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
ARALEZ PHARMACEUTICALS INC Common Stocks 03852X100 223 46,000 SH   SOLE   46,000 0 0
ASHFORD HOSPITALITY TRUST Miscellaneous Equities 044103109 699 118,606 SH   SOLE   118,606 0 0
BUILDERS FIRSTSOURCE INC Common Stocks 12008R107 219 19,000 SH   SOLE   19,000 0 0
CALPINE CORP Common Stocks 131347304 890 70,400 SH   SOLE   70,400 0 0
CASCADE BANCORP Common Stocks 147154207 698 115,182 SH   SOLE   115,182 0 0
CHIPMOS TECHNOLOGIES BERMUDA Common Stocks G2110R114 495 25,000 SH   SOLE   25,000 0 0
DIGIRAD CORP Common Stocks 253827109 708 138,767 SH   SOLE   138,767 0 0
DETREX Common Stocks 250685104 13,492 586,616 SH   SOLE   586,616 0 0
EAGLE BANCORP MONTANA INC Common Stocks 26942G100 5,338 455,745 SH   SOLE   455,745 0 0
EHEALTH INC Common Stocks 28238P109 335 31,400 SH   SOLE   31,400 0 0
FIVE STAR QUALITY CARE Common Stocks 33832D106 28 14,426 SH   SOLE   14,426 0 0
FORTRESS INVESTMENT GRP-CL A Miscellaneous Equities 34958B106 179 36,194 SH   SOLE   36,194 0 0
GDL FUND/THE Mutual Funds 361570104 6,210 866,366 SH   SOLE   866,366 0 0
GLU MOBILE INC Common Stocks 379890106 146 65,000 SH   SOLE   65,000 0 0
GORES HOLDINGS INC-A Common Stocks 382866101 255 23,598 SH   SOLE   23,598 0 0
HARVARD BIOSCIENCE INC Common Stocks 416906105 1,776 653,124 SH   SOLE   653,124 0 0
KANSAS CITY LIFE INS CO Common Stocks 484836200 6,321 186,549 SH   SOLE   186,549 0 0
KRATOS DEFENSE & SECURITY Common Stocks 50077B207 1,427 207,113 SH   SOLE   207,113 0 0
LORAL SPACE & COMMUNICATIONS Common Stocks 543881106 1,093 27,950 SH   SOLE   27,950 0 0
NATIONAL WESTERN LIFE GROU-A Common Stocks 638517102 741 3,609 SH   SOLE   3,609 0 0
NEW YORK REIT INC Miscellaneous Equities 64976L109 1,382 151,000 SH   SOLE   151,000 0 0
OCH-ZIFF CAPITAL MANAGEMEN-A Miscellaneous Equities 67551U105 802 189,784 SH   SOLE   189,784 0 0
PROSHARES ULTRASHORT 20+Y TR ETFs 74347B201 790 25,000 SH   SOLE   25,000 0 0
UNISYS CORP Common Stocks 909214306 3,314 372,297 SH   SOLE   372,297 0 0
VELOCITYSHARES 2X VIX SH-TRM ETFs 22539T274 182 10,000 SH   SOLE   10,000 0 0
VOLT INFO SCIENCES INC Common Stocks 928703107 11,339 2,203,339 SH   SOLE   2,203,339 0 0
GORES HOLDINGS INC-CW20 Warrants 382866119 297 247,800 SH   SOLE   247,800 0 0