The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete. | |||||||||||||||||
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F INFORMATION TABLE |
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| COLUMN 1 | COLUMN 2 | COLUMN 3 | COLUMN 4 | COLUMN 5 | COLUMN 6 | COLUMN 7 | COLUMN 8 | ||||
| VALUE | SHRS OR | SH/ | PUT/ | INVESTMENT | OTHER | VOTING AUTHORITY | |||||
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | (x$1000) | PRN AMT | PRN | CALL | DISCRETION | MANAGER | SOLE | SHARED | NONE |
| ALICO INC CMN | COM | 016230104 | 249 | 5,500 | SH | SOLE | 0 | 5,500 | 0 | 0 | |
| BRT REALTY TRUST (SBI)$3.00PAR CMN | COM | 055645303 | 1,336 | 189,981 | SH | SOLE | 0 | 189,981 | 0 | 0 | |
| BARNES & NOBLE, INC CMN | COM | 067774109 | 47,635 | 1,834,936 | SH | SOLE | 0 | 1,834,936 | 0 | 0 | |
| BIOTA PHARMACEUTICALS INC CMN | COM | 090694100 | 331 | 160,000 | SH | SOLE | 0 | 160,000 | 0 | 0 | |
| BOOKS A MILLION INC CMN | COM | 098570104 | 86 | 30,000 | SH | SOLE | 0 | 30,000 | 0 | 0 | |
| CALIFORNIA RESOURCES CORP CMN | COM | 13057Q107 | 483 | 80,000 | SH | SOLE | 0 | 80,000 | 0 | 0 | |
| CORNING INCORPORATED CMN | COM | 219350105 | 987 | 50,000 | SH | SOLE | 0 | 50,000 | 0 | 0 | |
| DAKOTA PLAINS HOLDINGS, INC. CMN | COM | 234255107 | 57 | 47,779 | SH | SOLE | 0 | 47,779 | 0 | 0 | |
| DOLBY LABORATORIES, INC. CMN CLASS A | COM | 25659T107 | 1,686 | 42,500 | SH | SOLE | 0 | 42,500 | 0 | 0 | |
| EXCO RESOURCES INC CMN | COM | 269279402 | 342 | 289,500 | SH | SOLE | 0 | 289,500 | 0 | 0 | |
| EMMIS COMMUNICATIONS CORP CL-A CLASS A | COM | 291525103 | 940 | 940,000 | SH | SOLE | 0 | 940,000 | 0 | 0 | |
| EMMIS COMMUNICATIONS CORP 6.25% SERIES A CVT PREFERRED PFD | CNV | 291525202 | 210 | 20,000 | SH | SOLE | 0 | 20,000 | 0 | 0 | |
| GRIFFIN INDUSTRIAL REALTY INC CMN | COM | 398231100 | 3,683 | 114,962 | SH | SOLE | 0 | 114,962 | 0 | 0 | |
| GYRODYNE CO AMER CMN | COM | 403820103 | 446 | 149,175 | SH | SOLE | 0 | 149,175 | 0 | 0 | |
| INTL BUSINESS MACHINES CORP CMN | COM | 459200101 | 1,627 | 10,000 | SH | SOLE | 0 | 10,000 | 0 | 0 | |
| INTERNET PATENTS CORP CMN | COM | 46063G101 | 378 | 125,000 | SH | SOLE | 0 | 125,000 | 0 | 0 | |
| PUT/KRFT @ 80 EXP 09/18/2015 | PUT | 50076Q106 | 14 | 150 | SH | Put | SOLE | 0 | 150 | 0 | 0 |
| LANDS' END, INC. CMN | COM | 51509F105 | 3,724 | 150,000 | SH | SOLE | 0 | 150,000 | 0 | 0 | |
| MACERICH COMPANY CMN | COM | 554382101 | 1,119 | 15,000 | SH | SOLE | 0 | 15,000 | 0 | 0 | |
| MARTHA STEWART LIVING OMNIMEDIA INC CL-A CLASS A | COM | 573083102 | 562 | 90,000 | SH | SOLE | 0 | 90,000 | 0 | 0 | |
| OCCIDENTAL PETROLEUM CORP CMN | COM | 674599105 | 3,111 | 40,000 | SH | SOLE | 0 | 40,000 | 0 | 0 | |
| PLATFORM SPECIALTY PRODS CORP CMN | COM | 72766Q105 | 895 | 35,000 | SH | SOLE | 0 | 35,000 | 0 | 0 | |
| REALNETWORKS INC CMN | COM | 75605L708 | 1,121 | 207,239 | SH | SOLE | 0 | 207,239 | 0 | 0 | |
| SAGA COMMUNICATION, INC. CMN CLASS A | COM | 786598300 | 47,612 | 1,257,926 | SH | SOLE | 0 | 1,257,926 | 0 | 0 | |
| RTS/SANOFI-AVENTIS EXP12/31/2020 | RTS | 80105N113 | 270 | 385,000 | SH | SOLE | 0 | 385,000 | 0 | 0 | |
| SEARS CANADA INC. CMN | COM | 81234D109 | 18,026 | 2,960,000 | SH | SOLE | 0 | 2,960,000 | 0 | 0 | |
| SEARS HOMETOWN AND OUTLET STORES, INC. CMN | COM | 812362101 | 238 | 25,000 | SH | SOLE | 0 | 25,000 | 0 | 0 | |
| TEJON RANCH CO CMN | COM | 879080109 | 67,444 | 2,623,251 | SH | SOLE | 0 | 2,623,251 | 0 | 0 | |
| WTS/TEJON RANCH CO. 40.0000 EXP08/31/2016 | WTS | 879080133 | 173 | 384,046 | SH | SOLE | 0 | 384,046 | 0 | 0 | |
| BELMOND LTD CMN | COM | G1154H107 | 1,822 | 145,882 | SH | SOLE | 0 | 145,882 | 0 | 0 | |
| PERRIGO CO PLC CMN | COM | G97822103 | 462 | 2,500 | SH | SOLE | 0 | 2,500 | 0 | 0 | |