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
ARBOR RLTY TR INC COM 038923108 2,205 250,000 SH   SOLE   250,000 0 0
ARC GROUP WORLDWIDE INC COM 00213H105 2,520 1,229,105 SH   SOLE   1,229,105 0 0
ARES MGMT LP COM SHS REG INT 04014Y101 9,311 435,102 SH   SOLE   435,102 0 0
B RILEY FINL INC COM 05580M108 7,259 372,242 SH   SOLE   372,242 0 0
DEL FRISCOS RESTAURANT GROUP COM 245077102 4,201 275,500 SH   SOLE   275,500 0 0
EMCORE CORP COM NEW 290846203 6,290 1,103,541 SH   SOLE   1,103,541 0 0
EVERI HLDGS INC COM 30034T103 9,323 1,419,030 SH   SOLE   1,419,030 0 0
GCI LIBERTY INC COM CLASS A 36164V305 8,053 152,350 SH   SOLE   152,350 0 0
GREAT ELM CAP GROUP INC COM NEW 39036P209 9,611 2,402,792 SH   SOLE   2,402,792 0 0
IAC INTERACTIVECORP COM 44919P508 25,353 162,122 SH   SOLE   162,122 0 0
INFORMATION SERVICES GROUP I COM 45675Y104 6,608 1,580,784 SH   SOLE   1,580,784 0 0
INTEVAC INC COM 461148108 6,311 914,669 SH   SOLE   914,669 0 0
INTL FCSTONE INC COM 46116V105 3,404 79,750 SH   SOLE   79,750 0 0
LIBERTY MEDIA CORP DELAWARE COM C SIRIUSXM 531229607 3,166 77,500 SH   SOLE   77,500 0 0
PRGX GLOBAL INC COM NEW 69357C503 16,300 1,724,818 SH   SOLE   1,724,818 0 0
STARWOOD PPTY TR INC COM 85571B105 2,828 135,000 SH   SOLE   135,000 0 0
TURNING PT BRANDS INC COM 90041L105 9,345 480,701 SH   SOLE   480,701 0 0