The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
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
AVENUE INCOME CR STRATEGIES COM 05358E106 525 29,808 SH   SOLE   29,808 0 0
BEAM INC COM 073730103 4,394 52,750 SH   SOLE   52,750 0 0
BGC PARTNERS INC CL A CL A 05541T101 116 17,700 SH   SOLE   17,700 0 0
BROOKFIELD GLOBL LISTED INFR COM SHS 11273Q109 1,210 56,574 SH   SOLE   56,574 0 0
BROOKFIELD TOTAL RETURN FD INC COM 11283U108 717 29,617 SH   SOLE   29,617 0 0
CAPITALSOURCE INC COM 14055X102 9,985 684,400 SH   SOLE   684,400 0 0
COMPUWARE CORP COM 205638109 290 27,590 SH   SOLE   27,590 0 0
CORNERSTONE PROGRESSIVE RETURN FUND COM 21925C101 389 73,392 SH   SOLE   73,392 0 0
CORNERSTONE STRATEGIC VALUE FUND INC COM NEW 21924B203 9,212 1,423,836 SH   SOLE   1,423,836 0 0
CORNERSTONE TOTAL RETURN FD COM NEW 21924U201 4,418 744,960 SH   SOLE   744,960 0 0
CST BRANDS INC COM COM 12646R105 610 19,534 SH   SOLE   19,534 0 0
CUBIST PHARMACEUTICALS INC RTS RIGHT 99/99/9999 229678123 128 196,892 SH   SOLE   196,892 0 0
DISCOVERY COMMUNICATIONS INC COM SER C COM SER C 25470F302 1,089 14,128 SH   SOLE   14,128 0 0
DIVIDEND AND INCOME FUND COM NEW 25538A204 1,021 66,755 SH   SOLE   66,755 0 0
DNP SELECT INCOME FD INC COM 23325P104 1,852 189,003 SH   SOLE   189,003 0 0
DSP GROUP INC COM 23332B106 135 15,670 SH   SOLE   15,670 0 0
EMC CORP COM 268648102 772 28,175 SH   SOLE   28,175 0 0
EQUAL ENERGY LTD COM 29390Q109 452 98,689 SH   SOLE   98,689 0 0
FMC CORP NEW COM NEW 30249U101 911 11,900 SH   SOLE   11,900 0 0
FOREST LABORATORIES INC COM 345838106 3,875 42,000 SH   SOLE   42,000 0 0
GABELLI GLOBAL UTILITY & INCOME TRUST COM SH BEN INT 36242L105 641 32,237 SH   SOLE   32,237 0 0
GABELLI UTILITY TR COM 36240A101 2,424 357,580 SH   SOLE   357,580 0 0
GENPACT LIMITED COM G3922B107 1,925 110,500 SH   SOLE   110,500 0 0
GYRODYNE CO OF AMERICA INC RESTRICTED COM 403820103 452 74,289 SH   SOLE   74,289 0 0
H & Q HEALTHCARE INVESTORS SBI SH BEN INT 404052102 1,048 38,512 SH   SOLE   38,512 0 0
HARVARD BIOSCIENCE INC COM 416906105 286 60,375 SH   SOLE   60,375 0 0
HARVEST NATURAL RESOURCES INC COM 41754V103 1,169 310,940 SH   SOLE   310,940 0 0
HERTZ GLOBAL HLDGS INC COM 42805T105 266 10,000 SH   SOLE   10,000 0 0
HOME FEDERAL BANCORP INC COM 43708L108 2,014 129,450 SH   SOLE   129,450 0 0
INDIA FUND INC COM 454089103 9,636 418,224 SH   SOLE   418,224 0 0
INTERNET PATENTS CORPORATION COM 46063G101 175 52,996 SH   SOLE   52,996 0 0
JAKKS PACIFIC INC COM 47012E106 136 18,768 SH   SOLE   18,768 0 0
JEFFERSON BANCSHARES INC COM 472375104 862 110,539 SH   SOLE   110,539 0 0
JUNIPER NETWORKS COM 48203R104 992 38,500 SH   SOLE   38,500 0 0
KEATING CAPITAL INC COM COM 48722R106 927 151,723 SH   SOLE   151,723 0 0
KINDER MORGAN INC DEL WT EXP PUR CL P COM W EXP 05/25/201 49456B119 34 19,526 SH   SOLE   19,526 0 0
KOPIN CORP COM 500600101 117 30,912 SH   SOLE   30,912 0 0
LEAP WIRELESS INTL INC COM NEW 521863308 44 49,824 SH   SOLE   49,824 0 0
LEARNING TREE INTERNATIONAL INC COM 522015106 57 17,988 SH   SOLE   17,988 0 0
LIBERTY ALL STAR EQUITY FUND SH BEN INT 530158104 586 99,645 SH   SOLE   99,645 0 0
LIBERTY GLOBAL PLC CLASS C SHS CL C G5480U120 211 5,188 SH   SOLE   5,188 0 0
LIFEVANTAGE CORPORATION COM 53222K106 42 32,161 SH   SOLE   32,161 0 0
LOEWS CORPORATION COM 540424108 5,868 133,216 SH   SOLE   133,216 0 0
LSI CORPORATION COM 502161102 1,729 156,174 SH   SOLE   156,174 0 0
LUNA INNOVATIONS INC COM 550351100 66 45,000 SH   SOLE   45,000 0 0
MERGE HEALTHCARE INC COM 589499102 75 30,800 SH   SOLE   30,800 0 0
MODUSLINK GLOBAL SOLUTIONS INC COM 60786L107 321 75,970 SH   SOLE   75,970 0 0
MONSTER WORLDWIDE INC COM 611740101 120 16,050 SH   SOLE   16,050 0 0
MORGAN STANLEY INDIA INVESTMENT FUND INC COM 61745C105 303 15,522 SH   SOLE   15,522 0 0
NEUBERGER BERMAN REAL ESTATE COM 64190A103 315 66,733 SH   SOLE   66,733 0 0
NICHOLAS FINANCIAL INC COM NEW 65373J209 1,568 99,668 SH   SOLE   99,668 0 0
OXFORD LANE CAPITAL CORP COM 691543102 797 47,744 SH   SOLE   47,744 0 0
PACER INTERNATIONAL INC COM 69373H106 1,481 165,267 SH   SOLE   165,267 0 0
PLX TECHNOLOGY INC COM 693417107 614 101,493 SH   SOLE   101,493 0 0
PROMOTORA DE INFORMACIONES SA ADR CL B ADR CL B CONV 74343G303 88 25,000 SH   SOLE   25,000 0 0
QLT INC COM 746927102 190 34,204 SH   SOLE   34,204 0 0
REALNETWORKS INC COM NEW 75605L708 540 71,275 SH   SOLE   71,275 0 0
REAVES UTIL INCOME FD COM SH BEN INT 756158101 3,302 120,280 SH   SOLE   120,280 0 0
RENTECH INC COM 760112102 127 66,668 SH   SOLE   66,668 0 0
RIVERBED TECHNOLOGY INC COM 768573107 731 37,100 SH   SOLE   37,100 0 0
ROI ACQUISITION CORP II COM 74966G101 1,213 125,000 SH   SOLE   125,000 0 0
SAFEGUARD SCIENTIFICS INC COM NEW 786449207 5,003 225,555 SH   SOLE   225,555 0 0
SAMSON OIL & GAS LTD SPONSORED ADR SPON ADR 796043107 68 141,204 SH   SOLE   141,204 0 0
SANOFI RTS RIGHT 12/31/2020 80105N113 51 164,477 SH   SOLE   164,477 0 0
SILVER EAGLE ACQUISITION CORP COM 827694100 2,418 250,000 SH   SOLE   250,000 0 0
SIRIUS XM HOLDINGS INC COM COM 82968B103 1,008 315,000 SH   SOLE   315,000 0 0
SWISS HELVETIA FUND INC COM 870875101 349 24,249 SH   SOLE   24,249 0 0
TALISMAN ENERGY INC COM 87425E103 399 40,000 SH   SOLE   40,000 0 0
TELEPHONE & DATA SYSTEM INC COM NEW 879433829 3,694 140,929 SH   SOLE   140,929 0 0
THAI FUND INC COM 882904105 774 71,498 SH   SOLE   71,498 0 0
THERAVANCE INC COM 88338T104 1,330 43,000 SH   SOLE   43,000 0 0
TIME WARNER CABLE INC COM NEW 887317303 1,146 8,352 SH   SOLE   8,352 0 0
TURQUOISE HILL RESOURCES LTD COM 900435108 77 23,063 SH   SOLE   23,063 0 0
ULTA SALON COSMETICS & FRAG I COM 90384S303 974 10,000 SH Call SOLE   10,000 0 0
UNITED BANCORP INC COM 909911109 2,240 182,085 SH   SOLE   182,085 0 0
UNS ENERGY CORPORATION COM 903119105 600 10,000 SH   SOLE   10,000 0 0
VODAFONE GROUP PLC ADR SPNSR ADR NO PAR 92857W308 241 6,544 SH   SOLE   6,544 0 0
WENDYS COMPANY COM 95058W100 349 38,214 SH   SOLE   38,214 0 0
WESTERN ASSET INFLATION MGMT FD INC COM 95766U107 4,816 269,646 SH   SOLE   269,646 0 0
WRIGHT MEDICAL GROUP INC RTS RIGHT 03/01/2019 98235T115 38 45,300 SH   SOLE   45,300 0 0
YAHOO INC COM 984332106 330 9,200 SH   SOLE   9,200 0 0
YONGYE INTERNATIONAL INC COM 98607B106 149 21,900 SH   SOLE   21,900 0 0