UNITED STATES
                 SECURITIES AND EXCHANGE COMMISSION
                        Washington, DC 20549

                            SCHEDULE 13G
            Under the Securities and Exchange Act of 1934
                         (Amendment No. __)

                      J. Alexanders Corporation
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                         (Name of Issuer)

                            Common Stock
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                  (Title of Class of Securities)

                             466096104
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                          (CUSIP Number)

                         December 31, 2010
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    (Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to
which this Schedule is filed:

          [X]     Rule 13d-1 (b)
          [ ]     Rule 13d-1 (c)
          [ ]     Rule 13d-1 (d)

* The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect to
the subject class of securities, and for any subsequent amendment
containing information which would alter the disclosures provided
in a prior cover page.

The information required in the remainder of this cover page
shall not be deemed to be "filed" for the purpose of Section 18
of the Securities Exchange Act of 1934 ("Act") or otherwise
subject to the liabilities of that section of the Act, but shall
be subject to all other provisions of the Act (however, see
the Notes.)


CUSIP NO. 466096104   13G


1     Name of Reporting Person / IRS Identification Number:
      Piper Jaffray Companies / 30-0168701

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2     Check the Appropriate Box if a Member of a Group    (a)  [ ]
      			                                  (b)  [ ]

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3     SEC Use Only

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4     Citizenship or Place of Organization
      Delaware

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   Number of
                   5     Sole Voting Power
    Shares               532,815 Shares
                   -----------------------------------------------
 Beneficially
                   6     Shared Voting Power
   Owned By              0 Shares
                   -----------------------------------------------
     Each
                   7     Sole Dispositive Power
   Reporting             532,815 Shares
                   -----------------------------------------------
    Person
                   8     Shared Dispositive Power
     With                0 Shares
- ------------------------------------------------------------------
9     Aggregate Amount Beneficially Owned by Each Reporting Person
      532,815 Shares  (See Exhibit A)

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10    Check if the Aggregate Amount in Row (9) Excludes Certain
      Shares  [ ]

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11    Percent of Class Represented by Amount in Row (9)
      8.94%

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12    Type of Reporting Person
      HC

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Item 1     (a)  Name of Issuer: J. Alexanders Corporation
Item 1     (b)  Name of Issuer's Principal Executive Offices:
		3401 West End Avenue
		PO Box 24300
  		Nashville, Tennessee 37203

Item 2     (a)  Person Filing: Piper Jaffray Companies
Item 2     (b)  Address: 800 Nicollet Mall Suite 800
                         Minneapolis, MN 55402

Item 2     (c)  Citizenship: Piper Jaffray Companies is a
                             Delaware Corporation

Item 2     (d)  Title of Class of Securities: Common Stock
Item 2     (e)  CUSIP Number: 466096104

Item 3     This statement is filed pursuant to Rule 13d-1(b) or
           13d-2(b) and the person filing, Piper Jaffray Companies,
           is a parent holding company in accordance with Section
           240.13d-1(b)(ii)(G). (Note: See Item 7).

Item 4     Ownership

           (a)  Amount Beneficially Owned:
                Advisory Research, Inc.    532,815 Shares

           (b)  Percent of Class           8.94%

           (c)  Number of shares as to which reporting person has:
                (i)    Sole Voting Power        532,815 Shares
                (ii)   Shared Voting Power      0       Shares
                (iii)  Sole Dispositive Power   532,815 Shares
                (iv)   Shared Dispositive Power 0       Shares

Item 5     Ownership of Five Percent or Less of a Class:
           If this statement is being filed to report the fact
           that as of the date hereof the reporting person has
           ceased to be the beneficial owner of more than five
           percent of the class of securities, check the
           following [ ]

Item 6     Ownership of More than Five Percent on Behalf of Another
	   Person:  The clients referenced in Exhibit A have the
	   right to receive or the power to direct the receipt of
	   dividends from, or the proceeds from the sale of the
	   securities held in their respective accounts. No client's
	   interest is known to exceed 5% of the class of securities.

Item 7     Identification and Classification of the Subsidiary
           Which Acquired the Security being Reported on by the
           Parent Holding Company:

           See attached Exhibit A.

Item 8     Identification and Classification if Members of
           the Group:  Not Applicable

Item 9     Notice of Dissolution of Group:  Not Applicable

Item 10    Certification

           By signing below I certify that, to the best of my
           knowledge and belief, the securities referred to
           above were acquired and are held in the ordinary
           course of business and were not acquired and are
           not held for the purpose of or with the effect of
           changing or influencing the control of the issuer
           of such securities and were not acquired and are
           not held in connection with or as a participant
           in any transaction having such purposes or effect.

			SIGNATURE

After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this
statement is true, complete and correct.

			2/10/2011
			----------------------------------
			Date

			Piper Jaffray Companies

			By /s/ Brien M. O'Brien
			----------------------------------
			Signature

			Brien M. O'Brien
			Head of Asset Management
			----------------------------------
			Name/Title


			Advisory Research, Inc.

			By /s/ Brien M. O'Brien
			----------------------------------
			Signature

			Brien M. O'Brien
			Chief Executive Officer
			----------------------------------
			Name/Title



              JOINT FILING AGREEMENT

The undersigned persons, on February 10, 2011, agree and consent
to the joint filing on their behalf of this Schedule 13G
in connection with their beneficial ownership of the Common
Stock of J. Alexanders Corporation  at December 31, 2010.


			Piper Jaffray Companies

			By /s/ Brien M. O'Brien
			----------------------------------
			Signature

			Brien M. O'Brien
			Head of Asset Management
			----------------------------------
			Name/Title


			Advisory Research, Inc.

			By /s/ Brien M. O'Brien
			----------------------------------
			Signature

			Brien M. O'Brien
			Chief Executive Officer
			----------------------------------
			Name/Title



                       EXHIBIT A

Pursuant to the instructions in Item 7 of Schedule 13G, Advisory
Research, Inc. ("ARI"), 180 N. Stetson, Chicago, IL 60601, a
wholly-owned subsidiary of Piper Jaffray Companies and an
investment adviser registered under Section 203 of the
Investment Advisers Act of 1940, is the beneficial owner of
532,815 shares or 8.94% of the Common Stock outstanding
of J. Alexanders Corporation  ("the Company") as a result of
acting as investment adviser to various clients.

Piper Jaffray Companies may be deemed to be the beneficial owner
of these 532,815 shares through control of ARI.  However, Piper
Jaffray Companies disclaims beneficial ownership of such shares.
In addition, the filing of this Schedule 13G shall not be construed
as an admission that the reporting person or any of its affiliates
is the beneficial owner of any securities covered by this Schedule
13G for any other purposes than Section 13(d) of the Securities
Exchange Act of 1934.