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
AETNA INC NEW COM 00817Y108 7,913 74,276 SH   SOLE 0 0 74,276
APPLE INC COM 037833100 345 2,770 SH   SOLE 0 0 2,770
BROCADE COMMUNICATIONS SYS I COM NEW 111621306 6,233 525,312 SH   SOLE 0 0 525,312
EMPIRE ST RLTY OP L P UNIT LTD PRTNSP 292102100 639 34,411 SH   SOLE 0 0 34,411
ENBRIDGE ENERGY MANAGEMENT L SHS UNITS LLI 29250X103 9,941 273,255 SH   SOLE 0 0 273,255
HEALTHSOUTH CORP COM NEW 421924309 9,407 212,060 SH   SOLE 0 0 212,060
LIFEPOINT HOSPITALS INC COM 53219L109 5,566 75,786 SH   SOLE 0 0 75,786
MEDLEY CAP CORP COM 58503F106 1,206 131,762 SH   SOLE 0 0 131,762
MEMORIAL PRODTN PARTNERS LP COM U REP LTD 586048100 7,958 490,927 SH   SOLE 0 0 490,927
NUVEEN PFD INCOME OPPRTNY FD COM 67073B106 318 33,385 SH   SOLE 0 0 33,385
NUVEEN QUALITY PFD INCOME FD COM 67072C105 599 65,391 SH   SOLE 0 0 65,391
QAD INC CL B 74727D207 1,242 62,078 SH   SOLE 0 0 62,078
QAD INC CL A 74727D306 6,723 277,807 SH   SOLE 0 0 277,807
RITE AID CORP COM 767754104 2,730 314,200 SH   SOLE 0 0 314,200
SEAGATE TECHNOLOGY PLC SHS G7945M107 5,615 107,927 SH   SOLE 0 0 107,927
SUNCOKE ENERGY INC COM 86722A103 3,822 255,847 SH   SOLE 0 0 255,847
SUNCOKE ENERGY PARTNERS L P COMUNIT REP LT 86722Y101 531 24,957 SH   SOLE 0 0 24,957