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
ALLERGAN PLC SHS G0177J108 25,955 146,558 SH   SOLE   146,558 0 0
ALPHABET INC CAP STK CL A 02079K305 1,743 1,500 SH   SOLE   1,500 0 0
AMBAC FINL GROUP INC *W EXP 04/30/202 023139116 123 23,120 SH   SOLE   23,120 0 0
AMBAC FINL GROUP INC COM NEW 023139884 3,302 267,621 SH   SOLE   267,621 0 0
ATLANTIC POWER CORP COM NEW 04878Q863 983 459,572 SH   SOLE   459,572 0 0
BRISTOL-MYERS SQUIBB CO RIGHT 99/99/9999 110122157 1,189 312,900 SH   SOLE   312,900 0 0
CAPSTEAD MTG CORP COM NO PAR 14067E506 1,362 324,215 SH   SOLE   324,215 0 0
CEL SCI CORP COM PAR NEW 150837607 279 193,100 SH Put SOLE   193,100 0 0
CINER RES LP COM UNIT LTD 172464109 1,191 114,972 SH   SOLE   114,972 0 0
COMMUNITY WEST BANCSHARES COM 204157101 337 55,300 SH   SOLE   55,300 0 0
CYPRESS SEMICONDUCTOR CORP COM 232806109 2,870 123,052 SH   SOLE   123,052 0 0
DELTA APPAREL INC COM 247368103 2,012 193,271 SH   SOLE   193,271 0 0
ECHOSTAR CORP CL A 278768106 5,013 156,800 SH   SOLE   156,800 0 0
ERA GROUP INC COM 26885G109 3,067 575,361 SH   SOLE   575,361 0 0
FORUM ENERGY TECHNOLOGIES IN COM 34984V100 197 1,110,131 SH   SOLE   1,110,131 0 0
GREEN PLAINS INC NOTE 4.125% 9/0 393222AF1 7,436 11,192,000 SH   SOLE   11,192,000 0 0
HOEGH LNG PARTNERS LP COM UNIT LTD Y3262R100 1,833 250,082 SH   SOLE   250,082 0 0
INDUSTRIAL LOGISTICS PPTYS T COM SHS BEN INT 456237106 4,747 270,655 SH   SOLE   270,655 0 0
LEGG MASON INC COM 524901105 2,632 53,871 SH   SOLE   53,871 0 0
LIBERTY MEDIA CORP DEL COM A SIRIUSXM 531229409 1,809 57,096 SH   SOLE   57,096 0 0
MARLIN BUSINESS SVCS CORP COM 571157106 2,473 221,374 SH   SOLE   221,374 0 0
MERRIMACK PHARMACEUTICALS IN COM NEW 590328209 1,812 842,913 SH   SOLE   842,913 0 0
MIDDLEFIELD BANC CORP COM NEW 596304204 180 11,364 SH   SOLE   11,364 0 0
NELNET INC CL A 64031N108 3,683 81,110 SH   SOLE   81,110 0 0
NEW ENGLAND RLTY ASSOC LTD P DEPOSITRY RCPT 644206104 732 15,590 SH   SOLE   15,590 0 0
NI HLDGS INC COM 65342T106 1,434 105,764 SH   SOLE   105,764 0 0
RLJ LODGING TR CUM CONV PFD A 74965L200 8,419 481,087 SH   SOLE   481,087 0 0
RMR GROUP INC CL A 74967R106 4,814 178,481 SH   SOLE   178,481 0 0
SEALED AIR CORP NEW COM 81211K100 2,531 102,411 SH   SOLE   102,411 0 0
SOUND FINL BANCORP INC COM 83607A100 371 17,657 SH   SOLE   17,657 0 0
SPDR SER TR BLOOMBERG BRCLYS 78468R622 2,904 205,200 SH Put SOLE   205,200 0 0
STEEL PARTNERS HLDGS L P LTD PRTRSHIP U 85814R107 110 20,283 SH   SOLE   20,283 0 0
TURNING PT BRANDS INC COM 90041L105 3,356 158,976 SH   SOLE   158,976 0 0
WRIGHT MED GROUP N V ORD SHS N96617118 7,409 258,594 SH   SOLE   258,594 0 0