—	B/E AEROSPACE INC	53,000	$3.19M	1.6%	$60.19	—	COM	073302101
—	REAVES UTIL INCOME FD	100,500	$3.086M	1.5%	$25.97	—	COM SH BEN INT	756158101
—	NEUBERGER BERMAN RE ES SEC F	550,467	$2.956M	1.4%	$5.19	—	COM	64190A103
KLAC	KLA-TENCOR CORP	37,268	$2.932M	1.4%	$55.00	+19.5%	COM	482480100
LBTYAUSD	LIBERTY GLOBAL PLC	92,610	$2.833M	1.4%	$30.91	—	SHS CL A	G5480U104
COTY	COTY INC	151,294	$2.77M	1.4%	$18.17	0.0%	COM CL A	222070203
—	CST BRANDS INC	55,299	$2.663M	1.3%	$48.16	—	COM	12646R105
—	MIDDLEBURG FINANCIAL CORP	76,253	$2.65M	1.3%	$34.75	—	COM	596094102
—	WHITEWAVE FOODS CO	46,600	$2.591M	1.3%	$55.33	—	Call	966244105
—	QUINPARIO ACQUISITION CORP 2	243,850	$2.426M	1.2%	$9.76	—	COM	74874U101
—	WHITEWAVE FOODS CO	40,900	$2.274M	1.1%	$55.33	—	Put	966244105
—	DISCOVERY COMMUNICATNS NEW	78,111	$2.141M	1.0%	$26.08	—	COM SER A	25470F104
—	ANDINA ACQUISITION CORP II	187,500	$1.964M	1.0%	$9.92	—	UNIT 99/99/9999	G0441P112
—	INTEROIL CORP	37,842	$1.801M	0.9%	$49.81	—	COM	460951106
—	GABELLI EQUITY TR INC	313,808	$1.732M	0.8%	$6.40	—	COM	362397101
—	ALLERGAN PLC	8,235	$1.729M	0.8%	$268.04	—	SHS	G0177J108
—	SUFFOLK BANCORP	38,676	$1.656M	0.8%	$31.31	—	COM	864739107
—	VIACOM INC NEW	45,334	$1.591M	0.8%	$41.21	—	CL B	92553P201
—	AVISTA HEALTHCARE PUB ACQ CO	150,000	$1.519M	0.7%	$10.13	—	UNIT 99/99/9999	G0726L109
—	WEBMD HEALTH CORP	29,062	$1.441M	0.7%	$49.58	—	COM	94770V102
—	ENDURANCE SPECIALTY HLDGS LT	14,205	$1.313M	0.6%	$92.43	—	SHS	G30397106
—	ELECTRUM SPL ACQUISITION COR	129,645	$1.285M	0.6%	$9.65	—	SHS	G3105C104
—	FIDELITY & GTY LIFE	53,000	$1.256M	0.6%	$23.19	—	COM	315785105
—	HENNESSY CAP ACQUISITION COR	120,000	$1.21M	0.6%	$9.68	—	COM	42588J100
—	MERCHANTS BANCSHARES	20,465	$1.109M	0.5%	$54.19	—	COM	588448100
—	TRIBUNE MEDIA CO	31,400	$1.098M	0.5%	$34.97	—	CL A	896047503
—	CASCADE BANCORP	126,500	$1.027M	0.5%	$8.12	—	COM NEW	147154207
—	DELL TECHNOLOGIES INC	17,539	$964K	0.5%	$47.81	—	COM CL V	24703L103
—	HARVEST NATURAL RESOURCES IN	153,375	$948K	0.5%	$6.18	—	COM NEW	41754V202
—	HARMONY MERGER CORP	90,000	$911K	0.4%	$9.76	—	COM	413247107
—	G & K SVCS INC	8,408	$811K	0.4%	$96.46	—	CL A	361268105
—	HARMONY MERGER CORP	75,000	$773K	0.4%	$10.00	—	UNIT 99/99/9999	413247206
—	BROCADE COMMUNICATIONS SYS I	60,100	$751K	0.4%	$12.50	—	COM NEW	111621306
—	GP INVTS ACQUISITION COR	72,301	$716K	0.3%	$9.72	—	SHS	G40357124
—	NORTHSTAR ASSET MGMT GROUP I	42,353	$632K	0.3%	$14.92	—	COM	66705Y104
PFLT	PENNANTPARK FLOATING RATE CA	41,160	$581K	0.3%	$4.46	+16.8%	COM	70806A106
—	GAS NAT INC	44,680	$561K	0.3%	$12.56	—	COM	367204104
—	WELLS FARGO MULTI SECTOR INC	40,100	$514K	0.3%	$12.82	—	COM	94987D101
—	LIBERTY ALL STAR EQUITY FD	92,538	$477K	0.2%	$5.87	—	SH BEN INT	530158104
—	VIDEOCON D2H LTD	47,423	$390K	0.2%	$12.61	—	ADR	92657J101
—	AVENUE INCOME CR STRATEGIES	28,482	$383K	0.2%	$17.58	—	COM	05358E106
—	BOULEVARD ACQUISITION	38,319	$379K	0.2%	$9.84	—	CL A	10157Q102
—	DIVIDEND & INCOME FUND	29,306	$347K	0.2%	$11.02	—	COM NEW	25538A204
—	RENTECH INC	131,249	$325K	0.2%	$4.31	—	COM NEW	760112201
—	CROSSROADS CAP INC	142,096	$303K	0.1%	$3.13	—	COM	227656105
XLU	SELECT SECTOR SPDR TR	5,580	$271K	0.1%	$48.57	—	SBI INT-UTILS	81369Y886
—	VALSPAR CORP	2,600	$269K	0.1%	$103.46	—	COM	920355104
—	BARINGTON HILCO ACQUISITION	24,740	$251K	0.1%	$9.74	—	COM	06759V101
—	FIDELITY NATIONAL FINANCIAL	17,563	$241K	0.1%	$12.60	—	FNFV GROUP COM	31620R402
—	A H BELO CORP	35,942	$228K	0.1%	$6.97	—	COM CL A	001282102
SVVC	FIRSTHAND TECH VALUE FD INC	21,139	$162K	0.1%	$22.26	-64.1%	COM	33766Y100
—	REALNETWORKS INC	28,576	$139K	0.1%	$7.55	—	COM NEW	75605L708
—	ADVENT CLAYMORE ENH GRW & IN	15,555	$129K	0.1%	$8.29	—	COM	00765E104
—	MODUSLINK GLOBAL SOLUTIONS I	69,804	$102K	0.0%	$3.84	—	COM NEW	60786L206
KOPN	KOPIN CORP	23,746	$67,000	0.0%	$3.84	-36.8%	COM	500600101
—	SANOFI	155,177	$59,000	0.0%	$0.34	—	RIGHT 12/31/2020	80105N113
LUNA	LUNA INNOVATIONS	34,483	$51,000	0.0%	$1.53	-10.5%	COM	550351100
—	WRIGHT MED GROUP N V	38,308	$51,000	0.0%	$1.02	—	RIGHT 03/01/2019	N96617126
PRZM	PRISM TECHNOLOGIES GROUP INC	132,586	$40,000	0.0%	$2.97	-92.6%	COM	74273Y100
—	ENDOCYTE INC	14,200	$36,000	0.0%	$6.62	—	COM	29269A102
—	COVISINT CORP	18,549	$35,000	0.0%	$2.67	—	COM	22357R103
—	TRANS WORLD ENTMT CORP	10,400	$34,000	0.0%	$3.85	—	COM	89336Q100
—	BROADCOM LTD	98	$17,000	0.0%	$155.00	—	SHS	Y09827109
—	AXAR ACQUISITION CORP	142,500	$11,000	0.0%	$0.08	—	*W EXP 12/31/202	05455L110
—	SAMSON OIL & GAS LTD	14,119	$10,000	0.0%	$1.42	—	SPON ADR NEW	796043206