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
AMBASSADORS GROUP INC COM 023177108 2,775 749,975 SH   OTR 1, 2, 3 0 749,975 0
API TECHNOLOGIES CORP COM 00187E203 26,871 11,434,278 SH   OTR 1, 2, 3 0 11,434,278 0
AVIAT NETWORKS INC COM 05366Y102 12,670 7,039,038 SH   OTR 1, 2, 3 0 7,039,038 0
CHIMERA INVESTMENT CORP COM 16934Q109 3,040 1,000,000 SH   OTR 1, 2, 3 0 1,000,000 0
CIVEO CORP COM 178787107 348 30,000 SH   OTR 1, 2, 3 0 30,000 0
CST BRANDS INC COM 12646R105 360 10,000 SH   OTR 1, 2, 3 0 10,000 0
FORBES ENERGY SERVICES LTD COM 345143101 15,112 3,749,991 SH   OTR 1, 2, 3 0 3,749,991 0
GENCORP INC COM 368682100 66,771 4,180,997 SH   OTR 1, 2, 3 0 4,180,997 0
HANDY & HARMAN LTD COM 410315105 205,660 7,831,699 SH   OTR 1, 2, 3 0 7,831,699 0
INVESCO DYNAMIC CREDIT OPP COM 46132R104 5,079 411,217 SH   OTR 1, 2, 3 0 411,217 0
JASON INDUSTRIES INC COM 471172106 5,208 503,200 SH   OTR 1, 2, 3 0 503,200 0
LIFEVANTAGE CORP COM 655044105 114 100,000 SH   OTR 1, 2, 3 0 100,000 0
MODUSLINK GLOBAL SOLUTIONS I COM 60786L107 21,210 5,941,170 SH   OTR 1, 2, 3 0 5,941,170 0
NATHAN'S FAMOUS INC COM 632347100 30,153 445,456 SH   OTR 1, 2, 3 0 445,456 0
NATURES SUNSHINE PRODS INC COM 639027101 518 34,912 SH   OTR 1, 2, 3 0 34,912 0
NOBLE CORP PLC COM G65431101 309 13,900 SH   OTR 1, 2, 3 0 13,900 0
NUANCE COMMUNICATIONS INC COM 67020Y100 154 10,000 SH   OTR 1, 2, 3 0 10,000 0
PARKER DRILLING CO COM 701081101 733 148,353 SH   OTR 1, 2, 3 0 148,353 0
SL INDS INC COM 784413106 48,568 994,840 SH   OTR 1, 2, 3 0 994,840 0
STEEL PARTNERS HOLDINGS LP LTD PRTRSHIP U 85814R107 52,529 3,162,473 SH   OTR 1, 2, 3 0 3,162,473 0
TRIANGLE PETROLEUM CORP COM 89600B201 23,645 2,147,634 SH   OTR 1, 2, 3 0 2,147,634 0
UNIT CORP COM 909218109 789 13,458 SH   OTR 1, 2, 3 0 13,458 0
WAUSAU PAPER CORP COM 943315101 1,225 154,500 SH   OTR 1, 2, 3 0 154,500 0